Bangalore-based young entrepreneur Pooja Gupta started LetsWalk a few years back to address a major problem that many companies have to deal with. Quite often it happens that a person roams outside a particular store but doesn’t get in to check out the store’s offerings. In this process, many physical stores miss out on adding new customers to its customer base. The reason behind this low conversion rate is primarily because they fail to attract prospective customers walking by their stores. This is exactly where LetsWalk fits in. It’s platform that connects its users with stores according to their preferences. LetsWalk makes use of location-based services and acts as a liaison between the stores and their prospective customers.
In this interview session with conflatingVisions, Pooja Gupta, the founder of LetsWalk, joins us to share their story.
Hi Pooja, welcome to this interview session of conflatingVisions. To start with, we would request you to say a few lines about yourself.
Hi, I am Pooja Gupta, the founder and director of LetsWalk. I have a knack for unconventional solution with high productivity. I have done my Masters degree in Management which creates a perfect spiral of analytics and social skills. Furthermore, I am a strong believer in the primitive knowledge breeds. Success and intelligence are my acquired skills. With a tremendous experience in the field of sales, I foster a desire to make mountains out of bare sand in the area of sales!
Please tell us about LetsWalk.
LetsWalk is based on a logic which enables us to locate a user within the range of 10-20 metres. The information can be used for location-based marketing and as a two-way communication lots of analytics can run around it for large shopping malls and similar captives. It’s an automated system and we don’t have to put efforts in farming and it’s always better to keep a digital approach to acquire customers. When a customer walks into a store, the algorithm helps us to identify the presence of the user and we ask the merchants to reward a user for every walk-in. LetsWalk is an innovative company geared towards bringing mobility solutions for offline retailers while adding value to their businesses.
What is the working model of LetsWalk?
We have two apps, one for the merchants and another for the customers.
LetsWalk gives you a remarkably distinct shot at grabbing tempting offers and stunning discounts tailored exclusively for you. It’s a platform to connect you with that store you like or the food you relish or the place you adore to get you the best deals every day of every week so that you never miss a deal.
The fabulous reward range – From discounts, bonuses or the house gifts to multiplying rewards with the number of visits thus attained.
We are working towards bridging the gap between customers and merchants to develop meaningful relationships through our carefully managed network.
At LetsWalk, we are tapping customer loyalty and transforming it into a whole new experience because we highly value your loyalty and it’s about time to make it count for something.
Our main focus is to make potential merchants and customers aware of our business and let them know about our unique idea where a customer is awarded for walk-in with complimentary merchants don’t have to do anything. Everything is done automatically through app only. This is what no one else is doing. Hence, our only concern is to reach out to all the merchants and customers and get them on-boarded.
Pooja, what motivated you to start working on LetsWalk?
The problems I faced while using a loyalty card and the merchants who often get irritated while providing the loyalty award motivated me to start working on LetsWalk.
Problems of Customers:
Hard to remember loyalty points.
Most of the discovery platform gives unauthentic paid reviews.
A loyal customer needs to prove his loyalty by using the card/phone number.
No platform which rewards a user for their visit.
Problems of Merchants:
75% of the customer walks “by” the store.
50% of the capacity remains unutilized.
Huge Capital Expenditure in building own loyalty platform.
No method to track a user’s behavior.
Most discovery platforms are customer centric.
Traditional advertising/loyalty systems kill the user experience.
Blindfolded business, a retailer can’t see a nearby customer. Hence can’t curate offer to attract more business.
How do you go about building a successful user and merchant base for LetsWalk?
Now, I am onboarding merchants as well as customers through mouth pitching, promoting LetsWalk in social media and colleges.
How big is your current team?
Currently, the team has 4 members:
Pooja – I am the founder of LetsWalk and I take care of sales and marketing.
Abhijit – Recently joined us. Abhijit helps us in building strategic alliances.
Dinesh – Participates for customer acquisition.
Vivek – Our mentor and seed investor. Vivek helps us with his insights on the market and the vision of bringing disruptive technology into the market.
How has been the journey so far for LetsWalk?
Till now, the journey of LetsWalk has been through lots of twists and turns. There are many loyalty products in the market that have changed the meaning of loyalty platform. It was originally meant for an enterprise to run their own loyalty program for their customers. Now the trend has changed where enterprise expects customer from outside. They are not focused on retaining old users which cost to 70% instead bringing in new users which is just 30% in their GMV.
Though having difficulty explaining the true meaning of loyalty program, we have successfully on-boarded close to 40 retailers both in Bangalore and Pune. They are very happy with the user experience and their customers are enjoying the features!
What are the present challenges? How are you trying to overcome them?
Customer engagement is always a challenge for enterprises. One enterprise can see customers walking by the store, but they don’t have the solution to invite them inside their store. In this process, they lose out on a potential opportunity!
LetsWalk gives a platform for the enterprise to run their own loyalty program. LetsWalk’s patented technology allows enterprises to run their own customer engagement platform where they can offer automatic walk-ins to the user on every visit. Hence, also update enterprise for user loyalty pattern and improve data mining and analytics around.
And, customers just has to do nothing. They only need to walk-in and walkout. LetsWalk will do the rest.
What plans do you have to further scale up the growth of LetsWalk?
Currently, we are looking to expand our presence. But for now, we are only focusing on Bangalore as our prime location. By the end of 2017, we are targeting to onboard around 10,000 retailers on our platform and around 50,000 users enjoying loyalty experience.
In addition to the expansion plans, we are also actively looking to raise funds which will help us accelerate our traction and presence.