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The E-commerce landscape in India is experiencing a dynamic shift, largely driven by the increasing influence of digital channels and has evolved into a multifaceted ecosystem, and our approach reflects this complexity, said Srikant Rajasekharuni, CEO and Co-founder, Red Matter Technologies (RMT).
Speaking to Opportunity India, Srikant said that the e-commerce solutions encompass an intricate interplay of elements, from designing a seamless user experience to optimizing navigation, creating efficient sales funnels, and harnessing data-driven analytics.
“We understand that every component, including branding, technology, and marketing, plays a pivotal role in the success of e-commerce ventures and our uniqueness lies in offering end-to-end consultancy, empowering our clients with comprehensive strategies,” he added.
RMT is an innovative marketing consultancy that specializes in providing tailored digital marketing solutions to meet the unique requirements of businesses. Established in 2015 in Hyderabad by a group of the visionary founders including Srikant Rajsekharuni, Rohit Tirunellai, Bhagat Marla, and Avani J Marla, the company was born with a mission to empower small and medium-sized enterprises (SMEs) through the transformative potential of digital technology.
According to Srikant, innovation is ingrained in every facet of RMT’s operations and client engagements. “We are relentless in our pursuit of staying ahead of industry trends, harnessing the power of cutting-edge technologies, and incorporating advanced AI techniques. For instance, we employ generative AI in copywriting and design, enabling us to craft compelling and tailored content at scale,” he said.
The company uses industry standard tools to help streamline their operations and communications. Beyond these tools, it has developed its own proprietary internal tool, designed to efficiently track man-hours allocated to each client according to their unique scope of work.
What truly sets this tool apart is its ability to send real-time notifications, alerting us to any deviations from predefined effort levels for individual clients. This proactive approach ensures that we promptly address potential concerns and maintain the highest standards of client service.
Srikant emphasizes that the foundation of our commitment to adaptability and innovation lies in our client-centric approach. We place a strong emphasis on gaining a deep understanding of our clients' specific goals and challenges in diverse sectors such as Healthcare, Real Estate, FMCG, Entertainment, Hospitality, Education, and F&B. This approach ensures that our digital solutions not only deliver effectiveness but also maintain a high level of relevance.
Continuous learning is a core value at RMT. It focuses on investing in ongoing training and professional development for team members, enabling it to stay ahead of emerging trends and technologies.
Furthermore, a proactive approach includes extensive market research to anticipate shifts in consumer behavior and digital trends. This information guides our strategies, allowing us to adapt quickly to new developments in the digital landscape. Above all, our organizational culture promotes adaptability, agility, collaboration, and innovation. We embrace change, pivot when necessary, and encourage creative exploration of emerging technologies to deliver dynamic and effective solutions to our clients.
“Our approach to content creation is rooted in a deep understanding of the target audience. We recognize that content is not just about what we want to convey but about what the audience wants to consume. Our philosophy centres on consumer-centricity, and we prioritize demand-side thinking over supply-side,” he said.
To ensure that our content resonates with the target audience while maintaining brand integrity, we employ a multifaceted approach. We leverage frameworks such as Jobs-to-Be-Done (JTBD) and the Path to Purchase model to gain profound insights into consumer needs, motivations, and behaviors, he said.
By adopting a Job-To-Be-Done (JTBD) framework, the company dissects the underlying 'jobs' or goals that consumers aim to accomplish with our client's products or services. This empowers the company to create campaigns and content that directly addresses these needs, ensuring that it resonates on a fundamental level.
Srikant said that one of our notable success stories is our collaboration with Happi Mobiles, a multi-brand mobile phone retailer. “Through tailored e-commerce solutions and data-driven marketing campaigns, we achieved remarkable results, with Happi Mobiles experiencing campaign ROAS rates of up to 15x. Moreover, we consistently drove nearly 15,000 visitors to their physical stores every month, bridging the gap between online and offline retail seamlessly,” he said.
Additionally, the company maintains a keen focus on brand integrity. While tailoring content to appeal to the consumers, it ensures that it aligns seamlessly with the brand's values, messaging, and identity. This harmony between consumer-appealing content and brand integrity result in compelling narratives that engage, inform, and ultimately convert audiences.
Speaking about the trends, Srikant said that we've witnessed a seismic shift in consumer behavior that has reshaped the landscape of digital marketing. One of the most notable trends has been the accelerated adoption of e-commerce. With lockdowns and social distancing measures in place during the COVID-19 pandemic, consumers turned to online shopping for their everyday needs. This surge in e-commerce has compelled businesses across industries to reallocate their marketing budgets toward digital platforms. The focus has shifted to creating seamless online shopping experiences and optimizing digital touch-points throughout the customer journey.
“The realm of news and entertainment has experienced a major transformation. Over-the-Top (OTT) platforms have witnessed a surge in viewership as more people turned to streaming services for news, movies, and TV shows. The increased consumption of content on smartphones and connected TVs has propelled the growth of content marketing and film advertising. Brands now recognize the significance of reaching their audiences where they spend their leisure time – online,” he added.
He further said, these shifts in consumer behavior have necessitated a recalibration of digital marketing strategies. At RMT, we understand the importance of not just adapting but also staying ahead of these trends. Our strategies are geared toward creating impactful and meaningful connections with consumers in an evolving digital landscape. We help our clients navigate these changes by tailoring their digital marketing efforts to meet the demands of this new era, where consumers are more discerning and online-savvy than ever before.
He said that throughout this journey, we've observed multiple businesses adopting digital strategies for various reasons and at different stages of their lifecycle. These observations have led us to offer the following insights and recommendations for businesses seeking to establish or enhance their online presence and digital marketing strategies:
Define Clear Objectives: First and foremost, it's crucial for businesses not to get carried away with digital trends for the sake of it. The foundation of a successful digital strategy lies in clearly defining objectives. Businesses should take the time to understand their consumers' behavior in the online space, particularly in their specific category or for their product/service. These insights should then guide the strategy, ensuring it aligns with business goals.
Leverage Social Media Strategically: Social media is a powerful tool, but it's important to use it strategically. Many businesses fall into the trap of expecting immediate sales or conversions from their social media efforts. Instead, social media should be seen as a platform for community building, fostering top-of-mind recall, and creating long-term impact. Consistency and engagement are key to building a loyal online community.
Measure ROI Effectively: Understanding the Return on Investment (ROI) of each digital marketing activity is essential. Vanity metrics like impressions, reach, and likes can be misleading. It's crucial to keep a sharp focus on how each activity directly contributes to the business's bottom line. ROI analysis should guide decision-making and resource allocation.
Avoid the 'Hit or Miss' Approach: While digital marketing offers cost-effective ways to reach a targeted audience, some businesses fall into the trap of running multiple smaller campaigns with a 'hit or miss' strategy. They rely on trial and error methods without fully understanding the fundamentals of marketing and consumer-centricity. It's vital to keep consumers' needs at the center of all campaigns and not lose sight of the basics while exploring the digital landscape.
Choose Partners Wisely: The barrier to entry in the digital marketing industry is low, leading to a proliferation of agencies. Unfortunately, not all agencies possess the experience, understanding, or education needed to deliver meaningful results. It's essential for businesses to choose their digital marketing partners carefully. Look for agencies with a proven track record, relevant experience, and a deep understanding of your industry. Setting clear expectations and goals with your partner is equally important to ensure alignment and success.
