The Leading Online Fashion Platform Has Improved Campaign Performance by Twice the Average Industry Standards
Myntra, one of the most recognisable brands in the country’s digital fashion space, continues to benefit greatly from Netcore’s AI-powered growth marketing platform, Smartech. Myntra has been able to power customer engagement at incredible scale using Smartech’s comprehensive analytics and engagement ecosystem to produce 60% better results when it comes to their email marketing campaigns.
This uplift which is 2X that of industry standards, underscores how established brands can hit impressive growth figures by incorporating AI as part of their broader marketing strategy. These results were achieved by partnering with Smartech, a product of Netcore Solutions, a global pioneer in the martech space, for over 4 years.
In these times of multi-channel engagement, email continues to be the most valuable channel for marketing messages, with average open rates of 17% and CTRs (Click-Through Rates) of 2.3%. Therefore, it has a significant impact on the bottom-line of online retailers since conversions are directly related to campaign performance.
Myntra’s pressing challenge was to ensure that its marketing emails get delivered in the ‘Primary’ tab of their customer’s inbox, rather than the ‘Promotions’ tab. Driving Primary Inbox delivery drastically enhances the chances of eventual conversions instead of getting lost in the daily clutter of other promotional email.
Smartech addressed this challenge through a 3-pronged approach:
- AI-powered Dynamic Delivery: Smartech helps enhance delivery rate through Primary Inboxing, which helped increase the Click-Through Rates (CTRs) by 1.5X
- Neural Networks coupled with Smart Segments: A component of AI, Neural Networks identified customer segments based on their brand affinity, gleaned from data regarding their interactions and transaction history. These can pick up the smallest of signals with regard to delivery used to then auto-adjust the campaign throughput
- Consultancy-driven Content Optimisation: By leveraging Smartech’s AI and Machine Learning capabilities, Myntra was able to zero in on the right content and creatives for its audiences as well as identify the best times for sending their emails, all aimed at maximising conversions through compelling calls to action
Mr. Aashish Kumar, Senior Manager, CRM & Growth at Myntra stated, “Netcore’s Smartech has been critical to our customer retention strategy, and we have partnered with them for 4+ years now. Using AI-based delivery, Smartech has helped us in Primary Inboxing, achieving 60% improvement in email campaign performance which is 2X that of average industry standards.”
Kalpit Jain, Group CEO at Netcore Solutions, added, “Myntra has been a valuable partner over the years and we are thrilled to be playing a role in their growth story. Brands that adopt AI and Machine Learning as part of their marketing strategy is far likelier remain ahead of the curve. Our work for Myntra highlights the immense power of AI in making the best possible utilisation of customer data, and should serve as encouragement for marketers across the industry. We look forward to scaling greater heightswith Myntra in the years to come.”