MarTech innovators set to rewrite the rules of customer retention in 2022

In the last couple of years, customer-facing businesses have witnessed cycles of challenges, opportunities, and adaptations. However, there is one recurrent element that cannot be classified as either a challenge or an opportunity: The proliferation of data. So, how are consumer brands, and their SaaS providers, perceiving this development?

“Surge in data can become an opportunity or a challenge depending on how you use it,” said Avlesh Singh, CEO and Co-Founder of WebEngage, a full-stack service provider specializing in customer retention, engagement, and automation. An influential SaaS entrepreneur, Avlesh Singh cofounded WebEngage with Ankit Utreja in 2011. In less than a year, it featured in Mashable’s ‘Top 10 Emerging Startups from India’.

“By using solutions that collate user data from various sources, integrate it, provide actionable insights, and orchestrate omnichannel campaigns, forward-thinking marketers are engaging existing customers through personalized services and retaining them in greater numbers,” Avlesh added. “For such proponents of novel MarTech (a portmanteau of marketing and technology), more data is not a problem; it is a gift that keeps on giving.”

Fuelled by a strong demographic dividend, discerning customer base, and above-global-average internet penetration, the Middle East has assumed a leading position in the digital transformation of businesses. This is particularly pronounced in innovation-driven economies like the UAE, where increasing competition has also led to the uptake of marketing automation, hyper-personalization, and insight-led omnichannel campaigns.

People in-the-know like Avlesh Singh believe that Retention Marketing resonates with every customer-facing sector, but some have greater user-generated interest and feasibility. “The public sector will be more inclined to leverage full-stack Retention Operating System and provide personalized services to citizens as per individual, unique needs,” Avlesh continued, “Banking and monetary institutions, too, are geared towards optimizing customer journeys and retaining them by virtue of personalized communications around investment and financial services. A MarTech stack will also automate tedious, manual operations that hinder efficient service delivery. And with post-pandemic recovery in full swing in the Middle East, previously disrupted sectors like retail and tourism will revisit their customer engagement strategies, this time with new tools of the trade.”

A testament to Avlesh’s words is a study that reveals two in three Middle East consumers have become more digital. So, businesses are now more compelled to create a tech-enabled culture rather than just be tech-supported. As a result, AI-based personalization is becoming commonplace, from livestream-video commerce to WhatsApp marketing. But, in the words of Avlesh, while technologies like AI and ML, and platforms like WhatsApp, promise a pipeline of possibilities for customer engagement and retention, the success will hinge on a brand’s individual strengths and its SaaS provider’s ability to unlock maximum value from a given dataset.

Earlier this year, eXtra, Saudi Arabia’s fastest-growing retail brand, announced a 33% increase in purchases through localized user engagement campaigns. Egypt’s Gourmet, another retailer, announced) a 20% increase in customer retention. Both the brands had adopted WebEngage’s full-stack Retention Operating System, which harnesses data to enable hyper-personalized marketing. The results have also powered WebEngage’s growth, profitability, and greenfield expansion in recent months.

“We recently ventured into South Africa and Nigeria, scaling our regional presence beyond our existing operations in the UAE, KSA, Egypt, Kuwait, and Qatar. We did so because of our increasing outreach, underpinned by the quantifiable value we were able to unlock for our existing clients like eXtra and Gourmet. We also have government projects in Saudi and UAE — which reflects the sector-wide necessity and relevance of Retention Marketing,” Avlesh Singh explained.

Avlesh was also quick to add that digitalization of marketing is an ongoing process, with many CMOs and CXOs still operating with obsolete technologies and associated practices. Soon, with increasing digital consumerism, brands that do not empower their marketing teams with novel technologies run the risk of customer disengagement and churn. “Marketing automation is rewriting the rules of retention. So, if you are a brand that believes in retention-led growth, technology adoption should be your first order of business,” Avlesh Singh said in closing.