Netcore’s Smartech platform has powered online fashion platform Myntra’s email campaign performance by twice the average industry standards
Online fashion platform Myntra has powered its email marketing campaigns to drive customer engagement at scale using comprehensive analytics and a leading engagement ecosystem for a 60% increase in email campaigns performance.
The uplift Myntra achieved — incidentally, double that of industry standards — underscores how established brands can hit impressive growth figures by incorporating AI as part of their broader marketing strategy. It also drives home yet again that 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 bottomlines of online retailers since conversions are directly related to campaign performance.
Myntra achieved these results by partnering with global martech pioneer Netcore Solutions’ platform Smartech.
The challenge for Myntra
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. As we know, driving Primary Inbox delivery drastically enhances the chances of eventual conversions instead of getting lost in the daily clutter of other promotional email.
The Smartech solution
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 timesfor sending their emails, all aimed at maximising conversions through compelling calls to action
Brands that adopt AI and Machine Learning as part of their marketing strategy are far likelier to 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: Kalpit Jain, Group CEO – Netcore Solutions
Aashish Kumar, Senior Manager, CRM & Growth at Myntra, says, “Netcore’s Smartech has been critical to our customer retention strategy, and we have partnered with them for 4-plus 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, says, “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 are far likelier to 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 heights with Myntra in the years to come.”