How should founders think about using offline channels for growth? Is phygital a real option or just a mirage? Rajinder Balaraman and Vikram Vaidyanathan double click on the myths around phygital, bust them and share learnings for founders thinking of going phygital.
👉MYTH #1 Phygital has a higher CAC - It depends basis category, users and ticket size - Dezerv who employs a phygital model has a lower CAC than its competitors, whereas OneCard, operating purely online has a CAC that is 4-5x lower than SBI cards.
👉MYTH #2 Going offline slows you and makes it harder to scale - When you employ the right tech, scalability at speed becomes possible. Mamaearth’s online presence has spiked from 15% to at least 50% in 3 years.
👉MYTH #3 Customer experience journey is too complex in phygital - The journey is actually complex, but is an opportunity for founders to create an edge, and potentially a long term moat.
👉 MYTH #4 Phygital is not relevant for all sectors - While there are sectors in the extreme who don’t need a phygital model, a significantly larger number benefit from creating a phygital experience. SaaS is an excellent example, where prima facie it looks like a purely digital model, but the sector spends much more on offline branding and events.
If you are a founder who is evaluating going phygital, this episode of Matrix Moments would help you make an informed choice.
0:00 Introduction
1:17 What is phygital and why is it important?
2:58 What is the definition of phygital?
3:05 What are the four myths about why not to build in phygital?
8:57 Is phygital slow to scale?
17:37 Does phygital have limited relevance?
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