18 May Credibly communicating tangible biz value: In conversation with Nikunj, founder Shoppr
Credibly communicating tangible biz value
CIE brings to our Deeptech community,
Fire Up Founder Insights series 6th edition, hosted by our COO, Mr. Ramesh Loganathan. The series is brought to you as a part of Startup Gyan Blog series by CIE-IIITH where we feature our founders and talk about their Startup status and the journey so far through conversation on specific topics useful for other Deeptech startups and the community at large.
In Conversation with Nikunj, founder Shoppr:
Started in 2018, Shoppr is a Growth Platform (Marketing Analytics + Targeting) for e-commerce stores, built to provide campaign and audience insights from an e-commerce platform along with the most popular Ad Networks and Email. This builds context and improves targeting across marketing channels using data driven techniques. With 1500 registered users(400 monthly active) and 500 online stores, Shoppr has made it mark in over 30 countries globally.
“Our clients from previous company were designing marketing campaigns based on intuition and assumptions which led to revenue leak; more spend with less ROI. That’s where we stepped in with data-driven platform, Shoppr”
The primary value added to the client is through insights and data points to decision making for e-commerce stores. The platform helps in reducing customer acquisition cost(CAC) and increasing return on investment(ROI).
Value addition for clients:
- Saving time spent on understanding the data points
- Aiding Decision-making based on demographics and segments
- Providing Insights to target the right audience
Communicating to the first set of customers:
- Talk to potential businesses before building the platform
- In case of e-commerce segment, spread your idea to multiple platforms
- Seek feedback and onboard the early adopters
- Explore the segment closest to the end-value offered
- Vertical integration with other platforms with common end benefactor segment
Once the first set of customers are onboard, use their testimonials and referrals to establish the next suite of clients. Also, show how you are making more sales and revenues for your client as an outcome. The platform, for example, show the clients which channel is the best to promote your ads among Facebook, Google and Mail chimp through the intuitive data from historical performance and audience behaviour.
“We shifted the focus from technology to value created as customers either are not comfortable around the technical terms or do not understand how the platform would help the businesses”
The growth Hack tip:
Educating customers about the value created through your platform/product at an early stage. Write Blogs about the concept and things around your product to grow online presence and get feedback.
Watch the complete interview for some cool anecdotes and fun facts!
Keep watching this space for more under Fire Up Series.
Stay safe and sound!
– Sunita Kumari, Team CIE