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Home Lifestyle Malaysian customer data platform (CDP) solutions provider

Malaysian customer data platform (CDP) solutions provider

[Written in partnership with MaGIC, but the editorial team had full control over the content.]

FusionQB is a customer data platform (CDP) solutions provider launched in 2016 by a founding workforce manufactured from members who have been from NEXPlatform, a proptech solutions agency.

Past that although, every certainly one of them comes from a robust technical consulting background and have been in enterprise implementation, with a cumulative 18 years of expertise.

In that point, amongst among the ongoing issues they’ve recognized that retail companies right this moment face embody:

  • A siloed customer database, the place data is caught in just one system, so companies are unable to view customer profiles and their general buying journey;
  • Overloaded touchpoints, the place prospects are on completely different platforms, making customer advertising methods onerous to execute;
  • A disengaged expertise, whereby if there are not any bodily occasions or actions, a model’s customer engagement involves a halt;
  • The shortage of real-time data analytics, resulting in a gradual or delayed administration decision-making course of resulting from a scarcity of transparency within the enterprise.

CDP versus CRM

In the event you’re questioning what the distinction between a CDP and customer relationship administration (CRM) platform is, we did too.

And what we came upon was that, briefly, a CRM is a system that helps gross sales, whereas a CDP delivers a extra full (360-degree, if you’ll) view of the customer past the gross sales cycle.

The traditional observe for companies is to have a gross sales and advertising workforce that shops customer data in a CRM system, and after a sale is full, a customer’s profile now not will get up to date.

CDPs are in a position to eliminate this guide, inefficient course of by routinely and actively gathering customer data. 

A CDP’s capabilities / Picture Credit score: FusionQB

It then helps companies make sense of the data to provide you with efficient customer attain and engagement methods. 

The outcomes communicate for themselves

FusionQB will not be the one CDP provider in Malaysia—there are different corporations like Avanade Malaysia doing the identical.

Nonetheless, FusionQB’s co-founder Stephen Lim instructed Vulcan Put up that there are a number of variations between them reminiscent of how FusionQB serves completely different industries, is less expensive, has a shorter and quicker time-to-market, and extra.

Their goal market contains enterprises and companies with a big quantity of customer data. In the meanwhile, they’re serving shoppers like property builders, retailers, mall operators, producers, training suppliers, and can quickly be increasing into the healthcare and wellness trade.

“The worth of the customer data will likely be impactful with ecosystem gamers, as companies right this moment would wish to activate their data and increase it with different profiling data reminiscent of behavioural, geographical, internet value, cell utilization ones, and extra,” Stephen defined.

Dashboard examples of the answer / Picture Credit score: FusionQB

A few of their key shoppers embody massive names like Gamuda Land, Paradigm Mall, Pavilion, Sunway Property, KSK Group, and SkyWorld.

There are 2 key metrics that FusionQB tracks with regards to validating how efficient its CDP answer is: gross sales conversion and customer engagement charges.

Based mostly on present data, Stephen confidently instructed us that their shoppers have seen a 22% development in gross sales conversions inside four months after implementing FusionQB’s answer, whereas their customer engagement price grew by 38% in three months after implementation.

It’s an ongoing studying course of

However market validation nonetheless stays certainly one of FusionQB’s largest challenges. 

Not all solutions are sellable and replicable out there right this moment. The market traits and enterprise wants change quicker than we all know. So, we proceed market validation even after the answer was launched to enhance its worth within the consumer’s enterprise.

Stephen Lim, co-founder and Chief Technique Officer of FusionQB.

A technique the workforce does that is via a 90-day hand-holding assist programme for shoppers so FusionQB can perceive their wants on a deeper stage to create high-impact worth.

The pandemic has additionally slowed down the corporate’s regional growth plans, however FusionQB has been in a position to overcome this by launching a reselling partnership mannequin that leverages native companions to increase and replicate its enterprise past Malaysia.

On the brighter facet, the corporate elevated its headcount by 30% throughout the pandemic by working with exterior companies to usher in focused abilities, and implementing inner referrals.

Stephen shared that FusionQB can be pursuing a pre-series A fundraising exercise, and so they’re presently talking to some company buyers and VCs to boost US$1-2 million.

With contemporary funds, the workforce will additional increase their expertise pool in addition to penetrate the bigger Southeast Asian market over the subsequent three years.

“We’ve got been actively taking part in SEA occasions and programmes to realize publicity and market discussions with native gamers, and this 12 months we have now shaped a workforce centered on Indonesia,” Stephen mentioned.

To make sure that the workforce is supplied for these development alternatives, FusionQB joined the Malaysian World Innovation & Creativity Centre’s (MaGIC) World Accelerator Programme (GAP) the place it’s been in a position to profit from the mentors, coaches, and VCs throughout the community.

Extra particularly, it has helped the workforce improve its understanding and positioning of its fundraising alternative, which is able to pave the best way for the remainder of its growth plans.

  • Be taught extra about FusionQB right here.
  • Examine different Malaysian startups we’ve featured right here.

Featured Picture Credit score: FusionQB

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