In the current age where data is everything, there is a group of market experts who use consumer data to target them and get them online, one such pioneer in the business is Targeting Mantra. In a conversation with Digital Market Asia, Saurabh Nangia, Founder of Targeting Mantra shared how they study consumer behaviour and help ecommerce companies in reaching out the consumer in a much more effective manner using data.
Targeting Mantra is a personalisation solutions company based out of Silicon Valley. ”We seek to provide what the consumer is actually interested in India as it narrows down the search process and help the consumer discover products based on his tastes and preferences,” explained Mr Nangia.
The returns of the features are evident in the client’s balance sheet under revenues sought through consumer conversion. In mathematical terms, consumer conversion rate is the proportion of visits to a website who take action to go beyond a casual content view or website visit, as a result of purchase via the shopping platform.
Though our personalisation features we increase the revenues for the ecommerce platform and this eventually drives a larger consumer base to the website. If the consumer is able to easily find what he is looking for, more and more consumer would join the ecommerce bandwagon, he added.
Targeting Mantra creates a different account or profile for each individual e-consumer which stores information based on his taste preference. They track what are the kind of products the consumer is parking in his shopping cart and based on that information it fishes out the product for the consumer. They track the interactions of the e-consumer, stores this information an accordingly delivers a relevant product.
However, its services should not be confused with that of remarketing. Targeting Mantra does not ‘follow’ or ‘haunt’ the consumer after he has left the ecommerce website and ensures that its strategies are put to use while is consumer is still on the website and does not leave without buying a product he is interested in.
Going forward, Targeting Mantra has rolled out its one touch personalisation feature where clients can access the personalisation feature of the company with one touch. “It seeks to provide a hassle free usage of the service where the client have the freedom to customise the look and feel of the dashboard according to their preferences,” said Mr Nangia
Following its tie-up with Shopify and Magento, Targeting Mantra is all set to change the virtual world through the 240,000 online stores on the Magento and Shopify platforms. The personalisation suite is powered with over 16 features enabling ecommerce merchants with personalisation elements and analytics tools to maximise return on investment.
“As we gear up to enter 2015, it is important that retailers realise the value that personalisation brings to the brand via higher engagement, relevance and better conversions. The Shopify and Magento integration is a crucial step in building a healthier ecommerce eco-system and helps ecommerce companies to deliver better to their existing and potential customers”, said Mr Nangia.
Earlier the online service company was only focussing on enterprise companies but now it is expanding its services to small and medium sized businesses as well, who do not have the budget to splurge on engineers for consumer targeting.
“Our services are available at USD 50 a month, which is not a big amount for ecommerce companies for consumer targeting. Using our personalisation feature, ecommerce companies do not have to hire technology officer which will take away a large chuck of the budget,” added Mr Nangia.
Besides India, Targeting Mantra views immense opportunities for its personalised feature in various market such as China, Thailand, Indonesia and Brazil. Particularly, it sees huge potential in the Southeast Asia region.