Since our beginning redanar has been just about offers on cards. We developed our app so that people who shop using credit/debit cards don’t miss out on offers they are entitled to. Going was good but then after a while we started getting requests from our users to cover membership and loyalty card segment because there are deals on those cards as well. We did our research and found there are certain clubs which give amazing local deals to their members (yes, clubs too give out local deals so do check the same with your club). We thought a deal on (any) card is a deal so we jumped the gun and started adding loyalty/membership cards and kick started the process of covering deals given by membership clubs to their members. This is how from deals on credit & debit cards we expanded into the territories of membership & loyalty cards.
At the same time we thought it to be essential to do a thorough user analysis (one of the golden rule of business say you should constantly see what your users/clients are upto and try to understand their behavior). After running complex SQL queries we managed to generate a report of user behavior. Every metric indicated we were growing, but one thing caught our attention — the engagement metric.
For us the engagement metric is, on an average a user opens our app how many times in a day and views how many pages. Technically you can define it as average page views/user/day and average users/day. We found that the engagement metric was really high and increasing by the day.
The most common conclusion you can draw from this is that users (or consumers if you generalize it) want to save their hard-earned money in all possible ways and are constantly looking for deals around them. Thinking of it, it makes sense because this is what we as consumers do — constantly look for deals (on cards, off cards), so that we can save money. An old saying goes, a penny saved is a penny earned, so we must always try to save as much as possible.
Then we thought as consumers we too try to save money by using sales offers and shop a lot during end of season sales so why not leverage our technology and ability of managing content to expand into general offers category?
After asking this question to ourselves the first thought that popped up in our mind was, if we do general deal then we lose our niche. We started off as a company which helps consumers discover card based offers around them, so if we start covering general deals then we lose the niche we started off with.
When we were discussing this question internally, the team started listing pros and cons of listing general deals and breaking away from our niche. On the plus side, we can target a bigger audience. We can keep on covering card based offers but at the same time start adding general deals so that all consumers regardless of whether they have a credit/debit card or not can start using our app. Another plus is consumers will be able to discover all types of offers on redanar. We thought of an ideal scenario when all a customer has to do when he/she is going out for dinner or movie or shopping or is planning to travel or visit parlor, is, open redanar & discover places where he/she can save hard-earned money.
On the flip side, we lose our niche as card based offers and general offers will get mixed up. But then we thought we already have filter concept to filter deals so card based offers will not get lost in the pool of general offers!
So after an elaborate discussion spanning few days we all agreed we’ll only gain post adding general offers because our target audience will increase exponentially. By covering all types of deals virtually every Indian and everybody in the world is our customer! Never before we felt so good and hopeful about our app. We thought it certainly makes sense to not only focus on our original niche but also expand into other territories to grow our business (another golden rule of business states you must be always on a lookout for growth and should leave no stone unturned to grow your business).
Having come to a conclusion we pulled up our sleeves and started adding general offers. Though it is too early to say how it’ll come out, we are sure it’ll be good for business because it is good for consumers (another golden rule of business says customers always come first, so always provide best service & try to give as much as possible).
So if you are a consumer then download redanar & start discovering all types of offers around you and save your hard-earned money. If you are a merchant and are running a sales event then do contact us at vinit [at] redanar [dot] com to list your offers on redanar.