Ecommerce is growing, and business owners need to adapt and move to stay ahead of the curve. Kaddra has created a solution that helps them do that.
We sat down with the two co-founders of Kaddra, Quentin and Will. We talked about the ideas behind the company and how the platform works.
What is Kaddra?
Quentin – We are an automated marketing solution for eCommerce. We provide small and large retailers with the ability of retargeting their visitors before and after they actually make a purchase.
We have a very unique model because we combine behavioral data with a device and that allows us to understand at the touch points why people are dropping out of a purchase and then how to retarget them. So you would be able to do sales with people that would have dropped otherwise.
“Kaddra is an automated marketing solution for eCommerce.”
Where did the idea for Kaddra come from?
Quentin – We were in the luxury space (with clients) and Will and I decided to create a solution that would allow us to retarget customers across different markets, different countries, and to try and be as personal and as relevant as possible.
We then realised that the gap was very real for a lot of other retailers. They started to ask us if we could provide a solution for them as well. We then decided to white label our solution and start to sell it to other retailers.
And this is when Kaddra really took off. We really focused the solution into the retargeting and we are now serving over 100 companies into more than 20 different sectors.
What big problem is ecommerce facing in 2022?
Quentin – We know now, 7 out of 10 people are dropping before they even make an ecommerce purchase. And so if we imagine a solution that can actually collect that data and assign it to a device, then you will understand the touch points of why people are dropping, when they are dropping, what’s the reason they dropped, and what are the solutions for you to retarget them.
Will – Retailers have faced a number of challenges over the last few years. With the pandemic, a lot of retailers are being forced online. What this has created is increased demand for acquisition.
But the traditional acquisition costs have skyrocketed in the last few years because everyone is now competing for the same audience.
So you’ve got increased acquisition costs, you’re bringing them in, but if they drop, it’s just wasted money. Kaddra is really laser focused on trying to convert. And then for the existing customers, Kaddra works by turning them into repeat customers.
So, how does it work?
Will – Kaddra provides retailers with a mobile storefront, a native mobile app. It also provides an app designer for the merchants and the retailers to be able to design their app and put it together without any development costs. So it’s a no code solution for the merchants and retailers.
They can also set up campaigns, one of two types based on behavioral actions taken by a customer. This is what makes it relevant, because it’s in response to something the customer has done at the right, natural moment.
Where is Kaddra on its journey right now?
Quentin – Where we are now is we’re going to take push notification to the next level. Kaddra has achieved amazing results already from the solution that we are providing to hundreds of retailers over 20 sectors.
But we are now looking at our Series A in order to fund an even deeper step into the technology. This will involve bringing in machine learning AI capabilities to both understand and use new devices, with clear rationales for using certain devices at certain times of the day.
And then we’ll probably develop more devices.
Will – Wearables, smart TVs, car operating systems, voice assistants.
How do your competitors compare?
Will – Our closest competitors have tackled the problem differently.
Their strategy is really to own the storefront and provide the best possible storefront and then use partners to fill in the gaps. What this means from a retailer point of view is that firstly, they have to have multiple systems, up to five different systems, in order to do what Kaddra can do. This adds complexity and cost.
Quentin – So can a normal retailer do that or do they need someone to do it for them?
Will – It depends on the capability, because it gets extremely complicated because you have a number of different solutions.
There’s what’s called a CDP, which is a customer data platform, and then you have the actual marketing tool.
So you need to have someone who can operate the CDP that feeds the marketing engine to then send data to the device. And wherever there are these disconnections, that means time is going to be a problem.
So Kaddra’s approach is to provide a single solution, all in one, where merchants of any size – it can be a one person retailer or could be a giant retailer with millions of customers – can use a single solution to do what they need to do.
In a competitive industry, anything that saves time and money is welcome. Kaddra reduces the time required to integrate solutions. Businesses can retarget customers by doing it ‘all-in-one’.
The fact that the platform contains one solution means it is more cost-effective too.
Ecommerce companies need to watch costs, save time and engage customers. Kaddra does all that, and is adding even more functionality in the months ahead.