This Techpreneur is helping Retailers Maximize their Revenue From Marketing Campaigns Using AI
The fact that digitalization will revolutionize the industry is triggering the shift among retailers to adopt new technologies
Be it online, offline or omnichannel, today, retail is all about giving the best customer experience and technology is helping the industry to achieve its newly discovered goal. From frontend to backend, the new age technologies like artificial intelligence (AI) are not just making machines smarter but also business by helping it make optimum use of the allocated resources.
After a lot of hits and misses, retailers today understand that they have to become a digitally savvy business to remain relevant in the future. If they fail to do so, their stubbornness will make them irrelevant.
This awareness and how digitalization will revolutionize the industry is triggering the shift among retailers to adopt new technology.
The Age of AI
Xeno was started by Pranav Ahuja and Ayushmaan Kapoor in 2015. The company has scaled up from a hyperlocal reward program platform to a technology company helping retailers to maximize their Revenue from marketing campaigns using AI.
In a conversation with Entrepreneur India, during the Retail Leadership Summit in Mumbai, Ahuja says two years back AI was an alien world to most of us and people (apart from tech and business circles) didn't really understand the technology. But things have now changed.
"I think AI has the potential to unlock things that human beings were never been able to do before. In the retail sector, store experiences are going to change. From online to offline, you can create the same experience when the customer is shopping with you. AI will also be transforming the marketing department and the backend tools," he shared.
Coming back to Xeno, the startup presently caters to over 100 retailers – which include brands like Arvind Fashion and Indian arms of international brands like Nandos, Dunkin Donuts, Taco Bell, US Polo, etc.
Commenting what is so unique about Xeno, Ahuja says, "Most of the present solutions are targeting existing customers on focused channels like SMS and e-mail. But we are bringing in social media channels such as Facebook, Instagram, etc to reach out to the target group. This helps us get a lot of attraction and to prove return on investment (RoI)."
Additionally, unlike other companies – where the marketer analyses existing the data and then prepares a marketing campaign, Xeno would expect its client to do otherwise.
"We ask the client to make one campaign and understand the different attributes of the customer and while sending them out the campaign, we will automatically personalise everything about the campaigns - from the content, which includes the products and offers to time, channel," he pointed out.
Meanwhile, in the coming few months, the Ahuja hints that the Xeno's existing services will be expanded to which will further boost the startup's growth.