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No matter how big an organization is, when it comes to marketing, there's no dearth of mundane and repetitive tasks, such as email marketing, social media posting and even campaigns. Marketing automation platforms remove the hassle from marketing execution and allows businesses to streamline, automate, evaluate tasks and workflows – not just for the sake of efficiency, but to provide a more personalized experience to the consumers, eventually leading to higher conversions and business growth. However, these tools have become complex over time, difficult to operate and messy to integrate and customize.
Factoreal is a Bengaluru based startup offering an omni-channel engagement automation platform designed from the ground up to help marketers execute their job effortlessly. Taking a clean slate approach powered by the fuel of simplicity, it enables businesses to define end to end customer journeys in minutes, delivering hyper-personalized campaigns and capturing those micro-moments of engagement effectively.
Factoreal - Company Highlights
| Startup Name | Factoreal |
|---|---|
| Headquarter | Bengaluru, India |
| Sector | Software as a Service (SaaS) |
| Founder | Aditya Dhruva |
| Founded | 2019 |
| Parent Organization | Comviva Technologies USA Inc. |
| Website | factoreal.com |
| Contact | letschat@factoreal.com, marketing@factoreal.com |
Factoreal - About and How it Works
Factoreal - Target Market Size
Factoreal - Founders and Team
Factoreal - Parent Company (Comviva Technologies USA Inc.)
Factoreal - How it Started?
Factoreal - Products/Services
Factoreal - Name, Tagline and Logo
Factoreal - Business Model and Revenue Model
Factoreal - Funding and Investors
Factoreal - User Acquisition and Growth
Factoreal - Competitors
Factoreal - Advisors and Mentors
Factoreal - Future Plans
Factoreal - Founder's Advice
Factoreal - FAQs
StartupTalky
Factoreal - About and How it Works
Factoreal is a startup funded by Comviva Technologies (part of the Mahindra group), looking to disrupt the Omni-Channel Customer Engagement industry. It is a tool designed for marketers. The tool is Simple, Intelligent, and Effective.
The startup aims to make customer journey automation SIMPLE and AFFORDABLE for all businesses. They strongly believe that simplicity is the essence of universality.
The team started with only one guiding light, “To build the most trusted simplest platform”. Simplicity still remains the most important guiding principle for every decision they make. Whether it’s deciding the product roadmap or hiring – simplicity is always at the heart of everything they do.
Here are the top 5 challenges that customer engagement automation can help a business overcome:
- Unengaged customer
- Low lead conversion
- Marketing inefficiencies
- Lower than expected Revenue growth
- High TCO
Factoreal - Target Market Size
The marketing automation market size is growing at double digit CAGR and expected to be a USD 25 billion industry by 2024. The increasing need for automating repetitive marketing processes, retention of users for business growth, increasing demand for personalized marketing, and better predictive lead scoring are some of the major factors expected to drive the growth of this market.
Marketing automation software solutions help enterprises to manage the entire lifecycle of marketing channels effectively across various digital medium which is one of the major factor for adoption of these software by enterprise globally.
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Factoreal - Founders and Team
Aditya Dhruva is the Founder & CEO of Factoreal.
Aditya Dhruva is the CEO of Factoreal. He is a thought leader with a stellar track record of business innovation, strategy, and running profitable businesses. He has done his entrepreneurship education from MIT and is a graduate in Electronics and Communications. He has authored 5 patents and in his past, he has held various leadership positions at Comviva, Cisco and Nokia.
“There are two schools of thought in the startup world – One prioritizes time-to-market. Get in there as early as you can, get the bean counter flowing early, pivot and iterate to find a reasonably strong play.
The other evangelises getting the right product-market fit. In highly innovative markets with strong competition, getting the right differentiation and core value proposition is extremely important. In Factoreal we are favouring the second approach” - Aditya Dhruva, founder and CEO of Factoreal.
Factoreal - Parent Company (Comviva Technologies USA Inc.)
Comviva is one of the leaders of mobility solutions providers and cater to over two billion platform users globally. The technology products offered enables customers to increase revenue, operate profitably and make a drastic impact. It is a value-added services provider for mobile telephone operators. Comviva has customers in over 90 countries, In 2012, Tech Mahindra bought a 51% stake in Comviva.
Factoreal - How it Started?
Comviva Technologies has been a leader in Mobility Solutions for nearly 2 decades. Predominantly working with Telecom customers, the portfolio spans across Mobile Financial products, Messaging and infrastructure, customer value management and lifestyle solutions.
As part of the growth strategy for the group, they wanted to leverage their expertise in building highly scalable carrier grade solutions and bring it to an internet scale offering directly to the enterprises in a SaaS model. That was when Factoreal was born.
