ProfitXL: Supersize Profits with the SHUVAM Framework (Part 4)


Over the past few years, marketers have combined multiple point solutions to create their martech stack to collect data from websites and apps, automate customers, segment customers, and run push and personalisation cross-channel campaigns. The problem? The fragmentation of data caused by the use of multiple solutions and the inherent difficulties in integrating software from different vendors. While CDPs and APIs have tried to alleviate the problem to some extent, marketers are still unable to get a single unified view of their customers. Also, siloed databases limit the efficacy of AI-ML systems to push the next best actions. So, while the first-generation of martech solutions brought in much-needed digital aggregation and automation, it also created new headaches for marketers.

It is time for marketers to upgrade the martech stack with second-generation all-in-one solutions. This “Unistack” which combines customer data, engagement and experience management with complete channel control will enable marketers to dramatically improve the efficiency of their customer relationships and take big steps towards the nirvana of frictionless omnichannel personalisation.

The second big improvement in outcomes will come from improving the search experience for shoppers. Most marketers tend to use the default search software which comes with their ecommerce platform or pick up an open-source utility to keep the spend low. This is a big mistake. Search has been the most powerful application on the Internet. On websites, customers have been trained to use search as a last resort option because the results lack relevance; a product may be in the catalog but between the inability of the merchandising team to describe it right and the imprecision in using words to type in the search bar, the product is never shown and thus doesn’t get sold. A powerful site search engine can do wonders for revenue growth. AI engines can widen product descriptions beyond what humans can, and match products to a consumer’s intent ensuring a happier shopping experience.

The third solution lies in the creation of a “Progency” – a new-gen martech services entity where product (unistack) meets agency. A progency can work like a performance marketing entity taking on KPIs and delivering the outcomes marketers want. For this, a progency will need to combine software and analytical skills with traditional creative skills, uniting left-brain and right-brain resources. It can work as an extension of the marketing department taking on specific tasks with success-linked compensation.

The Unistack embedded with quality search and propelled by the progency is the second success pillar after Hotlines, delivering the personalisation that customers want to fast-track purchases of products they desire.

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.