Promotion by IndiaMART.com has enabled RICO to become a recurring entry in every internet search, and indeed eponymous in its niche area of business.
Ms. Rucha Ritesh Kolte (Technical Director)
Maharashtra, 9th November 2011
RICO Finds a Reliable Marketing Partner in IndiaMART.com
Shobha Kolte started RICO in 1973 from a single garage. It is a manufacturer of electrical, mechanical, electronic and electro-mechanical goods such as switches, valves, heaters and level gauges. The company’s present success can be estimated by its enviable client list which includes industry behemoths like Mahindra and Mahindra, Manforce, Siemens, Ashok Leyland, Eicher Tractors, Kirloskar and L&T. This success is possible since CEO Ritesh Kolte, who now heads the company with new flair and innovation, is armed with similar will-power and determination as his mother. The company that first drew an income of Rs. 1500, now earns a yearly turnover of Rs. 13 crore. Driven by a workforce of 70–80 people and supported by the productivity of three factories in Pune, RICO’s total turnover is expected to further double in the next three years.
However, RICO’s journey to success has not been easy. According to Rucha Kolte, Product Development Engineer, there was a time when the company faced acute problems of design validation. Consultants were appointed as a remedy to this situation. With their help, the company was able to achieve one patent. Presently, RICO awaits the registration of three more patents. The company has formidable design capabilities now, and can easily adapt to comply with specific client requirements to develop technologically-advanced and customised products. Goods designed in the company’s units are tested for maximum durability, such that they are capable of withstanding severe applications and environment. This assurance of quality is evinced in the certifications received by the company, namely QS 9000—ISO/TS16949:2002 in December 1999–2002 and ISO/TS 16949:2002 in December 2003. Ms Kolte pointed out that further impetus to RICO’s business came in the form of internet marketing. The company has been associated with IndiaMART.com for almost five years now, and its marketing endeavours have prospered on the basis of word-of-mouth and web promotion. “Starting from one webpage, with IndiaMART.com, the company today has a full-fledged website that shows up prominently in relevant searches. Promotion by IndiaMART.com has enabled RICO to become a recurring entry in every internet search, and indeed eponymous in its niche area of business,” asserted Ms Kolte. Using its tools, IndiaMART.com has also been able to provide RICO with excellent lead generation opportunities. Since a large number of inquiries received are authentic and profitable, the company sees a good conversion rate among leads and has gained an invaluable clientele with the help of IndiaMART.com.
Since IndiaMART.com has enabled RICO to consistently remain among the top searches on the web as well as on IndiaMART.com’s network, the company recommends young entrepreneurs and start-ups to consider joining forces with IndiaMART.com for its marketing activities. “IndiaMART.com is a great support for the future of a growing business. It helps in lead generation and provides companies with reliable link-ups and market exposure. With IndiaMART.com, start-ups will not need to spend too much on other marketing tools and can concentrate on their core focus areas,” said Ms Kolte. Indicating a satisfactory association with IndiaMART.com, she concluded with the hope for an extended relationship between the two companies such that RICO can continue to benefit from IndiaMART.com’s promotional activities and exposure.