How eMart Solution is changing the loyalty landscape in India
24 April, 2015
Today, eMart has Fobes 100 and Fortune 500 companies as their client and has so far serviced over 15 million users through various campaigns.
Founded in 2009 by Aditya Bahmidipaty and Srikanth Chunduri, eMart Solution deal in loyalty services programs in India and is poised to grow and expand aggressively, both, domestically and Internationally.
With an aim to change the loyalty landscape in India, FirstHive, eMart Solution' proprietary on demand SaaS based multi-channel technology platform, enables marketers and brand managers to hyper customize the engagement programs. The technology further enables marketers to understand the unique buying habits and technology platforms used by the customer to shop.
FirstHive captures user information from various consumer interaction touch points, both online and offline. "Our platform enables marketers with real-time world view on the entire campaign details, identifies unique consumer footprint and give marketers a funnel view to each unique customer in an ocean of data, irrespective of what channel they use to interact with their brand. Using FirstHive, the brand can offer a unified experience to the customer across all channels," says Aditya Bhamidipaty, Co-Founder and CEO, eMart Solution.
Today, eMart has Fobes 100 and Fortune 500 companies as their client and has so far serviced over 15 million users through various campaigns. "My pre-entrepreneurship experience in both London and India helped me gain a fair share of insight into the world of marketing. I observed that 40 per cent of a marketer's time was spent in managing relationships with existing partners or vendors," shares Bhamidipaty.
Bhamidipaty completed his engineering bachelors from JNTU and Post Graduate Diploma in Management from IIM-Ahmedabad. He began his career with Proctor and Gamble (P&G) and soon moved into a leadership role, where he was responsible for the Southern region. He also worked with iGate in London.
eMart Solution, due to its product proposition, received good responses from the Silicon Valley-based investors during the initial days. Like many other start-ups, Bhamidipaty faced many challenges, of which winning customers' trust was a key challenge. Other challenges were to establish eMart as a multi sector company and ensure that its technology is sector agnostic, while the service is sector relevant.
eMart Solution claim to be amongst the top five consumer engagement companies in India with current team of 150 across Bangalore, Mumbai and Delhi. eMart's planning to launch products that have a global appeal and its services are intended to strengthen their India base.
The customer loyalty industry in India is increasingly getting heated up with multitude of loyalty programs, but the long-term success of any loyalty program depends on how well the programme engages the finer sensibilities of the customer. Bhamidipaty stated that the current size of the loyalty industry in India is valued at Rs 15,000 crore and is poised to double in the next 2-3 years.
Although nascent, Indian loyalty programmes are already reaching beyond the discounts and coupons game. As loyalty becomes a crucial differentiator in the era of intense competition, it is expected that the companies will increasingly adopt international best practices for gaining insights of customer behavior – what works and what does not. Today, brand messaging through the use of technology and social platforms has become very crucial for customer-facing organizations across functions and layers.
During the first year of inception,eMart Solution managed to get the first Fortune 500 client on board and by the second year it had made its presence across three sectors. Today, the firm works with some of the largest Indian companies, across 12 different sectors including FMCG, CPD, BFSI and Pharma.
Some of the recognitions which eMart Solution has earned include Red Herring Top 100 Asia Award 2014 and 'Best Use of Gamification to Enhance Loyalty' Award for its program 'Bandhan' at the 8th Loyalty Awards 2015.
eMart has grown at a CAGR of 88 per cent in the last five years. When asked about the revenue shares, Bhamidipaty says, "We won't be able to share revenue numbers, but typically, each client gives us between $100K to $2 million. Our revenue comes from product licensing and services. We impact businesses worth Rs 10,000 crore ($2 billion) in the market today."
As a part of the growth and expansion strategy, eMart Solution intends to take FirstHive to the global grounds and plans to tap Middle Eastern and APAC markets in the coming years. Besides, the start-up also intends to come up with a self-service platform for SMEs.
CEO and Co-founder, eMart Solutions