Samco, a discount stock broker in India uses Xoxoday to drive growth for its referral program

Challenges

As a leading financial services company dedicated to empowering investors and traders, Samco Securities faced several challenges in managing their referral program effectively:

‍

Manual distribution of gift vouchers to clients via email and SMS was time-consuming and inefficient.
Offering conditional brand vouchers limited the appeal and flexibility of the rewards program.
Tracking redemption rates and monitoring program performance was difficult without an automated system.
Ensuring a seamless customer experience throughout the referral process was challenging.

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Growmark is an agricultural cooperative that provides fuels, lubricants, crop nutrients, crop protection products, seeds, construction services, equipment, and grain marketing assistance to cooperatives, retailers, businesses, and customers in the U.S. and Canada.

Since integrating Xoxo Day into our customer referral program, we've seen remarkable improvements, notably a 51% uplift in revenue rates and a significant 2% increase in lead acquisitions on Samco Securities. Additionally, there's been 26% improvement in KYC conversion after collaborating with Xoxo Day. 

Mr. Ajay Dusane

Chief Growth Officer, Samco Securities Ltd

Challenges

As a leading financial services company dedicated to empowering investors and traders, Samco Securities faced several challenges in managing their referral program effectively:

‍

Manual distribution of gift vouchers to clients via email and SMS was time-consuming and inefficient.
Offering conditional brand vouchers limited the appeal and flexibility of the rewards program.
Tracking redemption rates and monitoring program performance was difficult without an automated system.
Ensuring a seamless customer experience throughout the referral process was challenging.

Samco, a discount stock broker in India uses Xoxoday to drive growth for its referral program

By implementing Xoxoday's solution, Samco Securities experienced significant improvements in various key metrics, resulting in substantial returns on investment

51%

Uplift in revenue rates

2%

Increase in lead acquisitions

26%

Improvement in KYC conversion

Mr. Ajay Dusane

Chief Growth Officer, Samco Securities Ltd

51%

Uplift in revenue rates

2%

Increase in lead acquisitions

26%

Improvement in KYC conversion

About

Samco

Samco Securities is a discount stock broker in India that uses technology and is registered with major stock and commodity exchanges like BSE, NSE, MCX, MCX-SX, and NCDEX. Samco helps every stock market participant consistently beat the market and achieve their best financial performance.

Industry:

ITeS / SaaS / Startups

Region:

India

Use case:

Referral Rewards

Features used:

Xoxo Reward link, Gift Cards, Reward Marketplace, campaign management, reporting and analytics

Mr. Ajay Dusane

Chief Growth Officer, Samco Securities Ltd

Challenges

As a leading financial services company dedicated to empowering investors and traders, Samco Securities faced several challenges in managing their referral program effectively:

‍

Manual distribution of gift vouchers to clients via email and SMS was time-consuming and inefficient.
Offering conditional brand vouchers limited the appeal and flexibility of the rewards program.
Tracking redemption rates and monitoring program performance was difficult without an automated system.
Ensuring a seamless customer experience throughout the referral process was challenging.

Solution

To streamline their referral program and enhance customer satisfaction, Samco Securities partnered with Xoxoday:

‍

Automated the entire referral process, including link distribution and voucher issuance, saving time and improving efficiency.
Transitioned to offering unconditional brand vouchers from popular retailers like Amazon, Flipkart, and Myntra, increasing the appeal and value of rewards.
Utilized Xoxoday's campaign management tools to create and monitor referral campaigns effectively.
Gained access to detailed reporting and analytics, enabling better tracking of redemption rates and program performance.

ROI Generated

By implementing Xoxoday's solution, Samco Securities experienced significant improvements in various key metrics, resulting in substantial returns on investment:

‍

Lead acquisition increased by 2%, driving business growth and expanding the customer base.
Conversion ratio from leads to KYC (Know Your Customer) for referrals improved by an impressive 26%, enhancing the program's effectiveness.
Referral revenue growth soared from 23% to 29%, a remarkable 51% uplift in revenue rates.
Voucher redemption rates surged from 74% to 87%, marking an 18% growth and indicating increased customer engagement and satisfaction.

Samco, a discount stock broker in India uses Xoxoday to drive growth for its referral program

Challenges

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