Welcome To YFret TechCircle
In our modest attempt to connect to today's eCommerce marketer, YFret introduces to you the 'YFret TechCircle' - A new blog series! Here, we share with you blog posts that delve deep into technology that powers the YFret marketing automation platform. We're super excited to share our experiences and learning as we build YFret. You will read more about the back bone of our infrastructure, inside stories from the techies and much more that connects you to the heart of everything at YFret. If you are working on areas related to marketing/advertising platforms or data engineering, this series will take you through the basics of getting ahead in the eCommerce technology consumption game.
In this first part, you will be introduced to the YFret platform, the vision behind creating it, and the mission that we are working towards.
The YFret Platform - An answer to the digital marketer’s plight
A robust platform to tackle digital marketers' everyday challenges
YFret is pronounced as “Why fret” [Do not fret!] addressing the digital marketer of any online business.
It is hard to narrow down digital marketing to a particular aspect of online marketing. It is broad and varies across SEO, SEM, Content Marketing, Targeting, Email Marketing, Retargeting, Social Media marketing, Re-marketing so on and so forth. To get a sense of the depth and breadth of it, you can talk to the marketing executives in a Fortune 500 company, marketing operations head in a medium sized business or a marketer in a start up. It’s vast. Period.
As I write, the digital marketer's life is in a sorry state. There are various tasks that she is expected to perform and product results [Setting goals is easy, huh?]. Acquire customers, [re]-engage with the customers and consistently enable conversions [whatever conversion means in your context] to justify your job. And, there are plethora of tools that are built to solve each of these problems.
One of the reports mentions about close to 4000 odd marketing technology platforms out there. I know for sure that it does not cover all the tools under the sun. So add about 20% buffer to the 4000. A marketer, in order to perform her basic tasks, constantly runs into about 20-40 marketing tools on a daily basis. The number will vary slightly depending on the volume and the stage of your business. The number will only grow as data engineering is made simpler and the once specialised areas such as Artificial Intelligence (AI) and Machine Learning (ML) are becoming ubiquitous.
So, why yet another marketing platform? Why fret!
What is YFret?
Yfret is a virtual assistant to the marketer powered by deep learning. It is a good application of artificial intelligence for ecommerce. Imagine that there exists an assistant on your mobile, suggesting the best items/products to promote, figuring out the right audience to target on the best channels, all in less than 3 taps/clicks. That is Yfret.
Why We Do What We Do
Most of the existing tools focus heavily on one of these: user segmentation, building beautiful promotional (but essentially carpet bombing) campaigns, or personalized retargeting. And a whole bunch of tools support customer lifecycle campaigns and triggered campaigns.
In the real world scenario, personalisation addresses only a few percentage of customers. Customer lifecycle campaigns target even smaller volume of customers. In the ecommerce world, the marketing campaign becomes so ineffective because the set of products to promote depends primarily on the merchandising team, and then most often if not all times, the marketer rolls out plain vanilla carpet bombing campaigns declaring some discount on these products. No wonder no audience is interested and there’s every reason why GMail created separate promotion tabs to filter out such noise.
What if the marketer is ably assisted with a mobile companion that lets him target his customers at the pace of the merchandising team? What if the virtual assistant suggests the best products based on the product dynamics, discovers the appropriate audience for the suggested products and every thing happens in less than 3 clicks?
Yfret works effectively for promotional and personalized retargeting campaigns across channels. With Yfret, marketing goes mobile.
Where We Stand Today
We are serving about 250+ eCommerce and dozens of other online businesses as well. Our churn rate has been sitting at zero for more than 9 months. Our conversion rate or success metrics looks closer to 40% i.e 40% of the successful transactions on our customers’ website happens through one of our offerings.
Change Is In Your Hands
If you own an eCommerce business, we'd love to hear from you. Do you relate to the issues we have stated here? Are your marketing operations in a dilemma as to what tool or feature of a tool is best suited to up your game? Is the pressure of ROI tapering down your team's performance in showcasing what the customer wants?
We understand the delicate balance between realizing business objectives, being ahead in the market and putting your best foot forward with regards to the customer. Talk to us and we can assist you in solving these puzzling scenarios using contemporary technologies. Give us a holler, and we'll have our experts consult with you.
YFret - The Ecommerce Marketing Assistant