Brief Profile of Mr. Tusshar Agarwal
Tusshar Agarwal is the Founder of KYI Solutions, a leading bulk SMS Service Provider. He was born in Meerut, Completed his graduation from Delhi University & Post Graduation from IILM, Lodhi Road. In 2010, he entered the SMS Industry, by the name of KYI Solutions. Soon realized the POWER of SMS and 2021, they are making their presence felt in the Market with clients like Jaguar Land Rover, Policy Bazar, Radisson, Gold Gym and 13000 more.
Passionate in Marketing caught up with Mr. Tusshar Agarwal to discuss about ‘How KYI Solutions leveraging technologies like AI to revolutionize the future of SMS Marketing’
Tell us about your journey. What was your Eureka moment that led to the inception of KYI Solutions?
This is a KYI adventure story. And it starts with my definition for a “Eureka Marketing Moment.”
That happens when a consumer suddenly spots a jaw-dropping innovation in the marketplace—and it changes their mind. These moments are rare like finding a single needle in a thousand haystacks.
But a Eureka Marketing Moment (let’s call it an EMM) can instantly flip any consumer’s long-established buying behavior.
In Mid 2008 when Recession hit I came across a quote which was : “In a recession, dare to invest aggressively in marketing, innovation and customer quality.”—The Profit Impact of Market Strategies (PIMS).
Then the thought came where do we fit it in the pantheon of technologies we already use? Where does intelligence fit with human innovation? Can we harness it to support thinking?
So, I predict we’ll see texting become its own distribution channel where users can complete their entire purchase journey quickly via SMS, stored card details included.
The SMS marketing model’s simplicity also means it’s incredibly cost-efficient so the name KYI (Know Your Investment) was brought to life.
What are your business strategies to deal with the on-going pandemic?
As governments gradually remove pandemic-induced restrictions and businesses begin to reopen, there’s a sense that we might be on the verge of returning to “normal.”
That is unlikely. During the months of lockdown and self-isolation, we have been, in fact, writing a new future.
This has important implications for marketers trying to build lasting relationships with customers. Monitoring of data and trends in consumer behavior has always been important to planning.
Given the unprecedented nature of the pandemic and the profound changes it is causing, we believe that harnessing imagination may be just as critical. Marketers will need to think hard—and differently—about what the consumer in the next normal will think, feel, say, and do.
COVID-19 has forced us into a new mobile and contactless world, with a recent report finding that 56 percent of respondents use their mobile devices more than before the pandemic, and 38 percent of respondents are getting more news and alerts via text.
Additionally, 96 percent of consumers say phone calls can be disruptive, and 39 percent of consumers have over 100 unread emails in their inbox — which is pressuring marketers to find new ways to encourage shoppers to buy additional products or switch brands. As texting emerges from the pandemic as the primary form of communication, an effective SMS marketing strategy will be critical for all Businesses.
Elaborate on the present market scenario. What kind of business opportunities do you see in this segment?
The number of consumers who accepted to receive advertisement via SMS stood at 37.2 million and is projected to rise to 48.7 million. 61% of marketers increased their text marketing budgets in 2021.
Mobile Marketing is on a substantial growth trajectory and attributed to growth in demand for marketing automation software, increase in online shopping behavior, and availability of cloud-based solutions at a low price.
Moreover, Mobile marketing helps businesses to build and manage subscriber lists, send mass text campaigns, automate customer engagement along with the continuously growing demand for marketing automation software is boosting the growth of the SMS Marketing Market.
Could you shed some light on your tie-ups and partnerships so far? Are there any agreements that are in the pipeline?
Currently KYI has around 13000 clients across multiple industries. We at KYI do not believe in to get restricted with one industry or portfolio therefore we are always focused on adding new clients in our portfolio.
Some of the brands using our offerings:
- DLF – M3M – Lodha
- Meena Bazar
- Bansal Classes & Akash Institute
- BMW & Audi Dealership
- Marketing Agencies
- FMCG & Retails brands And Many More
There are few tie-ups which are in pipeline, just waiting for things to turn around well in favor.
What are your expansion plans for the coming 3-5 years?
Mobile marketing is getting recognized by most of the brands and MSME industry as fastest and most penetrating medium to influence decision making. Similarly, we find 20 Million small, medium owners are also part of unexplored market with a high potential to enhance their reach for their clients and creating a call to action path for them opens more doors to opportunity. We are looking forward to grow our revenue to 10x in coming 3 Years, considering the market scenario and forecast that we have in mind currently.
How AI is Revolutionizing the SMS Marketing Industry
The core objective of any and all technological advancement is to reduce human effort and increase quality. Artificial Intelligence may be considered a thing of the future, you’d be astonished at how much we actually rely on artificial intelligence in our day to day lives.
Consumer behaviour is changing and marketers need to take notice to stay ahead. According to research, 80% of consumers look to engage in communication with business today rather than just receive information from them. Most businesses now use text messaging for customer engagement and it is the most cost-effective channel and SMS will not be left behind when it comes to Artificial Intelligence.
The advent of the smartphone has really changed the way we live our lives. From keeping a close watch on our dietary intakes to helping us in scheduling on our routine work schedule. The mobile technology has really gone far ahead. And not just in our personal lives, it has also impacted businesses in a huge way. Changing how we communicate with one and other.
Various features are being used by businesses to grow and expand. Think of how bulk SMS has been used as a promotional and advertising tool – Artificial Intelligence is making this tool more effective, meaning advertising is becoming more interactive.
Features to look out for in the future:
- Smart Communication
- Cost Optimization
- Convenient Integration
