Netcore Cloud is a globally recognized martech and SaaS company helping B2C brands with a range of products that help with acquisition, engagement, and retention. The organization was founded in the year 1994 with limited capital and a workforce of 20 employees. Today Netcore Cloud stands tall in the space of marketing technology with 500+ employees, has its presence in 18 countries and is trusted by 5,000+ brands globally including Mobile Premier League, Airtel, Flipkart, ICICI Bank, Myntra and The Body Shop, to name a few. Below is a transcript from an interaction with Kalpit Jain, Group CEO at Netcore Cloud:
Prateek: Please tell us about Netcore Cloud, its vision, and its mission.
Kalpit Jain: Netcore Cloud was founded in 1997 with limited capital and 5 employees. Today, we stand tall in the space of marketing technology with 750+ employees, a presence in 18 countries, and the trust of 5000+ brands globally. In today’s digital-first environment, Netcore Cloud’s AI-driven marketing automation and customer data segmentation successfully offers brands a comprehensive view of their consumer and helps transform the customer experience.
At Netcore Cloud, we always work towards building on our vision of delivering “Intelligent Customer Experiences” across all digital touchpoints. We provide all three – engagement, experience, personalization, and communication on a single platform.
Our partners are companies looking for a martech solution that delights customers on their websites, apps, and other communication channels. Therefore, our mission is to empower them to deliver exceptional one-on-one customer experience and create strong customer relationships across all digital touchpoints. To do this, we work at the forefront of modern-day technology, be it Artificial Intelligence/Machine Learning, data analytics, or hyper-personalization across our multiple product sets for marketers.
Prateek: How does Netcore Cloud uses AI and ML to deliver a delightful experience to customers?
Kalpit Jain: The combination of AI (Artificial Intelligence) and ML (Machine Learning) enables brands to understand their customers better. Netcore Cloud is moving from data-driven marketing to more intelligent marketing powered by AI and ML, where algorithms decide the right message at the right time to the right user and use the right channel. We bring the best of Martech and Communications-Platform-as-a-Service (CPaaS) and have successfully enabled brands to deliver contextual, personalized, and delightful customer experiences across multiple industries.
With omnichannel personalization on-site and off-site, we are at every customer touchpoint across the purchase journey. When a customer lands on a client’s website/app, our AI engine, Raman, evaluates their past behavior and helps them identify the right product. Our contextual nudges help unobtrusively push users towards the right set of products. Even when not on the website, our AI engine uses emails, SMS, WhatsApp, WPN, and APN, to send them tailor-made communication and drive them towards the website or app. Our AI-led personalization is the best-in-class giving 20% better purchase recommendations, increasing conversions by 8-13%, and increasing the marketing ROI by 10-15x.
Prateek: What are some of the offerings of the organization?
Kalpit Jain: As a full-stack Digital Experience Platform (DXP), Netcore Cloud’s suite of products – from customer engagement and experience, Personalization, and product experience to email API and journey orchestration, helps pave the way for global businesses to scale customer experience effectively. Currently, we are working with 5000+ B2C brands in India, Asia, the US, the EU, and MENA. Our products help marketers to create personalized and appropriate communications and experiences for their customers across websites, apps, and messaging tools. Because of our unique offerings, we have seen some great successes in the last two decades. We work at the forefront of modern-day technology across our multiple product suites to provide CMOs and growth managers with more intelligent consumer acquisition, engagement, and retention approaches. In India, 3 of 4 enterprises use at least one of Netcore Cloud’s products. Also, 75% of India’s email traffic and 50% of Asia’s email traffic goes through Netcore Cloud. Beyond that, we have received lots of recognition from customers for helping them to improve their campaigns and generate more ROI from their spending.
Using AI-based delivery for primary in boxing, we successfully empowered Myntra to achieve an astonishing 60% improvement in email campaign performance- 2X that of average industry standards. Furthermore, after partnering with Swiggy, their user engagement went up by 1.5x and unique open rates by over 2x. We also empowered them to achieve 95% Primary Inboxing in Gmail while unique click rates doubled in six months.
Prateek: How does Netcore Cloud use data to provide insights and provide brands with personalized marketing strategies?
Kalpit Jain: Today, personalization has become indispensable for brands, as consumers have access to content from several channels. Sometimes, the information overload interferes with a customer’s ability to make a purchase decision; however, personalized content never fails to capture interest. Hence at Netcore Cloud, we continuously enhance the customer data platform, which combines multiple tools to create a unique customer profile. Data plays a pivotal role in developing a better understanding of customers and improving the product experience. Our new offerings within our AI Engine Raman helps marketers make sense of the vast volumes of data they generate, empowering them to make better decisions.
We track over 100 billion consumer behavioral events every month, elevating our partner-base to make intelligent & informed decisions on their sales initiatives.
With Ramans intelligence available out of the box, brands are for example able to personalize the best channel to communicate with a consumer, the best time to communicate with a consumer along with predicting consumers who meet an objective such as a discount affinity, likelihood of engagement or have certain product affinities. Along with this, we assist brands in communicating with the predicted consumers via relevant and personalized product recommendations, contextual messages while the user navigates through any page of the website and App or with any offline channels orchestrated according to the lifecycle stage of the consumers journey.
Prateek: What will be the roadmap for the year?
Kalpit Jain: Over the last two decades, with our dominance in the AI-powered customer engagement and personalization space, Netcore Cloud has garnered a larger market share. We have continued to grow at a remarkable pace thanks to our focus on driving value to our customers. We continue to raise the bar with our constant efforts in product innovation. In 2022, we will continue focusing on cutting-edge solutions, building our team, and expanding our presence while keeping customers at the heart of everything we do.
We plan to increase revenues from international markets across North America, South America & Europe to 30-40% by 2025 through strategic partnerships and acquisitions. We will also be expanding to other regions, including ANZ, the Middle East, and the African continent. Our employee strength will reach 1,600+ employees this year, and our teams in global locations will fuel the company’s dynamic growth and maintain our market leadership position in SaaS capabilities globally.
Our primary focus is to help businesses engage better with their customers and meet their retention and growth goals. We expect to implement some exciting strategies in Martech like Velvet Rope Marketing. Email2. Atomic Rewards. Netcore has a unique opportunity to build a “profipoly” (profits monopoly) – not just for ourselves but also for our customers.
Moving forward, we are finding companies and technologies for acquisition that will empower us to add further value to the brands that work with us.