In a world where ‘data is the new oil’, the race to harness its insights to enhance customer experiences, has never been more urgent.
While customer experience encompasses a wide range of interactions, there’s a fine line between meaningful engagement and overwhelming a customer, particularly regarding customer relationship management programs (CRM).
Navigating this delicate balance requires a deep understanding of customer behaviour and a thoughtful approach to engagement. Businesses must ensure that their communications are personalised, relevant, and respectful of customer preferences, all while maintaining a genuine connection. Achieving this level of precision in customer relationship management is no easy feat, especially as businesses scale and customer expectations evolve.
Bridging the customer engagement gap
Easyrewardz with a presence across sectors like retail, entertainment, BFSI, healthcare and food and beverage has successfully addressed this gap.
Its end-to-end (E2E) CX solutions for the business-to-customer (B2C) segment have revolutionised how merchants and customers engage with each other, ensuring both parties are delighted in the long run. “Our suite offers an inbuilt strategy roadmap from acquisition to retention that helps to cut through data silos, thereby delivering connected and consistent customer experiences”, said, Soumya Chatterjee, Co-founder & CEO, Easyrewardz.
Their all-in-one CRM solution Zence automates the complete life cycle of the customer, bringing sales, service, marketing and analytics together, to power the entire customer experience. It offers a single view of customers and connected experiences across various channels.
Expanding into diverse sectors
After being at the centre of several consumer-facing industries, the company ventured into BFSI. Unlike earlier, financial institutions and banks realise that CRM isn’t just a tool to attract new customers but also to build meaningful relationships with them. Moving beyond monetary transactions between banks and customers, new-age banking is all about encouraging profitable customer behaviour across products and channels, besides creating advocacy and acquisition opportunities for the bank. With Easyrewardz, banks can define point rates and stay connected with customers via data-led communication, and leverage the power of data to understand their impact.
The company is also big in the healthcare segment. “One of our biggest differentiators is the introduction of a CRM programme in healthcare in India—tapping into our in-depth understanding of the patient journey and eventually integrating it with its CRM solutions,” shared Chatterjee.
Easyrewardz focuses on creating a smooth patient experience by offering tailored communication, appointment reminders, personalised treatment plans, and benefits that enhance satisfaction. The CRM ensures requisite data security and compliance with healthcare standards.
Driving global growth and customer-centric solutions
Expanding beyond domestic markets, Zence CRM today operates in India, Southeast Asia, Europe, the Middle East and Africa (EMA).
“We are on track to reach $10 million in annual recurring revenue (ARR) and have achieved profitability as well. This shows our commitment to building a sustainable business model that delivers long-term value for our investors,” said Chatterjee.
Today, the brand’s foundational principles of customer engagement have served them well across industries. Values like Customer Democracy™ which translates to designing strategies on customer needs and business KPIs or its approach towards creating industry-specific solutions like the first CRM program in Indian healthcare with the ability to scale efficiently across verticals, has helped them strengthen their market positioning in India and globally.
“Our CRM solutions are highly adaptive and can achieve go-live within 30-60 days. These initiatives strengthen our market position and fuel rapid growth, enabling Easyrewardz to stay competitive while offering differentiated, future-ready solutions,” added Tejas Kadakia, Co-founder & Sales Director, Easyrewardz. He credits Easyrewardz’s growth to its expertise in leveraging existing relationships with global clients like Bata, Burger King, and Levi’s to enter new markets.
Overcoming challenges
However, their journey, like many others, was ridden with challenges. In the initial years, the vision of Easyrewardz was to have a portal where customers could collect easy points from flight bookings and redeem them for future travel.
In 2012, the end of Kingfisher Airlines hit them hard since flyers moved to Jet Airways with their program.
Around then, the Easyrewardz team met experts and gained insights on bridging the gap in the market by creating an API-based SaaS platform to create CRM programs for merchants. With the support of family and friends, the bootstrapped company raised close to $100 thousand and launched the first version of Zence.
In November 2019, the company raised $4 million from Flipkart in Series B. The team used these funds to extend their SaaS platform from loyalty to creating Zence. Companies can orchestrate a holistic CX strategy with the Zence CRM stack and nurture lifelong customer relationships.
Today, Easyrewardz is also a big player in the BFSI industry, with clients like RBL Bank, Kotak Bank, Bajaj Finserv and India Infoline Finance Limited (IIFL).
Expanding global footprint and leadership
Looking to the future, Easyrewardz is committed to expanding its footprint across new geographies and scaling its operations globally. The goal is to rapidly grow and establish itself as a global leader in CRM solutions market.
The company has been growing at 2x YoY for the past two years and expects to maintain this trend in the future.
“We aim to continue innovating, bringing cutting-edge technology, AI-driven personalisation, and seamless omnichannel integration to brands worldwide. As we grow, our focus will remain on creating meaningful, customer-centric solutions that drive value across industries, positioning Easyrewardz at the forefront of the global CRM market”, said Chatterjee.
Link: https://yourstory.com/2024/11/next-crm-frontier-easyrewardz-customer-first-future-vision
