Titan Company Limited, widely recognized as India’s leading watchmaker, has announced that it has partnered with IBM to further its sales and engagement across online as well as online channels. The company now plans to leverage the Watson customer engagement and cloud-based solutions to not only pay utmost attention to its loyal 11-billion user base but also court new customers in the process.
Jumping ship with IBM, Titan now plans to rejuvenate its 1500+ brick and mortar stores across the country and digitize them to better serve its frequenting customers. Also, the watchmaker is looking to fend off competition from other online e-tailers and increase their own online presence in collaboration with IBM. It aims to increase sales from frequent buyers, who make 1.5 purchases annually, into regular buyers who purchase three times as many products in a year — be it through the browser, mobile device or a Titan Store.
Commenting on their ambitions, Kuruvilla Markose, Chief Digital Officer, Titan Company Limited, said,
The continued growth of e-commerce presents a tremendous opportunity for Titan to better meet the unique needs of our customers while tapping into vital new revenues for our business. IBM will play a significant role in ensuring our success.
Working with IBM, we will be able to personalize all customer interactions both online and in the store, introducing shoppers to new relevant products that not only evoke the design and flare that is indicative of our products, but reflect their unique, personal styles.
Titan is currently leveraging the tech giant’s Watson Customer Engagement solutions to build the “backbone” of their online business. The watchmaker is aiming to analyze and take into account the customer’s preferences, past purchases, and real-time behavior on the platform to further tailor their online campaigns. Titan is gunning to employ such a system that’ll enable them to tailor campaigns as per the unique needs of the customers on the fly.
Talking about this partnership, Harriet Green, GM of IBM Watson Customer Engagement said,
Through IBM Watson Customer Engagement offerings, IBM is not only providing Titan capabilities to engage their customers, we are also helping them on their path to cognitive – where Titan can introduce additional Watson-powered solutions to help them gain momentum for years to come.
The official press release further sheds light on this system through an example, which states that Titan can now identify a customer’s watch preferences based on past purchases and present discount deals on similar designs for them. This system will also enable them to figure out the amount, as well as the target site — email, message, advertisement — for discount delivery. It aims to grab attention & drive sales through its website and increase footfall at its 1,500 retail stores and 10,000 multi-brand outlets.
As per the recent India Consumer Market report, India’s robust economic growth and increasing household incomes are expected to increase consumer spending to US$ 3.6 trillion by 2020. And Titan believes that IBM’s seamless cognitive technologies can enable it to unlock new potentials in the coming years.