Bengaluru: Avidestal technologies, the tech arm of global research giant, Markelytics, has formally announced the launch of its SaaS-based product for market research – Me-Grow. The newly introduced product aims to help businesses attain self-growth, through consistent & customized consumer feedback. Concluded across five metro cities – Bengaluru, Chennai, Delhi/NCR, Mumbai & Kolkata, the pilot launch of the product witnessed over 3450 signups from businesses across 20+ industries.
Along with this, the company has also announced that it has witnessed a 30% m-o-m growth in its overall subscriber base across the centres after the launch of its paid subscription module. Keeping its growth plan in mind, the company has further predicted an increase in the ongoing trend and subsequently in its M-o-M growth after the launch of its franchisee model (businesses with headquarters & branches across the country), scheduled to happen in January 2023. This would enable HQs to monitor the entire consumer experience process centrally from a headquarter. Covering all the consumer-facing industries, Me-Grow believes it brings a revolution in how businesses envision the feedback process and its analysis.
Backed by cutting-edge AI technology, Me-Grow will enable businesses to combine the strength of market research with minimal to no manual effort into a product, whether organised or unorganised, at a low cost. It will further enhance their business operations and catalyse their growth across all sizes and geographic footprints. With its feature-rich and user-friendly platform, businesses across sectors can also get in-depth insights into understanding consumers and competitors. In short, Me-Grow can assist organizations in improving their customer experience through consistent & customized feedback & online communities, strategy recommendations, and business forecasting, propelling them toward greater growth and adapting to the changing business environment.
Sharing the details, Jasal Shah, MD & CEO of Avidestal Technologies, said, “After years of in-depth research, we developed Me-Grow, which offers the utmost power of insights, AI & growth to businesses. An ingenious integration of our 4 other SaaS products, Me-Grow offers a complete & customized process of consumer feedback along with plans to bring services such as AI-based forecasts with seasonality, strategy recommendations and predictions, online community, and others to businesses. In addition, we are also planning to set up field teams in 20 more Indian cities in 6-8 months with a dedicated corporate sales unit to tap into the franchise businesses.”
Speaking about the product, Anand P (Andy), Director & co-founder of Avidestal Technologies, quipped, “Me-Grow is going to be a revolution in terms of giving the power of feedback & insights to many businesses because of its highly penetrative pricing and unique offerings. To date, we have witnessed a signups-to-subscription rate of 50%, which is way above the numbers we forecasted. This tells the market acceptance, and as we go along, we are getting a lot of learnings to make this product better and sharper for its users. We intend to release a host of features in the next months, including the ability to form and manage an Online Community, AI-based strategy recommendations, forecasts, etc.”
At Me-Grow, the subscribers (businesses) can simply signup up for the platform with their email address or mobile number and complete the business profile within minutes, followed by selecting the payment plan and getting a unique QR generated for the business. Currently, Me-Grow provides a free plan of 30 days along with monthly and annual subscription plans. Once the signup is done, a Growth Template needs to be selected & made live on QR or sent to consumers through mobile. Me-Grow generates all responses in real-time as pie charts & other visualization methods for simple comprehension and leverages these data insights to construct effective business strategies. Me-Grow then allows the brands to connect with their customers for group discussions (read online FGDs/IDIs) to understand them better.
The product offers 20+ industry-specific pre-set Growth Templates, GTs (read questionnaires) with three other GTs to understand the habit, usage, and experience of the consumers, along with an option to develop custom GTs. The plug & play model of the product allows subscribers to switch between GTs anytime to understand consumers on parameters they find more pressing. To date, subscribers have made a total of 6000+ GTs live, signifying the seamless process to switch between GTs anytime.