StartupTalky
Factoreal - Products/Services
Factoreal is an omnichannel customer engagement automation platform, delivering best-in-class journey automation, channel coverage, and budget control. The product capabilities include:
Engagement automation
Let’s you automate the customer engagement lifecycle, you can ensure seamless, engaging, customer conversations everytime.
- Simplest Workflow modeling and ready-to-use journey templates
- Social ads & shares
- E-mail automation
- Real-time triggers
Omni Channel
Let’s you orchestrate and automate customer experiences across multiple touchpoints.
- Traditional – SMS and Email
- Social - Facebook, Instagram, Twitter, Snapchat
- Mobile / OTT - Mobile App, Chatbots and RCS
Planning & Budgeting
Let’s you use a credit store (FactCoins) to control all your marketing spends based on real-time needs.
- ROI Analysis
- Budget management
Ecommerce Integrations
With their pre-integration with ecommerce platforms like Shopify, WooCommerce, you have the ability to run all your conversion and acquisition campaigns right out of Factoreal – down to each product and customer.
- Real-time actionable insights into the ecommerce journeys
- Predictive analytics
- Recommendations
Factoreal - Name, Tagline and Logo
Factorial (!) is the mathematical symbol for a multiplicative expression. The core value of the Factoreal Brand is to provide a multiplying benefit in every aspect to the user; experience, value and simplicity
The placement of the logo in the wordmark has been kept in the exact centre. This adds a dimension to the narrative of the brand story, implying that the user is receiving relevant data and facts in real time. The company's product acts as a catalyst by highlighting the vantage points of data. The placement of the monogram also enhances the visual recall of the brand.
Bringing together every aspect, the monogram is a representation of marketing automation. The beauty of the monogram lies in the fact that it is also the mathematical representation of factorial itself.
It represents churning of a large amount of consumer data on an omnichannel platform to generate segmented, meaningful pieces of information, which helps you derive accurate marketing insights – all through a simple automated tool.
StartupTalky
Factoreal - Business Model and Revenue Model
Factoreal's pricing is subscription based and they have a Pay-As-You-Grow model allowing customers to increase their spend based on their business growth. The startup's unique credit store concept (called FactCoins) enables customers to purchase pre-paid credits which can be used flexibly across campaigns, channels and ads.
The company care for their customers and given the current situation, they are going the extra mile in helping the small and medium businesses tide over the crisis with flexible plans.
StartupTalky
Factoreal - Funding and Investors
Factoreal is funded by Comviva Technologies (part of the Mahindra group)
Factoreal - User Acquisition and Growth
While the team don’t disclose their customer base, they have been lucky enough to on-board a handful of paying customers within a couple of months of bringing their MVP to the market. But the journey is long and it has just begun.
StartupTalky
Factoreal - Competitors
Competitors of Factoreal are Klaviyo, Adobe, Hubspot, Salesforce Marketing Cloud, and Autopilot hq to name the few.
Factoreal - Advisors and Mentors
Manoranjan Mohapatra (CEO of Comviva technologies), and Dan Knowlton (Ranked among the top 100 digital marketing influencers) are advising the team of Factoreal.
Factoreal - Future Plans
Factoreal has future plans of scaling the business, growing the team, and launching new capabilities that help their customers achieve their goals faster. They are focused on delivering high customer satisfaction.
StartupTalky
Factoreal - Founder's Advice
"Find a real customer problem to solve. You can definitely build a good business provided you’re constantly innovating on product, value and GTM. Any startup will go through it’s ups and downs – it’s important to try for the best but prepare for the worst. Be prudent in spends, save for a rainy day. Take care of your employees. And more importantly, hustle, hustle, hustle. There are no guarantees in life, but these will give you your best chance at success." - Aditya Dhruva, founder and CEO of Factoreal.
Factoreal - FAQs
What is Factoreal?
Factoreal is a Bengaluru based startup offering an omni-channel engagement automation platform to help marketers execute their job effortlessly.
Who is the Founder of Factoreal?
Aditya Dhruva is the Founder & CEO of Factoreal.
Who are the Top Competitors of Factoreal?
Competitors of Factoreal are Klaviyo, Adobe, Hubspot, Salesforce Marketing Cloud, and Autopilot hq.
What is the Revenue Model of Factoreal?
Factoreal's pricing is subscription based and they have a Pay-As-You-Grow model allowing customers to increase their spend based on their business growth. The startup's unique credit store concept (called FactCoins) enables customers to purchase pre-paid credits which can be used flexibly across campaigns, channels and ads.
Author: Rishabh Rathi
Source : https://startuptalky.com/factoreal-success-story/
Date : 2021-04-04T05:43:00.000Z