A new tool from Xerago, a leading name in the digital marketing services industry, may just be the answer to many needs faced by brand marketers today in the area of digital marketing. Point Of Purchase brings you more dope on this.
As the world shrinks, the inevitable takes centre stage. Enter digital marketing, a force to reckon with for most brands today. Indeed, with around 70% of world population consuming online content daily, the clutter of online information makes the customer and the marketer cringe at the mere thought of digital marketing. Right from solving problems of segmentation to handling channels to guiding the life cycle, and handling the functional marketing problems of the brand, there are many aspects to be looked into. Companies, brand and marketers are therefore on a constant look out for a comprehensive and analytical tool. Stepping in here to address these issues in the realm of digital marketing is Xerago an industry leader with its suite of tools which, according to the company’s Co founder and CMO, Srinivas Chari, basically uses analytics, creative and a robust process to execute marketing interventions and problem solving programmes for brands.
Says Chari speaking on the need for digital marketing, specifically a comprehensive and relevant tool, “Today customers own the on and off switch to all media/mediums, are more knowledgeable/empowered about various products and services they are being marketed to and have huge clutter to deal with. Thus marketers are actively seeking, investing and mastering newer methods and tools that go beyond making their brands merely visible to ones that allow better consumer understanding, precise targeting, customized offering and above all that which engage and let them have a two-way conversation with their customers.”
And it is exactly with this on view that Xerago offers its niche products suite, the X-Alt, that drives integrated RoI-led marketing with the following features:-
1 Media Attribution and Comprehensive Customer Acquisition RoI
2. Real time dashboards for marketing programs
3. Plug-n-play plumbing solutions that solve the Big Data aggregation
4. Multivariate optimization across inbound and outreach campaigns
Besides, Xerago also provides marketing returns, what it calls ‘Customer Value Maximisation’. This includes development of a process that automates large web portal management (applied for patenting) among others. Besides, the company has also built a number of tools that range from campaign management platforms to workflow and project tracking products. They include a multivariate optimisation tool, Ad serving tool, web tracker and an ad landing page optimizer, to name a few.
Well for brands, the benefits of implementing digital marketing programmes with such tools are many fold:
Ease of tracking and monitoring results and response
Comprehending and understanding audience wants
Scaling based on test-and target audience response
But then each brand has its own needs given its segment of operation and given this, the Xergao tools are customized with specific strategies:
1. Start with Data, and analyze it to
5. Test the strategy over the control group and calibrate based on learning
2. Build on insights using marketing
3. Map clients’ target audience scientifically by personal development and mapping consumption habits
4. Evolve a strategy and tacit plan with specific value proposition for each stakeholder segment
6. Share the strategy with client
Says Chari speaking about the company’s client relationships and ROI, “Our relationships with clients are always long-term partnerships where we Assess, Measure, Manage and Optimize their marketing programs. Our revenue model is based on the results that we produce with our marketing interventions. And we engage with clients on the basis of Annual Contracts.”
Xerago’s working methodology may be illustrated thus:-
Xerago shared two case studies to demonstrate the use of their tools:
a) HDFC Bank – This sophisticated user of campaign management, wanted to identify customer segments based on Demographics, Customer Life Stage in the Bank, and Propensity for Balance build-up and also wanted to identify potential “Good Banking” customers for differentiated treatment, regardless of current balance. Xerago thus created a Customer Life Stage Management model - a systematic approach to identifying stages of customer relationship, adding clarity to customer contact and engagement.
b) Event Based Marketing: Xerago Assessment revealed opportunity for Event Based Marketing wherein it deployed 200 triggers and managed the delivery of customer interventions that resulted in huge cross-sell. The response rates improved drastically and the ROI was achieved in 30 days.
Well, given the scope for digital marketing, one would obviously see new trends in terms of client needs and demands and according to Chari, these are:
1. Trust in Advertising
2. Geo-location over context
3. Big data roll-ups bridging the digital divide between offline and online
5. Effectiveness of Social media
6. Increase in mobile eye-balls
7. Latency in ecommerce showing
signs of reversal
Further, digital marketing has ushered in the following virtues to traditional marketing initiatives:-
Accountability / RoI
Well, in spite of all these, challenges in this space are inevitable. To begin with, as Chari says, is the challenge of building a talent pool. “We started with a core crack team but identifying, nurturing and retaining a talented team that would help us in scaling up was a key challenge. Thus we had to heavily invest in creating process IP to building a mature delivery model, to overcome this challenge.” The other challenge, according to him, was of course concept selling. “Driving the concept of accountable or ROI based marketing was truly a big challenge as marketers were used to a conventional ‘spray and pray’ kind of traditional advertising led marketing models. It was hard to convince marketers to switch from traditional thinking about media choices and marketing.”
And then there was the challenge of “Bootstrapped growth”, as he puts it because of which the company was forced to operate largely in India and Asia.
But these challenges notwithstanding, Xerago today has a client portfolio of reputed brands such as Citibank, Microsoft, HP, Vedanta Group, HDFC, ICICI and Hindustan Lever among others and today Xerago figures in the list for almost any global RFP floated by Fortune 1000 and large organisations.
Growth estimates in digital marketing industry is what obviously makes Xergao bet on its tools and solutions. For example, according to Chari, the digital marketing market size in India is estimated to touch close to Rs 2000 crore in the next two years, from Rs 600 crore.
Says Chari further, “For the progressive marketer, the real challenge only begins from here. Over the next decade, traditional media will undergo upheaval in terms of re-configuring budgets in favour of Social and Search. And other trends where Mobile will be the device of choice to consume content.”
The whole space is obviously set for exciting times ahead!