Vikram Aditya, the founder of Crunch, helps businesses quickly prepare and use their data to answer important questions. His team creates custom AI tools that make data easy to understand and use, saving analysts lots of time and helping business leaders make better decisions. He recently collaborated with Saurabh Agrawal, and, in the recent podcast between Vikram Aditya & Saurabh Agrawal in an episode of “Just Crunch It,” Saurabh Agrawal, the CEO of DAiOM, spokeabout The New Era of Digital Marketing: AI, Data, and ROI, leading to an insightful discussion.
Saurabh Agrawal, the CEO of DAiOM, was the Senior Vice President at Lenskart and has also been a Foundation Analytics Champion. With over 20 years of experience, he talked about how AI is changing digital marketing, the need to measure ROI, and what the future holds for marketing strategies in a data-driven world.
Bringing over a score of expertise in data analytics and digital marketing to the table, Saurabh Agrawal started his journey at Fidelity Investments and leading teams at Lenskart. Using data to help businesses grow was always his forte.
Now, at DAiOM, he creates new strategies that help brands succeed in omnichannel marketing and get great returns on their investment.
In the conversation, Saurabh talked about how marketing is changing. He stressed how important data and artificial intelligence (AI) are becoming. He explained how marketing is moving from traditional methods to digital channels and talked about the new challenges and chances this brings.
He deep dived about the evolution of attribution models, the impact of AI on content creation and SEO, and the current challenges and opportunities for marketers which you can see in the detailed video. He also shared the key real life example of FinalRound that helped everyone understand the practical use of AI in daily life.
Real-Life Example: Enhancing Job Interview Preparation in FinalRound With AI
Saurabh Agrawal provided a real-life example of FinalRound where integrating AI with specific contexts can enhance traditional processes (like job interview preparation), even if the technology itself isn’t the latest. He also highlighted that AI can be practical and beneficial in everyday scenarios, providing real value to users by addressing their needs effectively. Check out the example to understand better:
FinalRound (finala.com) helps people prepare for job interviews where you need to upload the job description and your resume and may also upload information about the company or the interviewer. The system listens to the interview questions via a microphone and then provides you with suggested answers through a teleprompter.
Use Case: Initially, there was concern about the ethical use of such technology, with some people perceiving it as cheating. However, the founder revealed that a significant portion of users actually use it to practise and prepare for interviews, which helps them improve their performance.
Insights
- AI Integration: They are using tools like ChatGPT (likely a version like GPT-3.5) for generating responses. Although this isn’t cutting-edge technology, the application of AI in this context is innovative.
- Contextual Use: The system not only uses raw AI capabilities but also integrates contextual information (job description, resume) to enhance its utility.
- Outcome: The main benefit is improved preparation for interviews, helping candidates become more confident and ready for real-life interactions.
Key To Saurabh’s Success
- Consulting Over Tools: Instead of offering just another tool, Saurabh provides consulting services. He helps clients use their existing tools more effectively, similar to how a yoga teacher guides you on improving your practice, rather than just giving you a new mat.
- Deep Industry Focus: Rather than spreading himself thin across many clients, he chooses to specialize in specific sectors. For example, he has worked deeply with clients in jewelry and D2C (Direct-to-Consumer) sectors and is now focusing on healthcare. This in-depth approach allows him to understand industry-specific challenges and offer tailored solutions.
- Solve Real Problems: By concentrating on one sector at a time, Saurabh addresses specific issues within that industry. For instance, in healthcare, he focuses on organic growth and reputation management due to restrictions on paid marketing, helping clients improve their SEO and attract the right patients.
- Work with Fewer Clients: Saurabh prefers working with a smaller number of clients in each sector to provide more personalized and effective solutions. This approach helps build deeper relationships and ensures that he can offer valuable insights and strategies.
- Encourage Experimentation: Smaller and mid-sized companies are often more agile and open to experimenting with new tools. Saurabh suggests that companies with fewer decision-making layers can quickly test and implement new solutions, which can drive efficiency and growth.
- Manage Expectations: Saurabh acknowledges that many AI tools overpromise and underdeliver. By setting realistic expectations and focusing on practical results, he helps clients see real value rather than being swayed by flashy marketing.
Top 3 Takeaways from the Podcast
According to Saurabh Agrawal, the first step to boost your marketing is to set up an easy way to measure how well it’s working.
Collecting and using your own customer information, like emails and phone numbers, instead of depending only on third-party sites can be helpful. One can keep learning and improving their skills, especially in solving problems and thinking clearly.
No matter how technology changes, being good at figuring out problems and explaining solutions will always be important.
Watch the full video here!