Although social networks have become the platforms for billions of people around the world to access information and communicate, email as a symbol of personal identity is still a major daily communication method. Thus, email plays a pivotal role in a company’s e-marketing strategy.
Radica Systems Limited, an incubation company of Hong Kong Science and Technology Parks Corporation (HKSTP), was founded in 2000 by three graduates of the Hong Kong University of Science and Technology. The company has developed personalised eMarketing and eCRM software. Radica is now a major marketing solution provider in Asia. Headquartered in Hong Kong, the company has a total of 20 employees in Hong Kong, and 70-80 in total including those in the branch offices in Guangzhou and Shanghai.
Accurate dispatch of marketing emails
According to Radica’s data, the company sends more than 500 million marketing emails each year to consumers who agree to receive such emails. Many well-known brands and organisations, including LVMH, Hong Kong Trade Development Council, PCCW, Ctrip, and Li-Ning, are Radica’s customers.
Whether an email is correctly “personalised” makes a difference whether an email will end up in the spam folder or considered useful product information. Radica's system allows its clients to carry out precise email marketing campaigns, including classifying recipients in databases, defining inactive recipients, sending emails that don't fall into spam folders, following up triggered emails, tracking and real-time evaluation of the effectiveness of the campaign. What’s more, Radica can also provide tailor-made promotion strategy for its clients. For example, according to pre-defined business goals, the system can filter targeted recipients in the customer’s database using personal behaviour and other criteria, and then dispatch the targeted marketing content to maximise the effectiveness of an email campaign.
Big data optimises marketing campaign effectiveness
Over the years, Radica has fine-tuned its email marketing technology and solutions to be increasingly comprehensive and accurate. But science and technology always offer opportunities for improvement, and big data is an opportunity for email marketing to evolve. The company's latest product, RiMANGGIS, can quickly analyse various customer-related features, distribution and trends with big data, and then filter out targeted customers, and distribute marketing emails in an automated, multichannel and fast manner. The effect is more obvious and precise.
Francis Kwok, Radica's Founder and Chief Product Designer, points out that in the marketing field, no one would ignore big data. If people could anticipate the relevant trends and use them properly, they could make a big difference in the result.
Two major trends facilitate big data analysis
There are two trends in big data, according to Francis. More and more enterprises are willing to open up non-private data collected in their business. Through application programming interface (API), enterprises and organisations can combine their own internal and external data to form a large and diversified database for analysis. This trend allows the enterprises to identify customers’ characteristics and relevancy, so as to create brand new marketing activities.
Another big data trend is the introduction of cloud-based artificial intelligence platforms, such as Google Auto ML, allowing enterprises to have low-cost but highly effective tools to extract important data that cannot be processed in big data. For example, artificial intelligence can translate and analyse a seemingly happy but actually dissatisfied customer’s message, and the company can follow up base on the analysis.
Francis says that Radica has launched a product called Data Catalog to capture the business opportunities arising from the above trends. The product has a crowd-based function that can integrate different sources and structures of data for various analyses. It can also identify target content in big data as references for various business decisions.
Appreciation of Science Park’s cohesive ecosystem
As a senior member of the Science Park, Francis is proud that the park has created a cohesive ecosystem for start-up companies like Radica to thrive. Whether it is to open up new markets, find talent or raise funds, start-ups can find enthusiastic support here. Besides, various activities and exhibitions organised or co-organised by the park help the company increase its brand awareness and attract customers and business partners.
In e-marketing, Radica is trying to apply its cumulative experience to more areas. The company is developing PopSquare, an O2O AI-enabled pop-up marketplace, which can monitor in real-time consumer preferences in a pop-up store and provide instant online purchase service. Francis is interested in how big data can help people discover and solve various social problems, and making it the company's major R&D direction for the future. It is clear that Radica’s technology and R&D results will play an important role in the era of big data.