90% of SME and Niche Retail Brands Are Missing Out - Big Time
Beyond product development, the success of a product is often determined by how it is marketed towards its target audience. Over the past few years, VK Transformation (VKT) has worked with numerous SME clients who experienced weak business performance despite their strong unique selling propositions, because of a lack of sales and marketing expertise, as well as an inability to properly utilise customer data.
With the advent of the digital age and the rise of e-commerce with Covid-19, the use of data science, and in particular, artificial intelligence (AI), as a tool in marketing, has become imperative to differentiate from the increasing competition. This is especially so for businesses who have successfully built and grown a sizable presence but have hit a growth ceiling, finding it difficult to take their business further with a wealth of customer data that remain untapped. According to an Adobe report, only 12% of smaller organizations are using AI for marketing.
The Data Science, AI & Machine Learning technology and how it can help businesses
While we are working with SMEs throughout the different stages of their business lifecycle (as shown in this diagram), it is important to recognize that the use of data science, AI and machine learning can help businesses accelerate sales performance.
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Accelerate Digital Growth using data analytics and AI
1
Build A Digital Brand Presence
Business Challenge
Businesses are facing challenges to scale their digital presence and brand awareness to keep up with the changing customer journey and behaviour.
2
Drive Better Digital Results
Business Challenge
Due to the competitive landscape, many businesses are facing difficulties in converting website visitors into qualified leads, customers and brand advocates from advertising and organic campaigns.
Business Challenge
Intense competition and poor targeting have led to many businesses' inability to improve their return on ad spend (ROAS) and cost per customer acquisition (CPA).
In line with collaboration as one of our core values, VKT has chosen to partner with Alavi.ai to complement our digital branding, sales & marketing solutions for clients because of its strong expertise in the field and its affordable rates, which ties in strongly with our passion in helping SMEs.
What can Digital Marketers do to improve results in just 30 days?
When eCommerce businesses hit a growth threshold, we collaborate with Alavi.ai, an AI-powered marketing analytics application that uses precision targeting to help SMEs grow their online revenue profitably. It is designed to be comprehensive, easy-to-use and affordable.
Using data science, AI and machine learning, Alavi.ai pulls and analyzes data from an online brand’s web analytics, ad platforms and CRMs to boost performance at every stage of the marketing and sales funnel.
Alavi.ai's main innovations include:
Ability to significantly improve an online brand’s Return on Ad Spend (RoAS) in less than 30 days
Helps brands acquire new customers, convert visitors who did not buy and increase repeat purchases of existing customers
Uses data science, AI, machine learning and automation to deliver expert workflows that digital marketers of all levels can use to achieve excellent revenue growth
Help digital marketers at all levels save substantial amounts of time launching and managing campaigns
Far East Flora’s Transformation with Alavi x VKT
Due to increased competition and broader targeting, in an attempt to grow its customer base, the team at FarEastFlora.com was not getting the expected ROI from their marketing investments which led to their decision to engage VKT.
We collaborated with Alavi, who utilised their AI engine to identify products to market and audiences to target, which the company then used to boost revenues without sacrificing its bottom line. In just 3 weeks, FEF Singapore managed to accelerate their growth profitability, with RoAS increasing by 21.75%, while AOV shot up by 20.33%. Today, the team at FEF continues to enjoy an extended partnership with VKT and Alavi.
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Interested to find out more about how data science and AI can maximise your digital marketing returns for your e-commerce business?
1. Does your online business have 10k monthly visitors and 1k online transactions? Accelerate your growth with Alavi’s automated AI and data science. Find out more about the application and try it for free here
2. Not there yet? Let us help! Sign up for a free consultation with us on how to build and grow your e-commerce
business with our data-driven, performance-driven and customer-centric approaches here
ENGAGE WITH US TODAY!
FOR MORE DETAILS CONTACT OUR TEAM
To help businesses accelerate their business recovery with maximum support, Enterprise Development Grant is available for VKT GO Digital Program. For SG Local Companies, available funding support is as follows:
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Up to 90% support for COVID-19 impacted industries*
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Up to 80% support for others*
*only till the end of September 2021
If you are interested to find out how EDG can help with your business goals, reach out to us at info@vktransformation.com today!
Vivien Koh
Founder and Managing Director
Practicing Management Consultant
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Cheryl Chia
Performance Marketing Analyst
Sammi Chan
Digital Marketing Consultant
Kelda Lim
Digital Marketing Consultant
For more information please go to: https://www.vktransformation.com. Reach out to us on our website and feel free to share our newsletter.