Serial Entrepreneur Bruce Buchanan is Scaling Ecommerce Technology Company Rokt to the Next Level

Bruce Buchanan, Rokt’s CEO, highlights ways in which marketing technology can positively impact businesses for all involved. Growing (and scaling) a multinational corporation is not for the faint of heart. Australian serial entrepreneur Bruce Buchanan thrives on these high-level challenges. In 2012, he co-founded the ecommerce technology business Rokt in Sydney, Australia. He also serves as the company’s Chief Executive Officer (CEO) and Chairperson. Bruce Buchanan is currently scaling this $2.4 billion high-growth company to the global stage.

On November 12, 2019, Bruce Buchanan appeared on the Scaling Up podcast series. During this segment, entitled “Art Meets Science with ROKT’s Bruce Buchanan,” he highlighted issues CEOs and founders face when growing and scaling their companies.

Bruce Buchanan also offered insights into his lifelong entrepreneurial journey. His transformation from an enterprising young boy into a global business leader has been marked by a desire to offer ever-better customer solutions.

The Bruce Buchanan Rokt Connection 

Like other innovative customer-centric companies, Rokt was created to fill an existing market gap. Bruce Buchanan realized that the currently available technology didn’t fully deliver the relevant solutions consumers deserved.  Customers who completed their initial ecommerce transaction often didn’t receive relevant offers designed to enrich their purchase experience.

Recognizing this opportunity, Bruce Buchanan co-founded Rokt in 2012. At every Transaction Moment™, the Rokt technology utilizes real-time first-party data and AI to showcase each customer’s optimal next step. During the Scaling Up podcast, Bruce Buchanan noted that Rokt performs two key functions for the company’s clients.

“At the end of the transaction, you see a lot of [those] marketplace or distributed commerce offers. [However], a lot of the secret sauce we do is actually helping those ecommerce companies power their own products and services as well,” he remarked. For perspective, each Rokt ecommerce partner cultivates customer engagement and loyalty while realizing 10x the engagement of Google Display (0.4% CTR) and 3x of Facebook Newsfeed (1.1% CTR)

Currently operating in 16 global markets, Rokt is a technology unicorn carrying a $2.4B valuation. While continuing to drive the firm’s rapid growth, Bruce Buchanan is preparing to complete Rokt’s initial public offering (or IPO).

Taking Jetstar to the Next Level 

Before launching Rokt, Bruce Buchanan excelled as Jetstar’s Group CEO. The Asian market’s premier low-fare airline, Jetstar maintains a domestic and international presence in 16 Asia-Pacific countries. Bruce Buchanan was intimately involved in multiple aspects of Jetstar’s growth.  He started by authoring the original Jetstar business case.

Next, Bruce Buchanan designed Jetstar’s highly successful macro-Asian market strategy. Finally, he created Jetstar International, the world’s first low-cost, long-haul model. During his tenure with the airline, Bruce Buchanan grew the global team to over 7,000 and achieved more than $3 billion in revenue. During this time, Buchanan also developed the core concept for what would become Rokt.

Excelling with a Consumer Sector Leader 

Before assuming his Jetstar role, Bruce Buchanan spent five years with The Boston Consulting Group (BCG). While at this respected global consultancy firm, he gained a wide-ranging knowledge of the airline industry. With his growing expertise, Bruce Buchanan was considered an emerging global leader in the BCG consumer practice sector.

Bruce Buchanan’s Lifelong Passion for Entrepreneurship 

Serial entrepreneur Bruce Buchanan has business ownership in his blood. As a young boy from Sydney in New South Wales, Buchanan overflowed with business ideas. Early on, he started a car-washing service and created products to sell at community markets. During his high school years, “Mr. Fix It” Bruce Buchanan opened a handyman business. While attending the University of New South Wales, he launched his first technology company.

A College Education Provides a Solid Foundation 

Bruce Buchanan’s career preparation effectively began during his college years. Attending the University of New South Wales, he graduated with his Bachelor of Civil Engineering in 1994. Next, he immersed himself in a joint MBA program from the Australian Graduate School of Management along with the UCLA Anderson School of Management.

Bruce Buchanan obtained his MBA five years after earning his bachelor’s degree.

Bruce Buchanan’s Evolving Leadership Style 

Bruce Buchanan’s leadership style has evolved over several decades in the business world. During the Scaling Up podcast discussion, he acknowledged the significance of this often steep learning curve. “Yeah, I think it’s one of those things as you get older and wiser, as they say, you learn that you definitely have lots to learn. Every time you get a year older, you realize how much more you’ve got to learn,” Bruce Buchanan remarked.

A Tailored Leadership Style 

Today, Bruce Buchanan has tailored his approach to lead with superior emotional intelligence. With an appreciation of each team member’s value, he welcomes conversations about the individual’s professional growth. His Scaling Up podcast comments reflected this more empathetic leadership style.

“I wouldn’t say I’ve got a set leadership style, and it depends on the individual. You get hugely competent people, and you need to give them the space to get on. They come to you in their own way.

“I think what’s super important is you have discussions with the individual about their development, and you have discussions about where they’re doing really well. You have those [conversations] in a way that creates trust and creates a framework where they feel like they’re personally growing.”

The Most Relevant Leadership Style for Each Situation 

“In terms of broad-based decision making, I think it’s important to be able to step back and say, ‘What’s the right leadership style for a particular situation?’ Sometimes, it’s being supportive, and sometimes, it’s being conciliatory. Different styles work in different situations.

“I think probably the greatest lesson as I’ve gotten older (and somewhat wiser) is I tend to step back a little bit more and tend to give people a bit more time. I tend to let people understand that there are many different ways to get to a particular destination.

“Sometimes, it’s important to let other people make the choice, and they might take a longer path to get there. However, that sense of ownership and pride that they have in the execution, as well as the sense of achievement, is so important in scaling up a broader business,” Bruce Buchanan concluded.

Growing the Bruce Buchanan Rokt Brand 

Today, Bruce Buchanan continues to magnify Rokt’s role in the global marketplace.  The ecommerce technology company enables leading businesses to create relevant customer experiences at scale using first-party data and AI.

Through these value-added services, each Rokt client is well-positioned to increase customer engagement and long-term loyalty. Both positive attributes are critical in realizing continued business growth and optimizing the company’s competitive position.

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