A Unique Social Commerce
E-Commerce in India does not a potential market of 1.4 billion users but it is relevant to only about 8% of India who are regular transactors or 4 more percent that is occasional ones.
In this intense competitive battle, it becomes imperative to retain a customer but at what cost? At the cost of burning entire profits? Or spending in terms of promotions and offers just to make him stay?
With Community Cashback Program, you can create a retention strategy that will ensure that a user not just stays with you but also spends much much more than you would expect him to.
Shareakart Services Private Limited presents Cashmykart Community Cashback Program which ensures a lower CAC while returning 40 times the CLV that too in just first 18 months.
Under Cashmykart Community Cashback Program, a social commerce model, a user makes a purchase and creates his community by referring his friends, family & colleagues to earn rewards up to ₹1.2 Lacs and Cash up to ₹3.4 Lacs over 18 months, the validity period of the program.
Cost to a brand is only a standard fee on New Customer Acquisition and a percentage of sale.
4 Steps to unimaginable cashback every month!
When you make a purchase, all you need to do is refer your friends, family, colleagues and neighbors who you think will benefit from your experience of purchase. And that is enough to get you monthly cashback!
THE GROWTH STORY
- Ecommerce / Internet based Sales have been growing at a very rapid pace in India and with just about 6% share of entire retail, has a big potential to grow further.
- Increased number of online retailers have been wooing customers with great deals and convenience of services like Exchange, Return, Cash On Delivery etc.
Ecom market is big and holds lot of future potential
CHALLENGES
- Customer Acquisition costs have increased due to stiff competition – about 60% higher than earlier
- Though India has 1.42 billion people, Only about 220 million people are Indian Online Shoppers, so the actual market is much narrower than it looks
- Out of all Online Shoppers, only about 120 million are regular transactors and 100 million are occasional transactors making it harder to achieve Customer Lifetime Value (CLV)
In a very narrow market, everyone is running for customer’s mindshare & walletshare
EFFORTS
- Rewards & Loyalty are the two major programs that help in reducing Customer Acquisition Cost (CAC) and Customer Lifetime Value (CLV).
- Digital Marketing helps in targeting audience more precisely
These efforts do help but comes at a high cost of implementation & execution
NEED OF THE HOUR
- A system of growth that retains the customer while making all transactions profitable.
- A system of growth that brings in new users at much lower acquisition cost than prevalent today.
- A system that empowers the brands along with consumers at the same time.
Presenting Shareakart Community Cashback Program (SCCP)
WHAT IS SHAREAKART COMMUNITY CASHBACK PROGRAM (SCCP)?
- A simple program that creates unmatched value to both brands and consumers.
- A system that leverages practice of social commerce.
- A marketing plan that helps in creating loyal customer base through rewards & referrals
A simple program to create value from the very basic actions of consumerism.
How can SCCP reduce CAC and increase CLV?
- A user makes a Minimum Value Purchase (MVP)
- Post MVP, develops community by making referrals. At this point a Loyalty Bonus (Reward Points) is offered.
- When any referral makes MVP the user gets Cashback (Reward Points + Cash Points)
- Any referrals made further gets added to the user’s community and any purchase within this community will fetch Cashback (Reward Points + Cash Points)
- Every Calendar month’s last day the cashback is activated and user can redeem Reward Point against further purchases and Cash Points against cash in account/wallet
- There is limit to the Maximum Monthly Cashback a user can generate.
- The overall gratification for a consumer under this program can reach up to ₹1,00,000 of Reward Points and up to ₹3,50,000 of Cash Points
Larger claims often feel resistance but exponential nature of growth ensures benefits for all.
What is at stake for Consumer?
- This is a renewable promotional program with a validity of 18 Months
- It requires a user to complete the following:
- Makes an MVP in single purchase or Multiple purchases within 3 months
- Refer minimum of 3/5 people with their Name, Number & Email IDs
- Make a repeat purchase worth half of MVP within first six months and then make similar repeat purchases every 3 months.
Simple solutions with moderate growth to create a gigantic universe of loyal customers.