1 2 101: Unleashing the Power of Growth Hacking to Propel Your Business and Brand Ahead
CXOToday has engaged in an exclusive interview with Riddhi Gupta Co-Founder 1 2 101 and Rahim Lakhani Co-Founder 1 2 101
- Please tell us about 1 2 101 and what’s the meaning of this unique name.
1 2 101 is a remarkable address for all things business, brand and buck. The company aims to take every business from 0-100 but both the co-founders, Riddhi and Rahim and the brand name embody the belief that no brand, business, or individual is 0. They are already at least 1 as long as they exist. While most talk about reaching 100, we are passionate about going that extra mile to take our clients to a 101 – surpassing expectations and achieving unprecedented growth. We are a strong ally for any brand looking to achieve exceptional success in the business world thanks to our growth-hacking mindset, hands-on approach, and deep involvement in every step of our client’s growth journeys. We take pride in assisting brands in achieving the extraordinary, and our philosophy and dedication are at the heart of what makes 1 2 101 unique.
2. What sets 1 2 101 apart from traditional consulting services in the business growth hacking domain?
The answer lies in the question itself. We are not a traditional consulting firm, we are a niche Business Growth Hacking firm. So while most consulting firms help plan and strategize and leave the execution to the brand team, we on the other hand follow through with strategy and execution along with pitching, negotiating and closing. We work closely with our brands on optimising costs and bettering their working capital flows. We are in a way their External CEO, where we are involved in not just business and brand decisions but also the creative strategy for growth. We take on a comprehensive role, handling both strategy and execution, in contrast to traditional consulting firms. This level of involvement distinguishes us from other advisors and transforms us into true growth partners for our clients.
3. How can retail innovation leverage tech solutions to create seamless omni-channel experiences?
The use of AI-powered tools that improve the shopping experience is one of the key ways retail innovation can make use of tech solutions. Retail companies can greatly accelerate the shopping experience for customers by utilizing AI, making it more effective and convenient. AI enables brands to provide personalized product recommendations and offers, thereby raising customer satisfaction and engagement. AI can analyze customer preferences, behaviours, and purchase history. Additionally, chatbots and customer service systems powered by AI offer 24/7 support, promptly resolving questions and issues. The overall shopping experience is improved by this proactive approach to customer service, which increases customer retention rates.
4. How is artificial intelligence enhancing personalization and providing valuable customer insights in the fashion industry?
More often than not AI is used in the supply chain management and the back end of a fashion brand set up. These tools not only help study and analyse previous sales history but can predict future sales which a brand can in turn capitalise on. In-store, shopping experiences can be enhanced using AI tools which not only would increase repeat customers but also build a sense of brand loyalty. AI chatbots and virtual stylists have also grown in popularity as tools for offering tailored assistance to online shoppers. These sophisticated virtual assistants can interact with customers in real time, responding to questions, providing style advice, and assisting them with the purchasing process. Instant assistance and individualized care not only increase customer satisfaction but also help create a strong sense of brand loyalty.
5. What are 1 2 101’s future plans for growth and staying ahead in the market?
The goal of 1 2 101 is to grow 100 brands over the next five years, which is both ambitious and exciting. Such an objective calls for a proactive strategy and the willingness to continuously challenge and disrupt our practices. We are aware that using conventional methods may make it more difficult for us to effectively drive growth for our clients in today’s rapidly evolving business environment. We understand the need to embrace innovation and stay ahead of market trends to pull off this amazing feat. We must continue to be flexible and adaptable as the business growth hacking field develops, constantly looking for fresher and more efficient ways to approach growth strategies.
At 1 2 101, we don’t refer to our clients as clients; instead, we see them as partners, fostering a sense of ownership and collaboration towards their brands. Our main goal is to empower businesses to thrive and succeed, and this passion is what drove us to establish 1 2 101. As pioneers in the field of BUSINESS GROWTH HACKING, we take pride in being the first to coin and embrace this term. While merchandising and consulting are integral aspects of our work, we go beyond these roles to truly revolutionize the growth of businesses. Our innovative approach has inspired others to follow suit, solidifying our position as true pioneers in the industry.
