Where Did the Name nectarom Come From?

nectar + om = nectarom { the secret formula for squeezing the juice out of your marketing }

nectarom logo
Nectar Online Media, Inc.

During many of my meetings, I’m often asked where the name nectarom came from and what we do as a company. Well, here’s the short form: Nectar Online Media is a big data customer analytics software company { yes, a lot of buzz words in there } and then I continue we make the easiest to use 1:1 marketing suite, period.

Almost always, the fact that we make the easiest 1:1 marketing suite out there brings up additional questions and gets people very interested. Now for the part about our name — there is much significance to any name and our company’s is no different.

As an entrepreneur, I’ve had the fortunate opportunity to name several businesses and it is no easy task. During my MBA course on marketing and branding, I remembered a few things that my professor taught me … a brand needs to be memorable, distinguishable and, ultimately, it’s the guiding force behind the company.

As I was launching Nectar Online Media and thinking about our name I tried my best to keep those principles to mind. I asked family, friends, and our advisors while doing lots of research.

There are many marketers who are familiar with the UK Loyalty Points company ‘Nectar’, we have no relation to them.

So, here goes: there are two parts to our name “nectar” and “om”.

For the first part, “nectar” there are two meanings:

  1. Because we’re a big data customer analytics software company, we want to be able to squeeze the essence, the juice, the nectar out of your data { see what we did there? }
  2. Now the ‘insider’ angle, my name “Amrit” comes from the root language of Hindi called Sanskrit. In Sanskrit, one of the meanings of ‘Amrit’ is ‘Nectar’ … so, in a way, it’s a fun double meaning for our brand.

Now, onto the second part, “om” { you might already be seeing where this is going }:

We decided to add “Online Media” as part of the rest of our name. Reality is we’re about more than online media and we are doing some fun work around ‘offline media’ as well. The practical part was our web domain name, who is going to remember “www.nectaronlinemedia.com” { that’s a mouthful }? So I decided to look for shorter domains and we were able to get www.nectarom.com.

Here comes the fun part again, when abbreviated “Online Media” becomes “OM”. In the Indian heritage , OM is considered a sacred mantra or formula to achieve a higher goal. OM is also considered the primordial sound said to be all pervasive. { okay, yes, deep }. So there comes the meaning of the second part of our name, while we can extract the essence of your big data to help create some amazing results … without the right formula, you can’t reach the goal.

 

Get to know us … you’ll find all sorts of fun facts about what we do and who we are.

 

 

Using Big Data to Micro-Target: Integrating Big Data for 1:1 Marketing

personalization_social_media

One of the things I love about my job at Nectar is sharing with our customers how we deliver value to their business by enabling them to micro-target messages to their customers. Recently, while reading McKinsey Quarterly articles on big data, I saw a couple of statements from McKinsey directors that really resonated with me, because it addresses the core of Nectar’s value proposition.

1) From David Court: “…the key is to focus on the big decisions for which if you had better data, if you had better predictive ability, if you had a better ability to optimize, you’d make more money.”
2) From Tim McGuire: “Analytics will define the difference between the losers and winners going forward.”

I believe that if you make your customers happy, they will be loyal to you, and loyalty generally translates into greater revenue (and less cost) for your company. How do you make your customers happy? By knowing them. Know how they interact with you, know what they buy from you, know what they like about you, know who they are.  At an individual level.  Of course, this is easier said than done.  But with the right tools and data, it can be done.

When, where, what and how you communicate with your customer is one of those big decisions.  Using the data you already have from your customer and combining it with other big data–online behavior, social, CRM, mobile, etc.–enables you to predict what that customer would want to hear from you.  This predictive ability, in turn, allows you to optimize your relationship with that customer, which then helps you make more money.  (I use the singular “customer” because that’s what a robust Digital Management Platform enables you to do: communicate with each of your customers as an individual, yet do it at scale.)

Technology exists today to bring all of your available big data together to build a foundation from which to make your big decisions. A company like Nectar can help you bring all this data together to enable you to build 360 degree profiles of each of your customers.  But we don’t stop there; we then apply our proprietary algorithms to analyze your customer profiles to determine the most relevant communications to deliver to each customer–we call this hyper-personalization.  To complete the circle, we then help you distribute consistent hyper-personalized messages across every digital channel your customer uses.

We like our perch at the intersection of big data, analytics and hyper-personalization because when we bring each of these tools to bear for our customers, big decisions not only become easy but they also make you money.

Want to learn more?  Please email contact@nectarom.com for more information.

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