Founded in 2006, Loylty Rewardz offers services in all activities related to the development and management of consumer loyalty, data intelligence and direct marketing communication. Speaking exclusively to IndiaRetailing, Bijaei Jayaraj, founder & chief executive officer of Loylty Rewardz Mngt Pvt Ltd, talks about the complexities involved in developing a loyalty programme. Excerpts:
What is the core business model of Loylty Rewardz?
Loylty Rewardz was founded in 2006. It is India’s premier loyalty and rewards management company. Backed by strong investors like Argonaut Private and Ventureast, Loylty Rewardz is a firm that focuses on preparation and delivery of loyalty programmes that create profitability for its clients.
Our tight-knit network brings together data intelligence, data analytics, creative services, web development, rewards processing technology, rewards procurement, and direct marketing for loyalty programmes of various organisations.
Please tell us about your clientèle?
Loylty Rewardz boasts of clients such as State Bank of India, Standard Chartered Bank, Deutsche Bank and Citibank, among others. We are currently running the world’s largest debit card loyalty programme – Freedom Rewardz – for SBI customers. Under the programme, customers visiting stores such as Provogue, John Players, The Mobile Store and Levi’s, among many others, get ‘points’ for purchases made using the SBI debit card. These ‘points’ can later be redeemed at select stores.
Do you keep a track of the customer database?
No. SBI, for example, has a very stringent control over the customer data; we refuse to take any data from any bank or any other client which is financial in nature. We directly deal with our clients and have no connection with their customers.
How important is technology to have a seamless operation in context of loyalty programmes? What is LIDsys programme?
Loylty Rewardz has developed a state-of-the-art customer relationship and loyalty management platform called LIDSys – Loyalty & Intelligence Development System.
With stability, scalability and versatility as its core features, LIDSys is designed to
meet the customer’s complete CRM requirements.
The LIDSys platform is open-sourced in ‘nature’, so as to be able to plug and play with almost any type of loyalty platform across industries. The modular architecture has been stress-tested severely and has performed exceptionally well under heavy traffic conditions.
Is Loylty Rewardz looking at brand extension?
No, we are looking at consolidating our position. We want to focus only on our current business model and take it forward. The USP of our business model is that it is an amalgamation of single-brand loyalty programmes. As we have ownership of the programme, it is on us how we want to take it forward. At the same time, we bring the power of the coalition programme by bringing in a lot of other retailers.
How do you see the future of the coalition loyalty programme in India? What role would Loylty Rewardz have in its growth?
Given the fact that the coalition loyalty card market is in a nascent stage and we are one of the early entrants in this space, we believe we will grow with the industry. The loyalty programme is a prosperous industry in many Western countries and with the kind of economic growth India is witnessing, we are sure the coalition loyalty programme market will make its presence felt in the country.
