TiE50 is a Silicon Valley-based tech awards programme that is in its ninth year of running
Singapore-based data analytics startup BigTapp has clinched a TiE50 award at this year’s TiEcon conference.
BigTapp was selected for its big data analytics solution, which helps businesses identify customer intents like intent to buy, travel or other aspects.
TiE or The Indus Entrepreneurs (the founders came from South Asia, hence the name) is an entrepreneurial organisation that began in 1992 with the aim of helping entrepreneurs build their companies and network with like-minded folks.
Since then, it has grown to 61 chapters in 18 countries across five continents and claims a membership base of over 14,000. Among the programmes it hosts every year includes its TiEcon conference, which has been held in Silicon Valley for 25 years. This year, TiEcon attracted 6,000 attendees.
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For nine years, TiE also hosted the TiE50 awards. It aims to provide exposure for promising, fledgling startups. Among its distinguished past recipients include the inbound marketing SaaS company HubSpot.
At TiE50 this year, BigTapp was put before a panel of 31 judges consisting of senior executives, venture capitalists, and marquee tech entrepreneurs.
“Being selected as a Top 50 Global Enterprising Technology startup in Silicon Valley is an immense honour for BigTapp. Being named in the global top 50 is a validation for the disruptive innovation we are bringing to solving the needs of the Marketers in Asia Pacific,” said Venkata Narayanan, founder and CEO of BigTapp.
BigTapp’s solution
Founded in 2013, BigTapp wants to help businesses gather deep insights from potential customers through various internet channels.
“For marketers to be effective, they should be able to identify the needs of customers and reach out to them with the appropriate messages or offers at the right time so that the ‘suspects’ become ‘prospects’ and eventually ‘customers’,” said Narayanan.
“In the internet age, digital natives or digital migrants spend a lot of time in internet leaving a data exhaust that contains rich insights of what their intents are, what they want, etc. This has been exploited by search engine companies like Google, or social media companies such as Facebook, who derive bulk of their revenue by providing an avenue for marketers to target customers using advertisements,” he said
“The key pain points in this scenario are lack of deep insights given the nature of conversations that can happen in social media or limitations of search engine (for example. if you want to buy a car, you will be researching in car forums and not in Facebook) and inability to send one-on-one messages to the identified ‘suspect’,” he added.
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BigTapp tackles this pain point by partnering with local single purpose communities such as car portals and using Neuro Linguistic Programming (NLP), AI and Deep Learning technologies, identify the intent of the individual along with attributes like affluence, family size, relationships, sentiments and life events.
The identified ‘suspects’ can then receive marketing messages either in the form of advertisement or direct messages such as emails and SMS.
Currently, BigTapp has 12 customers and 5 data partners. It claims to log a yearly revenue of about US$1 million.
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Image Credit: BigTapp
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