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In a time when rising customer expectations have forced businesses to think on their feet and expand their services beyond the traditional shopping experience, a platform that can drive loyalty programs for consumers is a must for every business. To exploit this idea into a successful startup, Jeevan Chowdary and Harshit Harchani launched Froogal in 2017.
Froogal mainly operates in SaaS, more specifically - Customer Experience, Customer Loyalty, Marketing automation, Customer Experience, CRM & Data Analytics, Automation, Marketing, Digital Transformation, Feedback Management, Business Intelligence tools. StartupTalky interviewed Froogal CEO Jeevan Chowdary to get a better understanding of this Hyderabad based startup.
Froogal - Company Highlights
| Startup Name | Froogal |
|---|---|
| Headquarter | Hyderabad |
| Sector | Customer Loyalty, SaaS |
| Founders | Jeevan Chowdary (CEO),Harshit Harchani (CTO) |
| Founded | 2017 |
| Parent Organization | Froogal Innovations INC |
| Website | froogal.ai |
Froogal - About and How it Works
Froogal - USP
Froogal - Founders and Team
How was Froogal Started?
Froogal - Name and Logo
Froogal - Startup Launch
Froogal - Business Model and Revenue Model
Froogal - Startup Challenges
Froogal - Funding and Investors
Froogal - Growth
Froogal - FAQs
Froogal - Conclusion
Froogal - About and How it Works
Froogal is a Omni-channel cloud based Customer Loyalty & Engagement Platform and has been pioneer in delivering multiple consumer oriented Industries to build Customer Centricity by modernized and personalized interactions with Consumers to drive incremental Revenues.
Froogal is a customer loyalty programmed management platform, which provides customers with aspirational rewards that are customized and goes beyond traditional cash rewards.
Froogal's main range of products include:
- Customer Loyalty & Management.
- Customer Experience Management.
- Customer Analytics with predictive and data-driven Insights.
- Engagement Marketing with advanced automation techniques via SMS / Email / Push
- Notification and Social Media etc.
- Offer Engine with Mobile Marketing tools, Referral Marketing tools.
There are also a few more flagship products in the stream:
- Froogal Seamless- It helps businesses adapt to omni channel marketing strategy i.e. Creating an ecosystem for business to enhance their sales channels across web, mobile, etc.
- Froogal Consumer App- Froogal Consumer App is “World’s #1 Digital Loyalty Wallet”. It helps consumers digitize all their reward cards at one place, while it allows consumers to go cashless and with much other value
All in all, Froogal helps companies to develop loyalty programs that can drive repeat business as well as build a community of loyal brand advocates by building the bridge between brands and customers at every stage of the customer lifecycle. It drives revenue for brick and mortar businesses by collecting critical customer data, then using it to deliver automated, personalized marketing campaigns that drive real ROI. Froogal acts as an intelligent tool for a CXO business, automating most of the marketing needs.
Froogal focuses on knowing, retaining every customer and ensuring customer loyalty. The company offers a SaaS-based product in different packages like (Starter, Growth, Professional, and Enterprise) targeting the different sizes of customers across SMEs and Large Enterprises both.
Rishabh Rathi
Froogal - USP
Froogal works with the aim to help businesses and customers build a relation for life because it is not just important, but very important to understand the target audience in business and if a company does that right, it is on for a success treat. The basic idea is to address the pain points faced by millions of Brick-and-Mortar businesses across the globe and turn them successful. In other words, the motive is to help clients grow into an affluent firm with distinctive & considerable improvement in performance by retaining their customers.
Some major USP of Froogal are -
- Most Loyalty Programs target only mom-and-pop stores, but Froogal targets successfully both Mom-and-Pop and big Chains.
- Froogal has got More Advanced Loyalty Systems overcoming the traditional ways where the Strategy plays a key role in making it more contextual & emotional for the customer to retain and engage. It is one of its kind built with Artificial Intelligence and Machine Learning.
- Froogal took over the Omnichannel way at every module where Customers engage with Business and makes it seamless for customers to redeem rewards, complain and engage through any channel while
- Deeper Analysis & More Intelligent in Personalized Marketing- Froogal Consumer App (App that Digitizes One's Reward Cards at One Place)
- Froogal offers cost-effective packages for various businesses and helps businesses achieve higher ROI.
Chayanika Goswami
Froogal- Founders and Team
Jeevan Chowdary and Harshit Harchani are the Founders of Froogal
Froogal founders Jeevan Chowdary and Harshit Harchani are alumni of IIIT Hyderabad, and the idea to start their own business was there in their minds while they were still in college.
