Mumbai: KwikChat, a WhatsApp commerce solution by eCommerce enabler GoKwik, aims to increase its revenue fourfold as it seeks to evolve into a multi-channel engagement platform powering over 5000 brands and 3 billion conversations in the next six months.
GoKwik launched KwikChat in June of last year following the acquisition of the WhatsApp commerce platform Tellephant. The solution has since enabled brands to engage with target shoppers, keeping them interested throughout their shopping journey. It has ensured higher ROI on marketing campaigns, better-abandoned checkout recoveries, greater repeat purchases, and prompt customer support.
Within a year of inception, KwikChat has helped brands maximize their ROI on WhatsApp campaigns by 20X, increased engagement across acquisition, retention, and support communications by 3X, and continued to enable growth for these brands.
KwikChat started as a WhatsApp solution but has expanded its offerings to Instagram, Facebook, SMS, and Email. Brands have also experienced an increase in orders by 3X owing to KwikChat-led messaging channels.
“This past year has been transformative for KwikChat. We acquired Tellephant with a strategic vision of bridging the gap from conversations to conversions for eCommerce brands. This has shown immense value and we’ve now geared up to take it to the next level. As not just acquiring but consistently engaging and retaining shoppers grows in importance, KwikChat is heading towards becoming the go-to engagement platform across all channels. With our DNA committed to solving everything eCommerce, we are excited about the vision we have for the next phase of KwikChat’s growth“ said GoKwik co-founder and CEO Chirag Taneja
The merchant base for the KwikChat product has expanded by 20X, coupled with a surge in monthly messaging to 100 million, a whopping 33X jump from last year. Notable brands like Portronics, Pilgrim, Dot N Key, Mosaic Wellness, Foxtale etc are using the solution.
KwikChat, hit the PMF soon after its launch as it was created specifically for eCommerce brands, complementing GoKwik’s multi-product offering (KwikCheckout, their checkout solution for maximising conversions and Smart COD Suite, the solution to reduce returns before delivery using network data intelligence) tailor-made for solving key eCommerce pain points.
It has made a significant mark across the shopping funnel through its customised flows thereby reducing CAC, engaging shoppers, converting, and retaining them.
Moreover, KwikChat has also automated 80 per cent of the support queries, thereby increasing shopper satisfaction with prompt responses and reducing agent handling costs. It has further helped many brands increase their abandoned checkout recoveries by up to 20 per cent, the best in the industry.
"We have been one of the early adopters of KwikChat, and our experience with the product has been phenomenal. We witnessed a rise in conversions by up to 2.5X and a 12 per cent rise in abandoned checkout recoveries owing to some of KwikChat’s remarkable features. We are excited to see the evolution of this product and how it enables a personalised experience for shoppers, one they prefer,” said Foxtale founder Romita Mazumdar
One in every three eCommerce shoppers shop from the GoKwik network of brands. The enabler expects to double the revenue in this fiscal year.
