Netcore Solutions, a digital marketing technology solutions provider, has announced its foray into the marketing analytics and customer analytics segment in India.
With this strategic move, the company will offer marketers the capability to adopt their marketing automation platform, Netcore Smartech, with intelligent customer and marketing insights derived through this analytics service.
With this decision, Netcore predicts to gain 15 percent YoY growth in the order book which will give a good fillip to overall revenue in the next five years.
The Indian marketing 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 percent till 2020.
While companies are keen to adopt marketing analytics to reach target customers, the concept has not picked up momentum in India. The market is largely served by pure-play analytics firms, thus creating a vacuum whereby whereby marketers were unable to get a unified view of the customer as multiple vendors would handle each marketing channels, which mostly resulted in data lying in silos.
Netcore, with its integrated solution combining customer analytics, cross-channel marketing automation and marketing analytics, will empower marketers and analysts with the insights they need to make every customer interaction smarter, the company said.
Elaborating on the decision to diversify into analytics segment, Kalpit Jain, CEO, Netcore Solutions, said, “India is currently witnessing a trend of ‘parallelism’ in consumer behaviour. Consumers today have multiple personalities depending on the time, place and platform they interact with a brand. The attention span and turnaround time are also shorter than ever before.”
The scenario demands a holistic outlook of the customer – encompassing insights on customer demographics, digital activity, transactional data, key customer attributes, and behavioural data, Jain added.
In terms of sectors, presently, BFSI is the biggest adopter of analytics services in India. Of the total revenue earned by analytics industry in India, 37 percent of the total amounting to $756 million in revenues is contributed by the sector. This is a 31 per cent increase compared to last year.
While Netcore has already started providing services to some of the key companies from the BFSI segment in India, it plans to roll out the analytics service in a phased manner to Malaysia, Singapore, and Nigeria where it has a strong presence in the marketing automation space.