“We were working on a project for a while and when we graduated we decided to kick off our own product. My co-founder has been very supportive and the belief we have in each other and the same morale we share and our product has got us here today.” Jeevan quotes.
As regards division of responsibilities between the founders, Jeevan Chowdary is currently operating as the CEO of Froogal and takes care of the entire business operations, sales, and marketing.
Froogal CTO, Harshit Harchani takes care of the entire Technical development of the product.
Froogal currently has 50+ employees.
How was Froogal Started?
Customers are the inspiration here. While working on the very first project, during their college days, Jeevan and Harshit got a chance to work with a variety of stakeholders across many industries, especially small businesses. Both of them quickly realized that while different sectors of the market have different needs, no one, in particular, had focused on what would help small businesses flourish keeping in mind their limited operation management, lack of familiarity with technology, lack of access to expertise and marketing and most importantly budget. After talking to more than 500 such businesses they realized that they were not happy with the value of existing products and then at Froogal, they set upon this journey to provide the best value to businesses of various sizes, while working hand in hand with them at every point.
“From ideation to prototyping to customer endpoints we brainstormed solutions with our customers to enhance the value proposition, dig into real problems and develop a product which solved the real day to day problems they face with a minimal cost, along with which the rejection of dejection, and with perseverance, we showed in making it perfect and frugal for the business owners.” said Jeevan on the ideating stage of the venture.
Rishabh Rathi
Froogal - Name and Logo
Any businesses share the same end objective i.e., to generate greater revenues in a cost-effective way and delivering good customer experience and service. So is the name Froogal which is obtained from the word Frugal.
Froogal - Startup Launch
The first launch of the Froogal product happened with a customer. Once the team had the first Pilot deployment, they worked closely with them, wearing all hats to iron out all issues and proactively providing solutions to streamline the process. Since all the revenue stream is generated through subscriptions and no other strategy, experience for the customers is paramount and the team leaves no efforts to that end. They realize that the product and the experience they provide speaks for them and are happy to rely just on word of mouth for their promotions.
Froogal - Business Model and Revenue Model
Froogal follows a SaaS business model. It works on a monthly based subscription model, and its pricing ranges from 2500 per month - 15000 per month per location. Subscription charges varies based on the size and the business requirements along with other managed services for brick and mortar businesses, and also depending on the different models and segments.
Rishabh Rathi
Froogal - Startup Challenges
“Technology has been a passion for us. And necessity is the mother of Innovation.” Jeevan
While running their very first project, Jeevan and Harshit got a chance to meet a lot and different business owners from different industries especially in the SME segment. Every business certainly has problems in managing their operations or marketing due to lack of either technology, expertise or budgets. What intrigued this duo was that every business owner wants to excel in their own business at the low-cost model and they took that as a challenge and explored how technology can help drive revenues by simplifying and automating most of their needs at an affordable cost.
Froogal - Funding and Investors
Froogal has raised funding worth $ 1 million in pre-series A in December 2019. The information about the angel investors remains confidential.
Rishabh Rathi
Froogal - Growth
- Besides having offices in Hyderabad, Bangalore and Mumbai in India, Froogal also has an office in the USA.
- Froogal is currently serving 350+ clients, including brands like 'Cream stone', 'Thickshake Factory', 'BIG C', 'LOT', 'Over the moon', 'Pista house' and 'Biryanis and more'
Froogal - FAQs
What is Froogal?
Froogal is a customer loyalty programmed management platform, which provides customers with aspirational rewards that are customized and goes beyond traditional cash rewards.
Who are the Founders of Froogal?
Jeevan Chowdary and Harshit Harchani are the Founders of Froogal
How does Froogal make money?
Froogal follows a SaaS business model- It works on a monthly based subscription model, and its pricing ranges from 2500 per month - 15000 per month per location
How much Funding is raised by Froogal?
Froogal has raised funding worth $ 1 million in pre-series A in December 2019. The information about the angel investors remains confidential.
Froogal - Conclusion
Froogal offers a one stop solution platform that provides end to end technology to understand, retain and engage your customers through omni channel digital strategy, leading to deeper and data driven relationship with your customers. They have an expertise team focusing strongly on unique mix of Strategic Consulting, Creative, Operations support services driving you with actionable intelligence that can help drive incremental revenues and optimum profitability.
Author: Vidhi Punamiya
Source : https://startuptalky.com/froogal-success-story/
Date : 2021-04-19T11:30:00.000Z