Interview with Udayan Bose, Founder and CEO at NetElixir
Tell us about your role at the company and how you started here.
I founded the company in 2004 to help retailers win new online shoppers through data-driven Search Marketing.
What opportunities and challenges did you and/or the company identify at the start and have things worked out as planned?
We have been focusing on three trends. The first is Voice search, which is changing search from being keyword led to context led. The second is the application of AI by Google and other ad platforms and marketplaces, which is leading to stronger results and less control for search marketers. The third is of course Amazon. We are finding that Amazon ads are dominating the product searches, and the bottom of the funnel, monetizable search queries.
As a Retail Search Marketing company, how does NetElixir work with retailers to reach consumers online?
We collaborate with retailers and use our LXRInsights platform to better understand their high-value customer persona and align our search marketing programs around the 4Ps of their Marketing plan so as to be able to hyper-target and acquire these high-value customers.
What are the top ways that retailers can improve their online and mobile strategies?
My recommendations for retailers to improve online and mobile strategies are as follows:
- Gain a unified view of the shopper’s journey across mobile and desktop.
- Optimize organic listings for Voice search.
- Use Amazon product search as not just a customer acquisition channel but also a research channel.
What are your predictions for the e-commerce industry? How do you see consumer shopping evolving online and on mobile?
At NetElixir, we have been tracking the state of e-commerce for over 10 years. Our forecast for a holiday season predicted double-digit growth and I see the same happening in future. I also think that the social equity of a brand will be even more important as millennial shoppers choose brands with a social conscience that stand for a cause with which shoppers are able to relate.
The shopping experience will gain greater importance. Mobile and Voice will lead to the emergence of strong local retail brands. I also think that new brands will emerge that market and sell only on Amazon.
What was the most impactful lesson you learned in your journey? How do you plan to implement the lesson in the coming years?
The most impactful lesson that we learned was when Google rolled out their AI-based modules like smart bidding. The performance impact for many clients where we used smart bidding was substantial. We believe the impact of AI will continue to grow and have realigned our operating processes and team structure so that we are able to help our clients benefit from these modules.
Which leaders in the industry do you closely work with? How do they help you stay close to the business actions?
We work with forward-thinking marketers like Lenovo, who are constantly testing unique, limited duration, country-specific marketing programs to gain a better understanding of their customers and engage with them more effectively. Since we manage their Search Marketing programs in North and South America and Europe, we are able to be an active part of their plan.
One advice to all the CMOs and leaders in your community.
Intensify your Marketing efforts to win and retain high-value customers and ensure that your brand stays relevant for the newer generation of shoppers. They (probably) drive 80%+ of your total website’s sales.
This Interview with Udayan Bose is a republished version of the original article dated January 23 2019.
Udayan founded NetElixir with a vision to provide online marketers worldwide with a paid search campaign optimization solution capable of delivering magical performance.
Prior to starting NetElixir, Udayan was Director of Business Development for PartyGaming, the world’s largest online gaming company. In this role he was responsible for building a new business unit from scratch, PartyBingo that went on to become a major revenue generator for the company. Udayan regularly lectures the MBA classes at the Johnson Graduate School of Management, Cornell University; Zicklin School of Business, Baruch, NY and the Indian School of Business, Hyderabad.
He has been featured in The New York Times, Forbes and Time magazines. Udayan holds a Bachelor’s Degree in Chemical Engineering from the Indian Institute of Technology, Delhi and an M.B.A. from Mumbai University, India.
Founded in 2004 by Udayan Bose, our vision is to touch millions of businesses around the world and aid them in dominating the search bar. The NetElixir team consists of a multitude of search marketing engineers, data scientists, technologists, and global operations managers, all of whom are constantly ideating, innovating, and implementing unique practices that drive towards our vision of empowering search advertisers.
With offices in the US, UK, and India, NetElixir works around the clock, persistently gathering, evaluating, computing, and formulating raw data and turning it into actionable insights for our customers. We work consistently to develop new technology that will to improve and facilitate digital marketing efforts across the globe.