The enhanced set of capabilities in the new CEP enables full-funnel interactions to drive lower CAC and higher LTV
Gupshup.io, the leading Conversational Engagement Platform, has unveiled a series of new and cutting-edge features in their latest launch. This latest update is designed to empower businesses to engage in personalized, two-way conversations with their customers at scale, especially as the festive season approaches.
The latest update streamlines and automates customer acquisition, qualification, personalized engagement, remarketing, and customer service. It introduces features such as audience categorization, automated retargeting for leads generated from click-to-chat advertisements, as well as from the brand’s own channels. The addition of Gupshup.io’s ACE LLM into generative AI-driven chat and voice bots guarantees high quality, precise interactions.
“The conversational phenomenon has seen a massive boost with the rise of LLMs, and we observe businesses transitioning to two-way interactions, whether for advertising, growth marketing, commerce, or support. Personalization is a crucial component of customer experience and with the emergence of click-to-chat ads, brands are now building their first-party databases and harnessing them to offer personalized and relevant interactions to their customers,” said Gaurav Kachhawa, Chief Product Officer, Gupshup.io.
Top brands across verticals such as BFSI, retail, eCommerce and more are using Gupshup.io Conversational Engagement Platform to capture leads, nurture them through interactive campaigns and create delightful 1:1 experiences to drive higher engagement rates. Through the use of Gupshup.io’s Bot Studio and visual journey builder, business users can craft omnichannel bot flows, quickly reducing the time to launch and optimize journeys. Through AI-powered Agent Assist dashboard, agents can aid consultative selling based on a customer’s recent interactions, leading to better resolution and higher conversion rates.
Key capabilities in Gupshup.io’s Conversational Engagement Platform
Personalized and interactive campaigns at scale
Now businesses can quickly launch advanced two-way interactive campaigns on channels such as WhatsApp with just a few clicks. With new capabilities in the campaign manager brands can easily make any message two-way by simply linking a journey to the template. Additionally, the Campaign Manager now offers an immediate preview of the selected template, allowing brands to see what the message will look like to their users.
Automated remarketing for cold leads acquired through conversational ads
Click to chat ads help businesses acquire leads from digital ads and qualify them through a chatbot conversation, eliminating the friction associated with form fills and app downloads. With the Conversational Ads Manager, brands can build their first-party database and drive higher conversions through remarketing within the same chat window. With this release, businesses can set up rules to automatically nudge leads that didn’t convert earlier. Marketers can send retargeting messages up to 72 hours.
AI features to help save agent time and resolve customer problems better
While running a helpdesk on WhatsApp, it’s time-consuming for agents and supervisors to catch up with lengthy chat history to get the context. With AI Summarize, Gupshup.io Agent Assist can generate a short blurb of the chat with the key details, so agents can seamlessly continue the conversation. Available in Beta. Agents can also leverage the Rephrase and Expand features to improve their responses, making them more professional and clear.
Full funnel analytics to help optimize spends and journey flow
Beyond advertising impressions and CTR, brands will now get insights on the chatbot funnel performance and retargeting campaigns effectiveness. Bot analytics now provides businesses with metrics and trends of conversations, messages, number of users, and returning users along with insights into typical drop off points.
ACE LLM for more natural conversations without redundant back and forth
Subsequent to the launch of ACE LLM in Q3, this release brings AI into the no-code journey builder, allowing business users to train bots on their enterprise knowledge base. With the ability to automatically identify intents and entities, the bot becomes smarter, avoiding needless questions that are already available in customer input.
Climate tech Startup Bio-Logical raises $1m Seed round: Kenya’s Agricultural Sector to Get a Boost from Bio-Logicals Landmark Biochar Carbon Removal Facility
Climate tech company Bio-Logical has raised a $1m seed round to scale up its operations in Kenya, facilitating its mission to build climate resilient communities of smallholder farmers around the world.
Smallholder farmers are facing a dire outlook with faltering harvests, increasingly extreme weather and skyrocketing fertiliser prices becoming increasingly common due to climate change. Bio-Logical addresses this challenge through a circular economy, transforming waste into biochar, a super material that sequesters carbon for millenia and regenerates degraded soil. Their biochar is then incorporated into an organic fertiliser which is distributed to smallholder farmers in the region, regenerating land, increasing crop drought resistance and boosting yields by over 50%.
“Bio-Logical was founded on the belief that Smallholder farmers should not suffer at the hands of a climate crisis they have played no part in. At present, soil degradation and changing weather patterns due to climate change is directly threatening the livelihoods of 500 million smallholder farmers around the world.” Rory Buckworth, Co-Founder
Utilising its innovative technology, Bio-Logical’s first site will be the largest biochar production facility in Africa. It will transform over 30,000 tonnes of agricultural waste a year into biochar, sequestering 25,000 tonnes of CO2. This process will generate carbon credits, the revenue from which will be used to subsidise its resilience building fertiliser for smallholder farmers, boosting yields and reducing fertiliser costs.
“We believe carbon credits should do more than simply remove carbon from the atmosphere and instead should be used to build the resilience of climate vulnerable communities” Philip Hunter, Co-Founder
The funding round is led by the Steyn Group alongside Angel Investors Rob Konterman, Luke Calcott-Stevens and Jochem Wieringa. The round will go towards the development of Bio-Logical’s first Kenya site which will pave the way for its expansion throughout the region that will see the company scale to support 1 million smallholders and sequester 1 million tonnes of CO2 annually by 2030.
