How Dhruv is solving the problem of customer retention through Hashtag Loyalty

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With scrupulous exactitude, we have covered some amazing interviews of some unflinching entrepreneurs in our previous write-ups. We say this with industriousness that today, we bring to your knowledge the success story of Dhruv Dewan, who is the founder of Hashtag Loyalty and who has borne witness to the significant vicissitudes of life. In many moments of reckoning, Dhruv Dewan shared his thoughts about his journey which included walking through the hallow portals of entrepreneurship. Caught in a whirlpool of emotions, Dhruv had a soul searching conversation with MyVenture. Echoing different prisms of thought, Dhruv inculcated superhuman strength of mind and a refusal to embrace defeat.

About Hashtag Loyalty

Hashtag Loyalty is a young company providing a tablet-based digital loyalty solution. Hashtag Loyalty gives businesses a complete marketing suite with customer retention as well as acquisition tools.

Hastag_Loyalty

Dhruv enunciated, “We are enabling small and medium sized businesses with affordable technology to make informed decisions. The rewards program is customized to each business to reflect its brand identity and culture, and the gamified and visual platform ensures repeat visits. Our product allows businesses to understand their customers, track their customer activity and stay connected with them once they leave the outlet.

For customers, we provide a single platform to manage their Loyalty memberships, to discover new places and to stay connected with the businesses. Customers can use either the Hashtag Loyalty card or the mobile application to earn points at any of our partner locations. Customers have never had the option or access to one card or application to get rewarded at all their favorite places.  The technology has been designed keeping consumer experience in mind and hence we have created a very simplistic and engaging experience for our customers.”

Exordium

Dhruv’s ability to guide his entrepreneurial thoughts depends on his power of precise observation. His ability to take the first step played an instrumental role in settling the unsettling thoughts. Talking about the genesis of his most prized venture, Dhruv said, “We are here because we saw a need, a need to make loyalty easily accessible to every customer and readily available to every business. We saw a significant gap in the loyalty space when we looked at traditional loyalty setups and how cumbersome they were. Having one platform to manage all your loyalty needs helps de-clutter the wallet and makes a simplistic experience for the customers. With One Card / One App and one-time registration to access loyalty programs over 115 locations, the entire customer experience is simplified.

Over the last 5-10 years, due to globalization, what we are experiencing is a rapid depersonalization in the way businesses work. There are thousands of businesses catering to millions of customers but the businesses don’t know who these customers are. In this day and age where customers have multiple options available for their each and every need – viable businesses cannot afford to not know their customers. This is where the need for smart data arises for SMBs. Hashtag Loyalty provided the most optimal platform to help businesses solve this need.

Our focus since the day one has been to help create strong associations between businesses and their customers. Through personalized programs for each business, we help bring their brand identity and culture and help foster relationships between them and their customers. We strongly believe that these associations are what will keep customers coming back. Through an engaging platform that we provide and a range of experiential rewards, we want to help revolutionize the customer experience and create memories that these customers shall cherish!”

Suggested Read: How to win a customer in 5 seconds

Solutions to Industry problems

Dhruv is so talented a leader and so capable an entrepreneur that he expressed his upfront views on what industry related issues his venture solves.  Elucidating his standpoints, Dhruv thundered,

Problem: Customers don’t want to be part of multiple loyalty programs because it’s a very cumbersome process – Multiple Registrations, Multiple Cards/Apps, No way to track their multiple programs. Customers are completely unaware of the points that they have, what they can redeem and businesses they frequent. The entire process is very tedious for the customers.

Solution: 1 Card/1 App everywhere you go! Customers can use one Hashtag Loyalty card or app at any of our partner locations by signing up just once (simply by entering email on in-store tablet). By de-cluttering and simplifying this process we have made it very convenient for the customers. Given that we are a tablet based digital loyalty solution, each partner location is provided with an in-store tablet running the Hashtag Loyalty application. Customers directly interact with the tablet to accumulate, redeem points and check where they are at that point of time. Additionally, the customer mobile app allows them to view all #Loyalty partner locations, offers available at these locations and their loyalty program status of each location, everything at a click of a button.

 

Target Audiences

The spotlight now moved on to the subject of target audiences. Dhruv mused, “Since we have both B2B & B2C model, our target market is split into two groups.

At one end, are the SMBs to whom we directly sell our products as a monthly service. While our current focus has been on the F&B, Salon & Spa and Fitness Industries, we plan to enter the retail market too.

At the other end, we have the end customers who use our product on a day to day business at our partner locations. Our primary target audiences are the working professionals (Ages 21 – 40) who have disposable income and get out a lot, in-fact this segment covers more than 65% of our total user base. Partnering with brands like Brijwasi Sweets has opened up an entire new market for us, with more than 10% of our customer base currently between the ages of 35 – 70. The physical card has been pivotal for us to attract this clientele in recent times.

Over the last 7 months, we’ve received a fantastic response from both these target groups. Currently we are live at 115 outlets. We have a network of 24,000+ Customers who have visited our partner locations 80,000+ times.”

Team Hashtag Loyalty

A dedicated team will enhance the beauty of entrepreneurship. Want to know about the resolute brains who are part of this venture? Here is a quick run-down of the same:

Dhruv Dewan- Founder

Prior to Hashtag Loyalty, Dhruv worked with Ernst & Young in the IT Risk department on projects associated with Financial Services industry. Dhruv received his Bachelor’s Degree in Information Technology from DJ Sanghvi College of Engineering at Mumbai University.

Karan Chechani- Cofounder

Prior to Hashtag Loyalty, Karan was worked with Teach for India in the Strategy Initiatives department. Karan’s experience prior to this includes a brief stint at Godrej & Boyce and an internship at Larsen & Toubro. Karan received his Bachelor’s Degree in Industrial Engineering from DJ Sanghvi College of Engineering at Mumbai University.

Krishi Fagwani- Cofounder

Prior to Hashtag Loyalty, Krishi worked with Ernst & Young in the IT Risk department on projects associated with Financial Services industry. Krishi’s experience prior to this includes time at Cisco Systems, internships at Accenture and Atlas Copco. Krishi has received Bachelor’s Degree in Mechanical Engineering from the University of Illinois at Urbana-Champaign.

Other members

  • Vibhoo Mishra -Technology
  • Nitesh Mishra -Technology
  • Avani Ashar – Business Development
  • Geet Shahani- Business Development
  • Rohan Moona- Marketing

Mission and Vision

Mission and vision are two entities that generally from the warp of all entrepreneurial narratives. These two entities form a major chunk of any venture’s ponderous prose. Hashtag loyalty’s mission is to help small and medium sized businesses unlock the power of data, email, social and mobile marketing. Its vision is to break down the concept of “customer loyalty” to its simplest parts: a business and its customers.

Advice to Entrepreneurs

If one fails to pay attention to the advice of successful entrepreneurs, one’s venture turns out to be a dud. Nothing can be closer to the truth. Curious about what Dhruv said, here is an excerpt –“My journey has been full of riddles but solving each riddle has not only been a great learning curve but the entire experience has taught me more than what I had imagined. Keep innovating, don’t be scared of challenges. Try and create solutions for practical circumstances rather than creating solutions according to ideal conditions. Passion never fails!”

Also Read: Top 15 Inspiring Startup quotes from Entrepreneurs that will fill you with motivation

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Team MV is a team of young professionals who live in startups ! MyVenture.in a platform covering the real life stories of young budding entrepreneurs.

Team MV

Team MV is a team of young professionals who live in startups ! MyVenture.in a platform covering the real life stories of young budding entrepreneurs.

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