Marketing: Disrupted and Simplified (Part 24)

The Constellation

Bringing to life the world of ABC (Analytics, BCG and CLV), C2E2 (Customer Communications, Engagement, and Experience), M3 (Messages-Microns-Mu) and AMB (Adtech-Martech Bridge) is beyond what a single company can do. What it needs is a collective – a constellation.

In astronomy, a constellation is a group of stars that forms a pattern in the night sky. As Wikipedia puts it, a constellation is a “recognisable pattern of stars whose appearance is associated with mythological characters or creatures, earthbound animals, or objects.” Examples of constellations include: The Big Dipper/Ursa Major (‘The Great Bear’), The Little Dipper/Ursa Minor (‘The Little Bear’), Orion (‘The Hunter’), Taurus (‘The Bull’) and Gemini (‘The Twins’).

In businesses, a word that as used in the context of Japanese companies was keiretsu. According to Investopedia, “Keiretsu is a Japanese term referring to a business network made up of different companies, including manufacturers, supply chain partners, distributors, and occasionally financiers. They work together, have close relationships, and sometimes take small equity stakes in each other, all the while remaining operationally independent. Translated literally, keiretsu means “headless combine.” Examples of keiretsu groups include Mitsubishi, Mitsui, Sumitomo and Sanwa.

In global business, two words that have become common are platform and ecosystem. Almost every company likes to use one of these to define what they are doing. I prefer the word “constellation” – to define a group of companies that work together to solve problems none can solve on its own.

At Netcore, we have been working to build such a constellation of companies. Two partners are EasyRewardz and ProfitWheel. Together, this trio can help implement the many ideas we have discussed here.

ABC: Netcore and EasyRewardz can help do this for online and offline companies. The goal is to aggregate data from all touchpoints into a CDP, and then use CLV to segment customers and identify the brand’s Best Customers. These are customers who need Velvet Rope Marketing – a way to create differentiated experiences so that they never churn and maximise their category spend with the brand.

C2E2: This is what Netcore has been focused on for many years.

EasyRewardz too has significant capabilities in customer lifecycle management. As the Netcore press release about its investment in EasyRewardz put it, “With this strategic investment, Netcore Cloud can now do a tighter integration with the Easyrewardz platform and offer the CLM stack to its customers, across all the touchpoints, building on their promise of Omnichannel Intelligent Customer Experience… Leveraging deep integration of the platforms from Netcore and Easyrewardz, we are excited to bring to our clients, a true omni-channel marketing automation suite, integrated with POS that offers real-time rewarding capabilities across points, coupons and vouchers, and experience assessment via feedback, survey or polls.”

M3: This is a new idea that we have been working on at Netcore.

Mu can be integrated into any push messaging channel by any brand, instantly creating a rewards mechanism for attention and desired action, as precursors to transactions.

AMB: This is where ProfitWheel comes in. By taking data from martech platforms, it can improve new customer acquisition to focus on those customers who have the attributes of the Best. Data about new customers can also be used to improve the onboarding experience for future Best customers.

Together, Netcore, EasyRewardz and ProfitWheel are pioneering a new approach of multiple companies (stars) working together to create new patterns and drives business objectives (a “profit constellation”) which no single entity on its own can provide.

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.