Now discover all types of offers on redanar

By Vinit Maniar

 

July 19, 2012 0 Comments

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.

Introducing our startup

By Vinit Maniar

 

May 30, 2012 0 Comments

If you are reading this post then you need no introduction to redanar. So I’ll take this opportunity to introduce our startup, our team, our work culture — basically all behind-the-scene details.

The idea of redanar came about in mid 2011 when Sharmil went to Geoffrey’s (a popular bar in South Mumbai’s Marine Plaza Hotel) and stumbled across a leaflet saying you get 15% discount on food and beverages if you use your SBI Credit Card to settle the bill. He was surprised to learn that this offer was running for the past 9 months… being a frequent patron of Geoffrey’s, he could have saved hundreds of rupees over the past year if he had just known about the offer! After shaking his head many times he availed the offer by settling the bill with his credit card instead of cash and took advantage of the 15% discount.

On his way to home that fateful summer night, he realized that if there was an offer at Geoffrey’s, there have to be many more such offers… offers which regular consumers like him are not even aware of to take advantage of them. After coming home he took out his credit card kit and found a booklet of SBI offers. He went through it and found nice offers at many places he frequented regularly. The rest as they say was history… Sharmil decided to create a mobile app which would showcase these offers to consumers based on their location.

The app would have a list of all the credit and debit cards issued in India (and eventually globally), it would have offers linked to those particular cards, and all merchants, restaurants, shopping centers, malls, etc. would be geotagged so that consumers could discover offers in their neighborhood through their phones while on the go!  It would also be advantageous to have a notification system to notify users about offers in their vicinity and applicable on their cards.

Sharmil did some more research on deals on cards and found that most banks have amazing deals for their cardholders but very poor way of communicating them to their consumers. If you take all the major banks together, there are over thousands of amazing offers which can be utilized by consumers for their everyday shopping, dining and entertainment spends. What’s great is that these offers are valid for almost the entire year (completely opposite to the daily deals which expire after a few days), so more and more people can benefit from it as and when they get time. And the best part about these offers.. wait for it.. THEY ARE ALL FREE! Banks give away these offers for free to their consumers as long as they use their cards for payments instead of cash!

redanar’s first version was quickly developed for iOS and Android platforms. The application was well received by early adopters, so he started working on a new and improved version for both these platforms. During this time he met his old friend Devang after many years (both were in the same school). Soon they got chatting and Devang loved the idea. Devang is one of the promoters of digital outdoor advertising company called Digital Signage Networks. He quickly understood how great the idea was as a media and marketing tool for banks, brands and merchants and wanted to partner with Sharmil and help develop the app further and market it. Sharmil was also happy to have him on board as a co-founder, so both teamed up and decided to make redanar the best and most loved app in the consumer space.

They soon started expanding the team and hired Akshata as iOS developer. Then came Arul as BlackBerry developer. I was hired after that to handle content. Then came Yogita and Arshad for testing. Soon Shaul was hired for designing and Ghanshyam to help put amazing content. Sharmil himself handles all the php stuff and Android app, while Devang looks after marketing and tie-ups. This is our team as of now but it’ll grow in near future as we need few more team members.

Our office is located in South Mumbai and we have pretty chilled out work culture with both bosses being really cool! I have been in this company since last four months but have never seen Sharmil or Devang being “bossy” with anyone though you are expected to put in your best. Their thinking is work as you like but give your best. And as it is a startup you have to take ownership of your work and fire all cylinders to get the work done.

We work like crazy and have already updated the app thrice, each time adding meaningful new features. Fourth version is almost ready and will be out in next week or so. That’s not all we have already started work on a new version which will be drastically different from our current version. In the new version we are trying to bring in a “social” element and are changing the complete UI. As it is a drastic change from our current app, we got truck loads of work, so ending this post here to get back to some other work, but I will be back shortly with a new, interesting post.