Bootstrapped SaaS startup Feedify provides tools to e-commerce websites to help them effectively engage with their customers.
While the ads and offers on e-commerce platforms enticed 24-year-old Seema M, they did not always satisfy her. For she would often click on a product, but the action would not lead to the product she wanted, but to something else altogether on the website. This meant that she would then have to scroll through pages to reach the product she wants.
It was something that 30-year-old Ankur Phadnis, who has earlier started the snacks platform Namkeenwale, happened to notice with keen interest. He realised that shopping in the real world meant having floor assistants guiding you. But this was missing across all websites.
“There was no mechanism that existed to convert visitors into a potential buyers and to further engage them. That is how I came up with the idea of Feedify,” Ankur explains.
Building the team
Feedify is a SaaS platform that provides out-of-the-box tools to blogs, websites and e-commerce to engage customers, helping them understand their profile better.
Ankur roped in people who had worked with him at his earlier startups–Ashvin Patel, Abhijeet Sidhaye, Aayush Jaiswal, Pranjal Parihar, Kamal Prajapati and Sundeep Lal, all of whom came with technical expertise.
While the team had the idea in place, executing it was not as easy. “There were lots of hiccups as we wanted to develop a world-class product that seamlessly gets integrated and caters to the need of website owners across the globe,” says Ankur.
On-boarding like-minded people who were not only convinced about the idea but were also eager to develop a world-class product proved to be a challenge initially. Ankur shared the idea with a few professional’s friends who helped him zero in on some highly passionate people.
What does Feedify do?
The bootstrapped startup provides push notifications that help visitors turn into subscribers, and also helps companies reach out to those who aren’t present on the website yet. The platform offers pops, surveys and notifications that help create personalised events. It also helps reduce bounce rate by showing exit Intent. One can see a pop-up when he/she tries to leave the website.
Websites can also get after-sales feedback, which helps in improving upon one's product, policy and pricing. “We also have a feed-forward mechanism, which is a customised feature that helps to sort the feedback received and shoot alerts to specific departments, thereby automating your processes,” says Ankur.
Started six months ago, the startup claims to have brought over 1,500 different websites onto its platform. Working on a subscription-based model, it charges a fee of $120-1,800 annually.
The market and future
With so many e-commerce platforms present today, it has become important for each of them to be more intelligent, and help consumers find what they are looking for. Platforms like Fynd are even working with offline brand stores, giving shoppers the latest in-season fashion at the store price, while applying discounts only when there is a discount in the store.
There also are artificial intelligence and machine learning platforms like Mad Street Den, which has Vue.ai giving you the latest in-season fashion at the store price, while applying discounts only when there is a discount in the store.
Last year, Ratan Tata made his first investment in AI, and backed Niki.ai. AI-based visual and image search platform Snapshopr raised an undisclosed amount of funding this year. On their differentiator, Ankur states that Feedify has a superior product offering built upon cutting edge technology, easy navigation tools, competitive pricing, robust customer support and smooth on-boarding and handholding mechanism.
“In the near future we plan to expand our operations and come up with an inventive and visionary product that caters to the ever-changing and dynamic requirements of the tech world. We are also exploring the option of seed funding that will help us expedite the process,” says Ankur.