Netcore Solutions Enters $2.03 Bn Indian Marketing & Customer Analytics Segment
Bangalore, 6th December 2017: Netcore Solutions, India’s first and largest marketing technology solutions provider, today announced its foray into the marketing analytics and customer analytics segment.
NetcoreSolutions is now the only Indian company to provide an integrated solutionthat combines customer analytics, cross-channelmarketing automation and #analytics" target="_blank">marketing analytics. With this strategic decision,Netcore Solution predicts to gain 15% YoY growth in the order book which willgive a good fillip to overall revenue in the next five years.The Indianmarketing analytics industry’s present annual revenue is pegged to be around$2.03 billion and it is predicted to grow at a healthy CAGR of 23.8% till 2020.
Whilecompanies in India have shown a keen interest in adopting marketing analyticsto make informed, data-driven decisions and effectively reach out to the targetcustomers, the concept is still at a nascent stage. The market is largelyserviced by the ‘pure play’ analytics companies. This has resulted in a vacuumwhereby marketers were unable to get a unified view of the customer as multiplevendors would handle each marketing channels, which mostly resulted in datalying in silos.
With itsintuitive solution and a team of analytics experts, Netcore’s smart and easy todeploy solution will empower marketers and analysts with the insights theyneed to make every customer interaction smarter. Netcore marketing dataintegration services will bring together relevant customer data and on top ofit build summary data attributes to deliver a clever customer data mart whichis necessary for a seamless and effective data driven marketing campaign.
Usinganalytics and customer data mart, marketers will be able to identify mostprofitable customers, most frequent customers, most responding customers aswell as preferred products, channel of communication and much more. Differentattributes attached to each engagement will allow marketers to closely analysecustomer behaviour across every point of interaction. Consequently, this willhave huge impact on the cost of acquiring customers, improve retention rates,and reduce customer churn.
Elaboratingon the decision to diversify into analytics segment, KalpitJain, CEO, NetcoreSolutions said, “India is currently witnessing a trend of‘parallelism’ in consumer behaviour. Consumers today have multiplepersonalities depending on the time, place and platform they interact with abrand. The attention span and turnaround time are also shorter than everbefore. Therefore, a holistic outlook of the customer – encompassing insightson customer demographics, digital activity, transactional data, key customerattributes, and behavioural data – is imperative for the brands to improve RoIas well as reduce customer acquisition and retention costs. With this strategicmove, we will offer marketers the capability to marry expertise of our intuitivemarketing automation platform (Netcore Smartech®) with intelligent customer andmarketing insights derived through this analytics service.”
In terms ofsectors, presently, BFSI is the biggest adopter of analytics services in India.Of the total revenue earned by analytics industry in India, 37% of the totalamounting to $756 million in revenues is contributed by the sector. This is a31 per cent increase compared to last year.
WhileNetcore has already started providing services to some of the key companiesfrom the BFSI segment in India, it plans to roll out the analytics service in aphased manner to Malaysia, Singapore, and Nigeria where it has a strongpresence in the marketing automation space.