Launched in 2017, Reelo is solving the trouble of consumer retention, acquisition and engagement for SMBs
Reelo has a presence in over 24 towns with over 1,six hundred agencies and tasty over 3Mn users
It is running toward reaching 8K companies and 10Mn users via give up of December 2020
While on our six-town excursion of the Tier 2 startup atmosphere with BIGShift, we observed several promising startups. This series will cowl a number of the most modern startups. From this collection is a startup from Ahmedabad, Reelo this is supporting offline groups in the united states of america with its SaaS approach to gather, retain and engage with the clients.
In Ahmedabad, the sons of a small retail business owner have been afflicted by how fickle their father’s enterprise changed into—relying because it did on the whims of the customers. Although the goods had been well obtained, their father, like many different marketers, wouldn’t know while the following client could come into the store, or what it will take to convey them back. Realising that this is not an remoted case however as an alternative a huge problem to be solved, Parin and Prit Sanghvi decided to make a difference, and thereby additionally put their enterprise acumen to the take a look at. And as a result got here Reelo.
“There are over 14 Mn small and medium agencies (SMBs) and MSMEs in India who are still unorganized and run historically. The customer experiences at these groups have now not changed for decades. They don’t understand who you're while you walk into the shop and don't have any ways of inviting you back. Basically, business is left as much as chance maximum of the time,” – Parin Sanghvi, founder, Reelo.
Reelo gives a simple and affordable option to the trouble of constructing purchaser focus around retail products. The brothers set up Reelo in 2017 — recalling the preliminary days, Parin informed CFT, “We realised that we ought to use tech to help solve the problem for these kind of SMB outlets and upload price to hundreds of thousands of retailers in India.”
Not best is Reelo supporting organizations create customised digital loyalty programmes, but also speak and construct a two-manner consumer-to-brand courting. “Our crew facilitates the merchant in putting in place customer-orientated rewards after they accomplice with our loyalty programme. They can pick from a spread of options, primarily based on their necessities and the applicable goal marketplace,” Parin advised CFT.
Discovered at some point of the Ahmedabad leg of the six-metropolis CFT BIGShift excursion, Reelo has grown from a boutique business enterprise which started in Ahmedabad with around 70 groups to now having a presence in 24 towns. “We have over 1,six hundred organizations the usage of our platform and have engaged over 3Mn customers,” Parin instructed CFT.
How Reelo Is Getting Customers To Return
Deviating from the extra not unusual ‘shared loyalty programmes’ wherein brands join collectively in a partnership and provide rewards beneath one commonplace branding, Reelo focusses on every client in my opinion and as in step with its audience.
“We have built a platform and app to run loyalty advertising programmes and buying analytics for SMBs. What started out out as a primary rewards and loyalty programme, has now grown into a bigger marketing and analytics platform over the last year,” Parin pointed out.
Utilising the strength of large facts, predictive analytics and cloud-based totally advertising automation for customization, Reelo also claims to have made offline transactions as customized as they're on line with their low-tech software platform on the service provider point of sale or PoS.
These insights help Reelo ship highly centered campaigns to purchasers with the aim of keeping their commercial enterprise and measure the returns on advertising investments. “We now not simplest solve the need to boom continuous footfalls however additionally reveal elaborate regions and thereafter provide powerful answers to rectify the identical, all at the fingertips of the service provider in single clicks,” stated Parin.
With Reelo, stores are able to perceive and music client behaviour including spending energy and purchase behaviours, to be able to serve them higher when they step into the premises. By figuring out their dependable clients, traders can run unique campaigns focussed on each increasing their price tag size and feature a consistent engagement to make clients sense extra valued.
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“Think of it because the physical equivalent of the personalisation you've got while you, as an example, visit Amazon.Com as a logged-in person. Reelo is that regular effective link of verbal exchange among the service provider and the customer,” says Parin.
A B2B2C SaaS platform, Reelo works with offline agencies throughout industries. Its key manufacturers consist of names such as Jawed Habib, Bikanerwala, Gwalia Sweets, Ferns N Petals, La Pinos and more.
The options available to Reelo customers consist of tier-primarily based rewards primarily based on special milestones, spend-primarily based rewards on the entire lifetime expenditure, cashbacks and custom rewards. With a devoted purchaser success crew running closely with the business proprietors and their advertising group, Reelo ensures that the programme is applied nicely and there may be no final-mile mission. This team additionally comes up with strategies to ensure every customer receives the most ROI (go back on funding) to preserve their business. Further to that, each business can see the ROI received from Reelo on their dashboard.
“Some essential metrics we use to gauge fulfillment is the proportion of enrolments of our customer’s actual transactions, overall praise redemptions, range of misplaced clients gained returned, the extra sales generated on each redemption, range of new customers acquired through in-app offers and extra,” Parin explained.
The startup claims that until now it has successfully helped companies generate 10X to 1000X ROI through its platform. “We have enabled manufacturers to increase their advertising and marketing marketing campaign conversions to current clients through over one hundred fifty% and helped them win back approximately 25% of their misplaced customers,” stated Parin, adding that depending on the dimensions of the commercial enterprise, Reelo can display the sales generated via its platform for every commercial enterprise.
Getting SMBs To Care About Loyalty
“Majority of our customers are traditional, family run-companies who aren't aware of the strength of data and tech. The most a success manner to get get entry to to them is to get in front of them with an instantaneous sales force. About 60% of Reelo’s general staff nowadays contains income employees,” Parin informed CFT while requested about the challenges.
One of the most important challenges for the startup in the initial levels changed into to educate the enterprise proprietors, the significance of facts-driven advertising generation for their commercial enterprise. “Prit and I acquired the first 80 to a hundred customers in Ahmedabad and Baroda ourselves. We had confined assets and we did the whole thing from sales, customer servicing, advertising, designing and constructing the product to handing over print materials and training the group of workers,” Parin recalled.
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During this segment, the duo met many enterprise owners, clients and extra to recognize their necessities and pain factors. With a user-centric design, Reelo constantly makes iterations in its offerings and products primarily based on the feedback it gathers from its customers.
Its subsequent major task became constructing the proper group. Currently a team of 75 humans, Parin advised CFT that dealing with human capital is an ongoing task for the startup, but it's far one which facilitates it evolve and develop. “After all, an company is most effective as true as the folks that make it paintings,” he delivered.
Relying at the subscription rate, renewals and more for revenue, Reelo is focused on a 50% year-on-year growth this economic 12 months. In addition to that, it plans to enlarge its tech offerings inside the subsequent 18 months, to a set of products for offline organizations, including an AI-powered marketing assistant and a social engagement platform.
“We are extra focussed on building our commercial enterprise in India presently and are operating towards penetrating deeper into present cities to attain 8K businesses and 10Mn users by way of the stop of December 2020.”