Loyalie: Proffering a Simple yet Efficient Way to Maintain a Loyal Customer Base
Date: Tuesday , October 18, 2016
Not to sound melodramatic, but we do feel a little betrayed when our favourite shops turn blind eyes towards us. Akhil Saraf (Founder & CEO, Loyalie) had a sip of that bitter beverage when he visited his favourite cafe, after being out of station for a month. Due to some staff shuffle, there was absolutely no recognition for him despite being a loyal customer for years. They had even started a Groupon Voucher/Deals, where the person in the next table was paying Rs.400 for exactly what Akhil was paying Rs.1,000 for. It hit him like a lightening bolt that loyal customers (who bring in actual RoI for the business and are the best source for qualified referrals) are being ignored in the market, while everyone is keen on luring new customers with a welcome reward. That\'s when Akhil determined to change not the cafe but the world of loyalty by incepting Loyalie - an advanced digital loyalty company.
Loyalie\'s simplified yet extremely effective stamp-based loyalty system ensures guaranteed repeat customers, since the loyal customers get rewarded for visiting the same place repeatedly, regardless of the value of transaction. With the company\'s loyalty system, the rewards are definite and most importantly progressive, as opposed to the opaque points-based system, where customers have to keep track of the points with every purchase and accumulate them. For instance, you might get a free brownie during your second visit and a free meal during your fifth. While Loyalie\'s services are always completely free for customers, merchants can avail its services for an annual subscription fee, after trying the product for a trial period of one month. Loyalie develops personalised loyalty rewards systems from its customer analysis for better engagement.
Loyalty Card App
The company\'s loyalty card app provides users with contents such as offers, deals, promotions, which are relevant to them. Furthermore, the app helps customers to receive the latest updates about sales and solution in their respective cities. On the other hand, Loyalie provides its clients with detailed analysis of their customers\' spending habits, behavioural patterns and market trends among others to help them engage their customers in a smarter, more meaningful way. Additionally, Loyalie also assists with mobile marketing campaigns, acts as CRM advisors, provides online advertising opportunities, platform for automated engagement and so on.
While large companies were well aware of the benefits of loyalty programs, SMEs were (still do) underestimating the power of loyalty. Nevertheless, Loyalie neutralized this challenge proposing innovative loyalty programs that would create tangible values for SMEs. With restaurants & pubs (which are the most frequently visited places by any customer) as its initial clients, Loyalie added spas and retail businesses to the list soon. As the company has firmly established its product in the market currently with a laudable customer base, it is moving on towards business that doesn\'t fall under any conventional sector. Loyalie\'s platform teams it with merchants from different industries creating a cross-industry field, which gives a greater exposure.
Friendly Environment with Adept Professionals
Though initially Akhil struggled a little to attract proficient talents in the yet-to-evolve Calcutta market, the situation negated itself as soon as he opened a branch in Bangalore where he filled his mid-management positions with seasonal professionals. While the mentorship of Arvind Agarwalla (CEO, Pact Solutions) guided him to build & market the product, the technical aspects were administered by a third party company that works for giant corporates.
Loyalie\'s unorthodoxly open offices have no hierarchy, cabins, rooms or even a separate CEO chair. \"There is a mutual support amidst all the 25 people within the office. Even if they have to report to some people, it would be to someone whom they consider as a friend. We strongly encourage communication within the organization,\" proclaims Akhil. The company have frequent team meetings to edify its people, especially whenever there\'s a new development in the office or new product is being launched. Loyalie dedicates one full month to train new joinees, so they will be crystal clear on every aspect of the system.
As the company has been receiving umpteen of inquiries from Hyderabad, it intends to setup a full time office there to fulfil those clients\' needs. Loyalie is excited for the launch of its ground-breaking product targeted towards sectors like real-estate, irrigation, ply and many more.
Akhil Saraf, CEO
After completing his graduation from St. Xavier\'s College, Akhil worked in a consultancy firm for four years where he realized that his skills were better suited elsewhere. Bootstrapped the company with the money he earned by playing with stock markets, Akhil gave up a promising tax consultant career to embark on this venture.
Offices: Calcutta (Headquarter) and Bangalore
Clients: Harley Davidson, Mahindra, Supreme Motors, Vespa, Happily Unmarried, Iosis, National Spa chain, Siddha Group, Skipper, Amul, Meat & Eat, and Greenply to name a few