NetCore's ‘Raman’ boosts Kotak Securities’ Email Communication Performance
Netcore Solutions, a global marketing technology company, today announced that Kotak Securities has achieved a 25% rise in its email open rates and lead conversions in customer engagement by using Netcore’s Artificial Intelligence (AI) Engine ‘Raman’. This achievement is yet another case of successful use of futuristic technologies such as AI and ML (Machine Learning) by brands seeking to grow their digital marketing Return on Investments (ROI).
Netcore’s Smartech is the AI-powered marketing automation & analytics suite by Netcore Solutions. Netcore recently named its AI engine as ‘Raman’, as a tribute to two renowned Indian scholars - Nobel Laureate & Physicist CV Raman, and the mathematical genius S. Ramanujan.
Kotak Securities leveraged the Send-Time Optimisation (STO) feature of Raman’s ML suite. Companies use it to communicate with the right customer at the right time, i.e. when the customer is most likely to be engaged on a particular channel – in this case email. Backed by actionable analytics, STO gathers data from the user’s pattern of use of the inbox to arrive at times when he/she is most likely respond to email communication from the brand.
The emails then get triggered around those times, so that the brand’s email lands into the customer’s inbox under the ‘primary’ tab rather than under the ‘promotions’ tab when the user is most likely to access the same. This is how brands are able to boost top-of-mind recall and potential conversion by adding another dimension of personalisation to their engagement campaigns.
Jaimit Doshi, EVP – Marketing, Kotak Securities explained, “Send Time Optimisation as an ML feature on Netcore’s Smartech has given us an uplift of 25% in open rates. This has led to increased clicks, resulting in increased lead conversions. We can now reach out to customers at the most optimal time personalising the entire outreach.”
Kalpit Jain, Group CEO at Netcore Solutions, said, “The results of using Raman’s ML capabilities to boost lead conversions for Kotak Securities’ have been very encouraging. Kotak Securities is blazing the trail for brands in this space to adopt AI/ML to augment their capabilities in marketing. We are moving towards a future where AI-first companies will have a distinct competitive advantage, improving not only their marketing ROI but also their brand value and customer relationships through hyper-personalised engagement at every stage of the customer lifecycle, across both web and app platforms.”
AI/ML in marketing automation are playing a pivotal role in further transforming the marketing domain, with features such as content optimisation, preferred channel, smart segmentation, and more. These features will further empower marketers to optimise their multi-channel marketing efforts, critical to deliver personalised experiences at scale.