Savage Beta Corner: A Talk with Rares Banescu of Retargeting
- by Saida Ayupova
We continue to introduce our readers to the Savage Beta participants leading up to the 2017 Savage Marketing conference in Amsterdam. We caught up with Rares Banescu, CEO of Retargeting.
S: How did Retargeting come to be? What market need were you aiming to address?
RB: Retargeting appeared naturally as a need, because both shareholders at that time were involved in several e-commerce business leaders on their niche.
The market need was for a tool that automates and personalizes the communication with users in real time, based on their actions. Our software learns the behavior of the users and then adapts the communication channels based on this behavior.
S: What has been the evolution of your consumer over the last 5 years? What are your predictions for the next 5?
RB: Usually our customers are e-commerce websites that understand the value of big data and need to optimize the conversion rate based on this data.
In the last 5 years, e-commerce has grown to rival traditional shopping in many ways. The consumer's experience was shifting into using mobile devices and the term online shopping was emphasized by the new term of social shopping.
In the next 5 years, the e-shops will be rather shaped by new behaviors, needs and demands of shoppers.
S: There is much attention paid these days to the notion of ‘micro moments’ on a consumer’s journey. What is your advise to marketers who want to make identification and utilisation of micro moments a part of their strategy? What are the things to look for and watch out for?
RB: There are four types of 'micro moments' that marketers have to pay attention to. In short, there are: to know, to do, to go and to buy moments. The consumers want to find information quickly and accurately, in order for them to make an action.
Website experiences must be engaging and intuitive providing consumers all the details they need to make an informed acquisition.
But 'micro moments' often means that the visitor is only looking for a piece of information. A tool like ours, that interacts with the visitors and offers a new channel for communication, is the best way to convert a visitor into a client.
S: Your product is based on two concepts: identifying the right data and triggering a personalised action based on this data. Many marketers still struggle with making their marketing data-driven. Why? How can they resolve the issue?
RB: Personalisation is already in use, but that doesn't mean the marketers know how to deliver the content which resonates more with the visitors. They need to determine which content to deliver by e-mail, SMS, push notifications or on-site. The research on this subject among marketers states that only 5-7% agree that their current data architecture can be used for personalisation.
By using a proprietary algorithm, Retargeting eases the way for the marketers, being able to track each visitor and to begin the profiling process, completing the process with personalised and automated communication to increase the conversion value and the sales.
S: What have been your biggest achievements in the last couple of years as a company?
RB: Being a Romanian start-up, each year came with big achievements such as: the first 100 local clients, first European clients, opening an USA headquarter due to our expansion in North & South America, more than 1,100 clients (from 30 countries on 5 continents).
But all these achievements were made with the help of our enthusiastic team. We were 3 people in 2013 and nowadays we are 25, including a development team and colleagues from Bulgaria and Poland, dedicated to those markets.
S: What are you looking forward to the most at Savage Marketing 2017?
RB: Retargeting is a marketing automation tool and Savage Marketing 2017 gathers marketers and companies interested in digital marketing, data-driven marketing, mobile marketing or customer experience. We want to have the chance to present our application directly to marketers and decision makers around the globe in order for them to better understand their visitors journey, profile and call to action strategies.