According to setscale, More than 50% of US Small Businesses are Unaware of Federal Government Contracts, Losing $84 Billion a Year in Valuable Deals
Setscale, a purchase order financing company, reports on small business financing, highlighting the lack of access to US government contracts
Setscale, the purchase order financing company, released today its first-ever report on US small business financing. The report surveyed US small business owners to better understand some of the financial barriers to small business ownership, including their awareness of federal government contracts for small businesses.
More than half (52%) of all surveyed small business owners revealed that they aren’t aware of the specific contracts the US federal government awards to small businesses each year, missing out on approximately $84 billion* per year.
Government contracts are well-valued and often serve as a gateway to a steady source of income and small business growth. More than 70% (71%) of surveyed US small businesses say that they’re aware of lucrative and reliable government contracts, but more than half (52%) say they don’t know what specific contracts are available to them. And over a quarter of US small businesses (29%) are completely unaware that the federal government awards contracts to small businesses.
This report highlights that the federal government is investing in small businesses in record-high amounts, but business owners are still struggling to fill open government purchase orders. Almost 70% (69%) of US small businesses struggle with cash flow and working capital, preventing them from meeting the demand of a government contract. Many businesses pursue lines of credit from a bank or financial institution to fulfill purchase orders, but these are costly and hard to obtain. Alternative finance like purchase order financing can help these businesses secure and fulfill valuable government contracts.
Moreover, US small business owners say that a lack of cash flow and working capital prevents them from securing government contracts. At 22%, a lack of cash flow or capital is the second most popular reason that prevents US small business owners from securing a government contract. The most popular reason they aren’t securing government contracts is due to a lack of time and resources (25%).
“Our small business financing report sheds light on an issue that more than half of surveyed business owners know all too well – that even though the US federal government is awarding a record number of contracts to our small businesses, they’re still struggling financially to fulfill open purchase orders, potentially losing out on more than $80 billion each fiscal year,” comments Daniel Fine, Founder and CEO of Setscale.
“Government contracts are fierce competition for US small business owners for a reason. They’re reliable, well-valued, and often lead to steady sources of income. However, due to a lack of knowledge of the specific government contract awarding process, business owners are unsure if they can fulfill the government’s open purchase orders without pursuing a line of credit from a bank or financial institution,” elaborates Fine. “With interest rates at an all-time high, it’s an incredibly bad time to be a borrower. PO financing allows a small business to quickly bid on a contract, finance the full transaction, and scale operations to meet the size of the order.”
*In Fiscal Year 2022, the US federal government awarded $162.9B in federal contracting opportunities to small businesses. 52% of surveyed US small business owners reported that they aren’t aware of the specific contracts the US federal government awards to small businesses * $162.9B = $84B in lost opportunities.
Setscale designed and executed research for this report in collaboration with Censuswide. 251 US small business owners in companies with less than 50 employees (aged 18+) were surveyed online in October 2023. Censuswide abides by and employs members of the Market Research Society which is based on the ESOMAR principles.
Setscale is a fintech startup solving the trade financing dilemma for small businesses. Small businesses frequently get purchase orders, but don’t have the money to fill them. Through its PO financing technology, Setscale finances the cost of those goods, allowing small businesses to focus on product and sales, enabling them to scale. Setscale is an ideal partner for SMBs, coming in where traditional financial institutions won’t, enabling SMB’s to finance their growth. Setscale funds supply. You meet demand.
Monsha'at leads delegation of Saudi startups at Web Summit 2023
As part of its work to showcase the growth of the Kingdom’s SME sector, Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, took part in Web Summit 2023: one of the world’s leading technology conferences.
Held from 13 to 16 November 2023 — in Lisbon, Portugal — the event provided Monsha’at the opportunity to spotlight Saudi Arabia’s most innovative SMEs. The authority led a delegation of Saudi start-ups, calling attention to their success and contributions to the national economy. Moreover, the event provided a platform for industry leaders, including policymakers, heads of state, and tech CEOs and founders, to address global challenges.
Sami Al Hussaini, Governor of Monsha’at, said: “2023 has been a landmark year for Monsha’at and the Saudi SME sector, with the number of start-ups in the Kingdom growing to over 1.2 million. While we have made a great deal of progress, we can achieve more. Launching innovative partnerships with businesses and entities around the world is essential. Events such as Web Summit 2023 enable us to do that, immersing some of our leading start-ups in an energized environment conducive to collaboration, innovation and growth.”
Saudi Arabia’s start-up ecosystem is currently undergoing a period of rapid growth. Amid the continued expansion of its non-oil sector, the Kingdom achieved one of the highest economic growth rates in the world last year and has been recognized as one of the best-performing countries in terms of leveraging reforms to improve its business environment. In Q2 2023, the Kingdom led the region in VC funding and capital raised, accounting for 42% of MENA funding at a value of $446 million.
Among the Saudi start-ups participating in Web Summit 2023 were: Zid, Lendo, Nuqtah, Syarah, Asasat Advanced Systems, Wosul, Kabi, Master Works, resal, WhiteHelmet, Mustadem, and Tachyon.
Monsha’at’s participation at WebSummit follows its recent participation in other world-class conferences, including SWITCH Singapore, and ComeUp Korea, where it has helped connect some of the Kingdom’s leading start-ups with the international business and investment communities.
Monsha’at was established in 2016 with the aim of regulating, supporting, developing, and sponsoring the SME sector in the Kingdom in accordance with global best practices, in order to increase the productivity of SMEs and their contribution to GDP.
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