The question on Return on Marketing Investment (ROMI) has always confounded business owners, but never pinched as much as it does today – when COVID has put every expense under the microscope. ROMI is the incremental financial contribution generated by marketing over marketing spend. While this sounds promising, it is not as popular as it could or potentially should be. This is mostly as a result of its broad scope as well as some complexities and confusion when identifying and justifying what is tangible “financial contribution generated by marketing”.
Enter Resulticks, a young and fast-growing audience engagement technology solution that is enabling large brands to get a firmer grip on digital marketing investments by leveraging data and technology. We caught up with Redickaa Subrammanian – Co-founder & Chairperson of Resulticks.
What’s Resulticks all about?
In a nutshell, Resulticks is about catalysing smart business growth powered by seamless real-time audience engagement across touchpoints and devices. We empower organizations to improve the contribution of their digital and offline channels to top-line growth, cost-efficiently. How we do this is what our technology is all about.
Resulticks simplifies the complex job of optimizing customer data for business growth through a comprehensive technology platform. It delivers tangible delta in both digital process efficiencies and lowering cost of acquisition through appropriate digital interventions in real time across channels – email, SMS, web push, mobile apps and what have you. Cliched as it may sound, AI and ML is deeply embedded across our platform to enable various capabilities such as progressive customer data profiling, channel propensity, send-time optimization, predictive and prescriptive analytics, among many others.
In sum, Resulticks is a comprehensive, integrated and scalable customer engagement solution that automates many of the tasks that bedevil today’s marketers and takes much of the guesswork out of marketing and answers every marketer’s prayer — measuring and documenting marketing ROI at the segment-of-one level. The pandemic in 2020 has not only heightened digital adoption by organisations, but also compelled every professional to think like an entrepreneur, take accountability for every decision and dime invested to grow their business. Resulticks is that one technology solution to address all of the above.
In what ways did your Interakt Digital experiences help you build Resulticks?
We set up Interakt Digital in 2004, just when digital was beginning to gain traction. During our decade as the agency on record for some of the world’s most respected brands such as Levi’s®, Sony, New York Economic Development Corporation, Lenovo, Microsoft, Estee Lauder, amongst others, we gained immense experience with virtually every marketing technology platform and application in existence at the time – the good, the bad, and the dismal.
We observed the universal difficulty digital marketers faced in managing big data, orchestrating communications across multiple channels, and demonstrating a return on the significant investments in automation. A major source of their woes was that the different platforms they were using simply weren’t built to work together as a seamless integrated whole. Sure, some of the modules such as email, SMS, or data management would work just about fine as standalones, but they rarely, if ever played well together.
And yes, there were other tech companies that also recognized the opportunity. However, many of them went at it with a technology mindset. We had the advantage of learning from the mistakes of others but what truly sets Resulticks apart is our marketing mindset oriented towards business growth.
Can you share a few insights from your international experiences in markets such as the US and APAC?
In our short journey thus far, we have expanded across India, South East Asia and the US. The US is experiencing a 3rd and, in some cases, a 4th wave of evolution in Martech solutioning. It’s a very mature market where marketers and technology leaders understand and appreciate the value of a sophisticated, comprehensive solution like ours as they prefer a much neater and simpler technology architecture.
Let me share with you some specific insights:
- A single true view of customers based on structured and unstructured data is a highly felt need across industries, combined with the ability to engage with customers in real-time.
- Scale, speed of segmentation at the level of one and personalization are seen as much needed ingredients for sharper marketing.
- Real-time engagement across channels as well as offline-online customer journey optimization receive encouraging adoption as we’ve seen from our growing partnership with a large retail chain in the US.
- There is a dire need of flexibility to adopt a hybrid solutioning model, especially in industries like BFSI which demands adherence to higher data security/privacy laws.
In South East Asia, barring markets like Singapore and a couple others, most other markets are at the early stage of digital maturity, offering immense potential for innovative solutions like ours to partner with organisations inclined to progressing their digital capabilities. On the other hand, Australia, like the US, is a very evolved market.
We work with varied clientele in the APAC region ranging from banking to insurance to retail and have been able to demonstrate positive delta in their digital initiatives.
Could you talk about how Indian companies have benefitted from Resulticks?
We were very fortunate to be able to partner with Samsung – the largest mobile manufacturer in our very first year of operations and could demonstrate the value of big data through individualized targeting and hyper-personalized communication to drive revenue growth. India proved an ideal market for Resulticks to field test its capabilities as it offered a large consumer base and volume of data. We could enrich customer intel from just 2 attributes per customer to about 60 attributes enabling immense intelligence fueling more sharply targeted campaigns. 65% incremental conversions during this engagement were attributable to the brand’s program leveraging Resulticks.
Thereafter, we’ve continuously expanded our customer base to include engagements in the banking and financial services, retail, travel & hospitality as well as beauty and cosmetics industries. Our journey with HDFC Bank and UTI continues to be enriching and progressive in terms of enhanced agility and improved customer engagement. Last year, we embarked on a significant partnership with Tata Digital and have ambitions of leveraging their group company data to enhance their digital prowess. We are also at work with Aditya Birla Fashion & Retail in powering their omni channel customer experience journeys.
What are Resulticks’ growth plans?
We’re certainly pleased that the industry has recognized our rapid rise to becoming a contender on a global scale. Within just 3 years of our inception, Gartner placed us in their Magic Quadrant for Multichannel Marketing Hubs, and we’ve only moved higher up the quadrant every year since. We are among the top contenders in most cases and have even been picked over large global brands.
We’ve had heightened and broader engagements with varying kind of organizations in 2020 across all our markets and we are looking forward to partnering with some more significant names in 2021 to help them solve the more contemporary marketing challenges brought on by growth of digital. That said, it hasn’t been unicorns and rainbows all along. Like all businesses in our industry, especially relatively new entrants like us, we are faced with very stiff competition as well as the vagaries, volatility, and idiosyncrasies of the global marketplace.
Any entrepreneurial endeavour is fuelled by its ability to dream and dream big with absolute conviction. Our aspiration is to be the first-choice brand among organisations that are keen to sharpen their audience engagement prowess i.e to enhance capabilities in customer segmentation, engagement, multi-channel communication orchestration, meaningful analytics and cost-efficient acquisition – all leading to better ROI and customer affinity. We are in a very good position as an organization, given our legacy in marketing and technology as well as the global focus on leveraging data. In this context, there is only one platform that I’d want everyone to recognize, and realize value from, in the space of seamless, real-time customer engagement and that needs to be Resulticks.
How do you plan to fund Resultick’s growth ambitions?
Resulticks was boot strapped from our retained earnings of Interakt Digital to build the platform. Subsequently, we raised money from private investors from Europe, Asia and Australia – these are people who believe in our story. As we set out to pursue our growth ambitions, I am keen to invite discerning investors who understand the space we are in and more importantly, are able to appreciate and believe in our aspirations. The same goes for prospective partners. For us, it has always been about holding fast to our core values, sense of innovation and building relationships with those who share our vision.
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