Strengthening Conversational Commerce Bikayi Plans To Scale Bik.ai
"Our product vision is to strengthen commerce that happens on conversations especially on social media direct messages enabling brands to deliver higher ROIs," Sonakshi Nathani, Co-founder and CEO of BIK shared while speaking on navigating through current trends
The B2C ecommerce industry is rapidly changing. Over the last two years, the traditional Indian retail sector has been disrupted for the good. This has driven the growth of ecommerce transactions in the country. If there is one thing that pandemic-imposed social distancing has shown is that humans need to value social interaction.
The journey of a facilitator brand, Bikayi started years ago when the founders thought to make a pioneer product as part of marketing and engagement solutions that understand the domain and ecommerce businesses. The brand turned out to be a serious adaptation of a slang i.e.'Aaj bikri nahi hui' and named it Bikayi.
BIK has created a marketing platform as they believe that it shouldn't be a hassle for the brand to go online. From designing, store setup, search engine optimisation and many different things can be found on a single platform.
Roadblocks On The Way
"As rewarding as it is, building your own business is not without its challenges and obstacles. As a beginner, you will face certain circumstances which will prepare you for business development at a larger level," states. One must take them head on, solve one problem at a time and come out stronger from the other end," she added.
Bikayi's highlighted multiple complex aspects such as funding, time management, good team structure, business ideas, matching ever-evolving trends, marketing, and competition.
"The path of entrepreneurship is a long and arduous process that is filled with moments of success and failure, and feelings of self-doubt and personal satisfaction. One of the biggest learnings for me, so far, has been to trust your gut instinct," shared
Next Big Plans
Our growth plan revolves around scaling up bik.ai, our scale-up majorly would involve geographies such as the US, Australia and New Zealand and UK apart from India. We will continue to invest heavily in Research and Development. Evolving BIK towards our vision of making brands complete their journey on conversations. From a team point of view, we believe in quality over quantity, and continue to keep our high-quality team lean to deliver quality products.
"BIK is on a mission to make brands successful. At the core, our differentiation is from our approach to enable end-to-end ecommerce on social channels. Today BIK is creating a new category, where mid to large-sized brands can drive their conversations into revenues directly, without taking them on websites anymore," claims.
Following these trends to empower online businesses, conversational commerce was born. Companies have come to realise that it’s not products or prices that have the biggest impact on conversion but, instead, it’s the positive customer experience a brand delivers.
Online businesses are now using artificial intelligence, social media tools and personalised customer service strategies to improve the online shopping experience through all channels. Now that brands have access to an abundance of user data, they need to find ways to leverage this and provide tailored recommendations to their customers and help them avoid the paradox of too many choices.
The Way Ahead
Over 70 per cent of Indian users prefer buying from businesses with whom buyers can interact over chat. Bik aims to leverage the social media capabilities of powering ecommerce from perspective and power superior return on investment (ROI) for brands vs. traditional channels such as SMS/email marketing or traditional digital advertisements.
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