I spoke in early September at the Economic Times Martech Summit in Gurugram. ET BrandEquity has a story on my talk. An excerpt:
Rajesh Jain, founder and managing director of Netcore, identified ‘revenue taxes’ as one of the most significant challenges plaguing modern businesses. These taxes, which can consume 20-30 per cent of a company’s top line. Revenue taxes, as defined by Jain, include payments to ad platforms for customer acquisition and reacquisition, marketplace commissions and discounts for one-time customers.
“Globally, this waste amounts to a staggering $500 billion. In India alone, it is about $10 billion,” Jain said, adding that a vast majority of marketing budgets are spent trying to win back customers who have already transacted with the brand.
The solution, according to him, lies in building direct, deep and daily relationships with existing customers. This involves personalisation at an individual level, or what was termed ’N equals one’ and creating flexible, generative customer journeys that adapt in real-time, much like Google Maps reroutes based on traffic.
“Agentic marketing is what can help you stop paying the 20-30 per cent revenue tax,” Jain stated.”It is the only path to sustainable, profitable growth because what you’ve really got to do is to stop reacquiring customers you already had.”
Here is the deck I had presented.
