We spoke to Amit Sharma, the brain behind ‘Vouchersmate’, to understand his sentiments about the e-com scenario and how his venture was geared to make the most of this climate. Amit is a computer-science engineer and an ex-Captain in the Indian Army.
E-commerce ventures are under increasing strain in India as the payment models adversely affect a business’s working capital management. Do you face this problem too?
Not really, as our business revenue model allows us the cushion to run the payment models with the customer pull-effect i.e. customers are keen to buy our products rather us pushing our products to customers.
What have been your major challenges in starting Vouchersmate? And what type of challenges you still encounter now that your gifting portal is up and running?
Logistics and supply chain are still in pretty dormant stage in India and need major overhaul to streamline the operations which could result in smoother and faster operations. Big brands are averse to new ideas with a full bureaucratic style of layered functioning thereby defeating the innovation model of success.
What has been your strategy for Customer Satisfaction?
We pride ourselves in having a post-sales process with extremely close communication with our customers throughout the process right from placement of order to delivery of goods. Hence we enjoy a very high brand loyalty.
What has been your strategy to increase customer base?
Customer loyalty and word-of-mouth marketing from our customers does the trick.
With more and more gift portals mushrooming online, what are your plans to reach out to your target audience? Gifting is an extremely performance-based market with a tremendously high referral rate. Due to our excellent service to our customers, we stand out among the competition. We bring this freshness of approach to the market. How do you perceive the competition in this arena in the days ahead? The biggest need of the hour is innovation that can smoothen the delivery process. Players having an efficient delivery system in place will give a tough competition to the others. How have you managed the funding? We have managed it on our own. We did not have to source it externally. What according to you are the top 3 skills needed to be a successful entrepreneur? • Patience to wait and Persistence to deliver the same high quality to your customers all the time. • Hands on approach to understand every core process to be able to streamline them for scalability and efficiency. • I think that innovation and vision goes hand in hand. So if your approach towards the market has a vision based on product innovation you are bound to succeed. Want to know more about this success story, follow us on http://www.vouchersmate.com/ ********************