In a rapidly evolving business landscape, Martech tools are becoming indispensable for companies aiming to achieve sustainable and profitable growth. Neelima Burra, Chief Strategy and Transformation Officer at Luminous Power Technologies, highlights how these tools are transforming their business model. By leveraging artificial intelligence and other advanced technologies, Luminous Power Technologies is not only enhancing its marketing strategies but also expanding its retail presence and product offerings.
AI-Powered Marketing Strategies
Artificial intelligence has revolutionized the way businesses approach marketing. At Luminous Power Technologies, AI tools are being used to streamline various marketing functions. These tools help in automating repetitive tasks, allowing the marketing team to focus on more strategic initiatives. For instance, AI-powered tools are being utilized for pricing management, which was previously a manual process. This automation not only saves time but also improves accuracy, leading to better profitability.
Moreover, AI is playing a crucial role in enhancing customer engagement. By analyzing customer data, AI tools can provide personalized recommendations, thereby improving the overall customer experience. This level of personalization is essential for building long-term customer relationships and driving repeat business.
Expanding Retail Presence
Luminous Power Technologies is also focusing on expanding its retail presence, both online and offline. The company is investing in building an in-house conversational AI to boost its online retail capabilities. This AI tool will assist customers in finding the right products, answering their queries, and even helping them make purchase decisions. By providing a seamless online shopping experience, Luminous aims to increase its market share in the e-commerce space.
In addition to online retail, the company is also strengthening its offline presence. Luminous is investing in brand-building activities and channel engagement programs. One of the significant investments has been in the Indian Premier League (IPL), which has provided substantial visibility and engagement opportunities. These efforts are part of the company’s broader strategy to reposition itself as a leading global consumer technology brand.
Sustainable Growth Initiatives
Sustainability is at the core of Luminous Power Technologies’ growth strategy. The company is making significant strides in the renewable energy sector, with more than 25% of its business now coming from solar energy. This focus on renewable energy is not only beneficial for the environment but also aligns with the company’s long-term growth objectives.
Furthermore, Luminous is committed to local manufacturing and the ‘Make in India’ initiative. By manufacturing products locally, the company aims to reduce its carbon footprint and support the local economy. This approach also helps in building a stronger brand image and gaining customer trust.
