The Hindu Business Line : Loyalty Solutions eyeing foray into B2B space

Bangalore, June 1 Loyalty Solutions & Research Ltd, which runs i-mint, the country’s first multi-partner loyalty rewards programme is looking at entering the B2B space for its next phase of growth.

“In the next two-three years, we’ll be looking beyond pure consumer shopping activity to run our incentivisation programmes,” said Mr Vijay Bobba, CEO, LSRL.

He said that active discussions were going on in the areas of channel management, where dealers would be incentivised to sell a company’s products.

“We’re expecting two-three large deals to come through this year,” according to Mr Bobba.

Pilot project

The company has already run a pilot for a financial services firm where agents were incentivised to sell personal loans. LSRL has also tied up with a leading consumer electronics company and a bakery to issue 150,000 i-mint cards to customers of each of these companies.

i-mint has currently tied up with more than 3,000 partners and merchants across 22 cities and has issued 8,000 membership cards.

The target for the year is to take the number of partners to 4,000 and be present in 10 more cities. LSRL works on a revenue-sharing model with partners, earning about 0.25 per cent or more of the transaction value.

The total transaction amount as of March 2008 was around Rs 4,500 crore and the average spend per member was Rs 4,400 per month.

The company has so far invested Rs 20 crore in the venture and is looking for external investment this year, Mr Bobba said.

More Stories on : Channels and Franchises

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Tokens for ‘vegetables in van’

Celebrating the arrival of Cricket’s big league

Radisson Hotel package

Loyalty Solutions eyeing foray into B2B space

Reebok sets store by women

R-Com launches coin box PCO