Few E-Marketers Have A Holistic View Of Their Consumers
With the e-commerce industry on the expansion mode, even under competitive conditions, well directed and analysed spends on marketing is the need of the hour. According to data available on Cash Deal Kart, just during the festive season in 2015, ecommerce players in India spent Rs 500-crores on advertizing. However, questions remain, how fruitful has the push been? Ankit Maheshwari, CEO and Co-Founder of Betaout, a customer intelligence and marketing automation company, shares his insights into issues and solutions that could change the ecommerce landscape, and how change is currently taking place under circumstances.
- Could you briefly summarize Betaout’s core capabilities, and how it helps meeting the current market demand for it’s services?
Betaout is a customer intelligence & marketing automation platform for ecommerce companies. It helps companies do behavioral marketing by giving them access to the single customer view for every customer in their database. This is done by collecting all consumer interactions across multiple channels & devices like web, mobile, social, CRM into a single centralized consumer repository that has their multichannel activity, profile data and behavioral data. Then they provide tools like email, on-site engagement, cart recovery, mobile push, live-chat, SMS so that now their clients can do contextual marketing across channels using this real-time user persona and intent data.
Through this they are able to address a host of problems e-commerce companies go through such as
• Recovering lost customers (Building customer loyalty)
• Getting users to complete their abandoned purchases (Cart Recovery)
• Predicting the future purchases a user will make on the e-commerce platform.
While there exist marketing tools which can be used by E-commerce companies and B2B sites, they are generic in nature and need a high degree of customization before delivering value. This is where Betaout differentiates itself from the competition, by offering a customized set of tools tailored to the needs of E-commerce players. Hence, Betaout’s tools are designed to serve all the needs of an e-commerce company rather than a single vertical.
- Over the last 5 years of the timeline, how has marketing landscape changed for ecommerce entities?
Disjointed data is a problem that has plagued all marketers. A recent IBM study reported, While 81% of marketers think they have a ‘holistic’ view of their consumers’ information, the reality is very different. Let’s take a look at a common scenario faced by marketers using disparate marketing tools:
Your email marketing tool has all the customer interaction data on emails, campaigns viewed, opens/clicks, when they interacted with your email messages.Your website tracking tool has all the data related to the pages viewed, visit duration, session details, activity status. Your live chat tool has all the information about the chat messages exchanged with your customer.
Now, in the absence of a unified customer view, marketers were left with no option but to get stuck in a rut of CSV exports and Excel spreadsheets, to put all this data to good use. But, the problem is that there’s no alignment across these tools. There is no crystal ball to know about your target audience. What marketers need is a centralized repository of consumer data across all the touch points like the web, mobile, social, email and product interactions. The information collected across marketing channels should have access to consumer’s multichannel activity, profile data, and behavioral data only then he can use this data to send the right message to the right person with the right context.
- With Automation being the latest reality, how do you think the individual communication vehicles have changed along?
With Automation becoming an integral part of the marketing function for ecommerce companies, it is only natural that, the objective of individual communication vehicles cannot be evaluated in isolation, and it is only when they are integrated with all the other communication channels, can their effectiveness be measured. Therefore, over time communication channels work in conjunction with each other & market automation is the means for interpreting their results to acquire new customer & retaining existing ones. Automation goes beyond tracking prospects and customers; it takes action which is why all individual communication vehicles need to help evaluate their effectiveness as a part of the whole campaign & not standalone. It is because of this that today the communication vehicles are designed to work with each other to achieve the final communication goal.
- Define the company road-map for the future, keeping in kind that there is competition incumbent?
We’re doing a 20% month-on-month growth, and we are targeting 2million+ARR in next few months. After India, we have now set our sights on the South East Asian market. We started by expanding to Indonesia & have similar plans for countries in the region. At the same time, we also are also scaling up our team by hiring for key positions in the organization. Our tech team is also focusing on scaling the software by seamlessly incorporating features requested by clients so as to ensure a robust experience. We have just been ranked in the top 50 emerging IT companies by NASSCOM & also been selected for the MS Accelerator program. While there exist marketing tools which can be used by E-commerce companies and B2B sites, they are generic in nature and need a high degree of customization before delivering value. This is where Betaout differentiates itself from the competition, by offering a customized set of tools tailored to the needs of E-commerce players. Hence Betaout’s tools are designed to serve all the needs of an e-commerce company rather than a single vertical.
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