Even before demonisation and the move to a cashless economy, there was a certain set of consumers who were looking for a more fruitful online shopping experience. Those, looking to save a buck and get more from their shopping are often students who form 30% of the Indian population- with India’s #1 coupon and deal website, PaisaWapas.com they’ve found just that.
Founded by IIT alumni, Shankar Kotuli and Ashish Kumar, “PaisaWapas.com brings exclusive offerings to students in terms of special deals and extra cashback. “ What has made their venture a success? “Customer loyalty and retention is the key to success for any business, when you keep your customer happy, they will automatically bring you more customers. For a start-up like ours SEO is also very important, the right SEO can do magic in your business. Our numbers confirm this, right now 90% our customer acquisition is either through SEO or through customer referrals. We have also focused on marketing in colleges by building our student partner network.”
As a technology startup, PaisaWapas.com is always looking to grow and improve their user experience through advancing their technology and through a close engagement with customers “We use advance analytical systems to collect and analyse customer behaviour data and recommend them right deals and products at right time. We work very closely with customers; listen to what they have to say about our service and product. We are delivering the Fastest Cashback Delivery service at our platform. Our users are able to redeem the cashback in 4-8 weeks of time and moreover, the cashback earned for the transactions based on bill payments and recharge is confirmed instantly. For expansion, we introduce exclusive deals for students, where they benefit in their online purchases and recommend our platform to others.”
For PaisaWapas.com, there customers have been their biggest mentors and the advice they given to budding entrepreneurs looking for success is simple “ You need to have clear vision and focus, fast execution and adaptability and great planning management . These three areas will enable you to prioritise and execute the right ideas, understand changing customer behavior and adapt accordingly and play close attention to financial and team planning”
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