Why Machine Learning, Automation is Crucial for Brands?
Source – bwdisrupt.businessworld.in
Known for delivering out-of-the-box, performance based strategies in the marketing and technology domain, Envigo has footprints in India and UK. Led by Saurabh Kumar, an alumni of National Institute of Technology, Karnataka and IIM, Ahmedabad, Envigo partners with over 90 clients world-wide, worked with more than 300+ brands so far, across 24 countries and 4 continents, adding 10 to 15 more clients in the hospitality sector by the end of 2017.
Talking about the use of Artificial Intelligence (AI), Big Data & Automation, Kumar feels that the use of AI in predictive and backward-facing analysis presents big opportunities for digital agencies. “ROI focussed agencies are looking to implement AI in programatic Ads and personalisation for customers. So, we understand that all the visitors are not in the same phase of buying cycle. Be it web, mobile or any other channel, there is a need to understand what the customer requires. Hence, capturing customer actions, actionable insights and creating cross platform user experience becomes prime focus. Once we gather enough information, we can target customers and capitalise by capturing micro moments. With use of advanced analytics, marketing automation, custom web and mobile solutions, we have been able to shift from Communication to Engagement Strategies which can be implemented on all connected devices.”
Therefore, for the last 18 months Kumar has shifted the company’s focus to automation. “We created a cloud based SaaS solution which can automate various kinds of tasks and can be applied to a number of verticals. We now have a full-fledged product which is being used in functions like finance, manufacturing and in-house. For now we are using third party software for data analytics but we are looking to increase our knowhow in field of big data analytics.”
Kumar lists out the trends across digital marketing sector and new age tools for better ROI:
• Digital marketing is increasingly being leveraged for customer engagement (46%) and customer service (35%) in addition to driving brand awareness and lead generation/sales
• Digital marketing is increasingly eating into the share of print medium though print and television continue to rule the roost
• Richer audience engagement, inclusion of the rural consumer, automation and data analytics are going to be the focus areas for marketers in the next three years
• Digital media-spend is slated to be INR 18,500 crore by 2020, constituting a larger pie of the overall media spends
• The big spenders on digital media will be: E-commerce accounting to 19% or INR 1,309 crore of the total digital spends; FMCG at 14% (INR 935 crore); Telecom (12%) and BFSI (11%); The other significant contributors are consumer durables (9 %), automotive sector (8%), media & entertainment (8 %) and retail (6 %).
New-age tools for better ROI