This Customer Spotlight is on Ujjwal Dhoot, Chief Marketing Officer of FSAstore.com, provider of the only one-stop shop stocked exclusively with Flexible-Spending-Account-eligible products – thereby eliminating the guessing games consumers face as to what is and isn’t reimbursable every time they walk into a drugstore. The marketing team at FSAstore.com uses a “360-degree” approach to communicating with their customers and prospects.
What compelled you to join the FSAstore.com team?
FSAstore.com was founded on the idea that it should be easy and convenient for a consumer to use their FSA. I was drawn to the idea that so many consumers leave money on the table and that we’ve built an easy way for them to learn more about their FSAs and to save even more of hard-earned income. We estimate that hundreds of millions of dollars are being forfeited every year simply because consumers do not deplete the funds in their accounts. This model and the great team here excited me and compelled me to join.
How do you approach revenue generation for FSAstore.com?
We are a nimble organization and believe in moving quick to address the challenge the FSA customer is facing. We have over 20 different marketing channels and avenues for customer acquisition and retention, supported by the best in class analytics and CRM solutions. Our strong expertise in the regulatory environment, with a data-driven approach to providing the customer what they want is what helps us get in front of the right person at the right time with the best personalized message for them.
We recently produced some in-pack coupons for you. How does in-pack fit into your marketing initiative scheme?
Most e-commerce companies face the same challenge of retention, and this is the single biggest lever for a business to create long-term profitability. We see the shipping box inserts and dynamic postcards that Excelsior Integrated provides an important component of an effective, near-360 degree approach to providing an opportunity to engage our buyers and turn them into loyal customers.
What advice do you have for marketers managing across the digital and physical divide?
A consumer sees over 3,000 marketing messages in a day, but only remembers a handful of best-case scenarios. The only way to have your message stand out is to be relevant. There are a lot of powerful analytics tools and methodologies that can help bridge the divide between the online and offline, and focus on the customer. Marketers need to move away from channel-focused marketing to customer-based marketing. We send out many marketing messages to a customer and potential customers.
What do you like to do for fun?
When I’m not thinking about the next thing to test at FSAstore.com, I enjoy exploring food in NYC, reading current affairs, and doing anything outdoors.