Interviews

Avadhoot Revankar explains how Netcore Cloud’s journey is delivering a high-impact personalized customer experience.

CXOToday has engaged in an exclusive interview with Mr. Avadhoot Revankar, Chief Growth Hacker, Product Evangelist & Business Head, Netcore Cloud

 

  1. What do you believe to be the reason for the growing popularity of mobile apps among start-ups?

In India, the majority of users (about 70%) access the internet via mobile devices, making it a mobile-first economy. In terms of user retention and brand recall, mobile apps tend to be more effective than websites.

 

  1. Retention on Mobile apps has been one of the biggest challenges for most brands. What are the different ways a brand can address them using technology?

In order to improve retention rates in mobile apps, it’s important to understand that a large percentage (60-70%) of users uninstall within the first 30 days, with as much as 50% uninstalling on day one. The GRIP framework (Guide, Remind, Interact, and Productize) can help in this regard. Additionally, the onboarding process and Day 0 experience are crucial for better retention and can be improved by simplifying the process and introducing the app through tooltips or nudges. Examples of successful apps like Spotify and Duolingo have used personalization and gamification to create a hook for users to come back. Finally, measuring the right metrics through analytics is important, and it’s crucial to avoid sending too many push notifications and not restricting to only notifications but also utilizing other channels. With the recent Android 13 release, notifications will require a user opt-in, which reduces the reachability of this channel. Hence, it now becomes crucial to send only relevant notifications through other relevant channels.

 

  1. How does Netcore cloud help brands improve Mobile App Retention?

Netcore offers a comprehensive solution for mobile app brands to listen and analyze user behavior, including tracking key metrics such as activation, retention and providing dashboards for MAU, DAU, uninstalls, app Stickiness and visualizations like funnels, cohorts and user path analysis. With its AI platform, Netcore can provide thousands of insights, including predictions for user churn, purchasing behavior, and contest participation. Engaging with users is made easy through personalized interactions over various channels like app notifications, WhatsApp, email, SMS, and more. Netcore also enables brands to improve the user experience by running A/B tests on the Home screen and running nudges within the app.

Some of the largest Mobile apps use Netcore cloud to simplify onboarding, improve activation, increase engagement, drive more product adoption & finally improve their overall app retention. Netcore cloud’s technology streamlines onboarding, activation, engagement, adoption, and retention for leading mobile apps. Innovative tool tips and nudges guide users from their first app launch. Personalized reminders sent via app notifications, email, WhatsApp, and other channels ensure users complete activation by joining a contest or playing a game. Netcore’s combination of analytics, personalized nudges, fast delivery of notifications, A/B testing, and Raman, their AI engine, help users engage and become loyal to the app, while predicting future user behavior such as churn or referrals.

 

  1. In your view, which brands got retention on app exceptionally right in 2022?

MakeMyTrip and IndMoney are two companies that have demonstrated exceptional success in app retention. Through their use of data analytics and personalized engagement strategies, both companies have been able to keep their users engaged and coming back to their apps. They have focussed on building utilities that will help users in their daily lives. MakeMyTrip during covid made a tool available where you could track rules and regulations for traveling to a country or city. IndMoney has built an entire dashboard that helps you track your investments and its future potential. As a result, both companies have been able to create highly successful and engaging app experiences that have resulted in impressive retention rates.

 

  1. What mobile app trends do you see surfacing this year?

As user preference and privacy become more important, it’s crucial to offer the option to opt-in on notifications, respecting their choice. Interactive hotlines are an excellent way to engage with users in a personalized manner. Channels like WhatsApp have now enabled two-way communications with brands, AMP emails being interactive to the level where you can almost finish the final purchase on email. Similarly you can capture feedback directly on the app notification from the tray itself. Gamification is loyalty reborn, making it an effective way to retain users. Building a genuine connection with the user is vital for success, and focusing on helping them can foster that connection. Finally, agility is critical in today’s world, and organizations, marketing, growth, and product teams should prioritize building this strength.

 

  1. What has been your contribution to making the whole consumer engagement unique? Are there any new developments the company is looking to expand upon?

Netcore Cloud is a technology-driven platform that helps B2C brands reach millions of users across various communication channels, such as email, app notifications, WhatsApp, SMS, etc., in a personalized way. Our use of AI in predicting churn, user preferences, and interests has helped many brands, including Myteam11, to improve their retention and conversions by 25-30%. We strongly advocate for user privacy and preferences and ensure that messages are sent out only with the users’ consent. Netcore’s recent acquisition and its focus on building a CDP with custom AI models are steps towards staying ahead in the game. Furthermore, the platform is exploring building a gamified version of loyalty, which could be the next innovation in the industry.

 

  1. Share some insights regarding the company’s business strategy to help increase engagement.

As a company, we are focused on transitioning from being a product to a platform, where we can become a marketplace for other brands to build on top of our product. We are also exploring the use of newer forms of AI to optimize the user funnel, such as the utility we recently launched on top of GPT3, which is a powerful content generator. Additionally, we understand the importance of giving marketers the agility to personalize every element of their mobile app, website, or communication channel. These are some of the areas we are actively working on to provide the best possible solutions for our clients.

 

  1. Lastly, being a core member from the start how do you feel about the customer engagement shaping the future of Netcore Cloud?

A lot of time, energy and money has been spent on acquiring customers over the years. Brands have spent enormous amounts on Google and Meta and have now fallen into a vortex of spending that is now eating up profitability. Brands did not bat an eye on engaging or retaining them. Today, with the new privacy laws and high CAC, the focus has shifted to existing users and retaining them in your ecosystem. Netcore Cloud’s intuitive AI platform has already been at the forefront of providing the necessary equipment brands need to engage and retain customers, and this will only increase in the following years to come.

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