AI Issue 5 2017

12 Acquisition International - May 2017 “Ominto’s business model emphasizes highly attractive, loyalty-building programs that are both relevant and compelling for both consumers and participating merchants of the shopping site. Our company’s loyalty program is cash-based, thus enjoying a higher value perception than point- based rewards. In addition, Ominto’s model cultivates mutually beneficial relationships between customers and the co-branded company or organization itself translating into improved, long- term consumer loyalty, higher customer retention and engagement, re-engagement of dormant customers, increased revenue from existing customers, increased customer lifetime value… to name a few. “This model also benefits the partner as it offers them increased marketing exposure and access to a new marketing channel, one by which their customers are already engaged. We don’t have to ask our customers to change behavior, indeed only now they are rewarding them for that existing activity. The customer, on the other hand, benefits from Cash Back earnings at thousands of their preferred stores, stacking coupons with Cash Back, while still allowing them earn rewards on their credit card, or any other loyalty card or membership.” BSP Rewards is a global and universal loyalty program that works seamlessly for companies, organizations and non-profits of all types and sizes. The program is certainly viewed as an extension of a company’s existing brand and marketing efforts. Easy integration ensures that the program does not disrupt the partner’s normal operations. Michael explains that BSP Rewards caters to larger companies and organizations that have a significant customer database, with a white-label solution and enhanced marketing strategies, while small to medium sized entities and non-profits are served with a co-branded solution. “A big advantage for smaller organizations lies in the fact that with the partner program they can overcome any cost disadvantages related to their size, while enabling them to extend their geographical reach for customer acquisition. “The extra bonus for partner’s using BSP Rewards is a generous revenue share. The technology of Ominto’s global Cash Back site allows businesses and organizations to have a loyalty program like Fortune 500s for a fraction of the cost. “The company’s business model is easily scalable, allowing it to tap into new sales channels and growth opportunities quickly. BSP Rewards is achieving economies of scale by tapping into a loyal, engaged customer base of another business or organization. Given the formidable cost of customer acquisition, this one channel alone makes BSP Rewards a valid a B2B2C e-commerce model.” ________________________________________ Ominto’s true success lies in its customer- centric mindset The overall site quality, mobile-friendly responsive design for cross device viewing, unique content, relevant offers, and the look and feel of Ominto’s site pages wins a customer’s heart and mind, and differentiates Ominto from the competition. All of this impacts website engagement, which in turn, impacts member engagement levels that translates into sales. Michael proceeds to detail the appeal of Cash Back and how this is tailored to the customer. “Moreover, Cash Back is a unique business model where the revenue stream is based on a behavior by which consumers are already engaged. The appeal of the Cash Back value proposition is straightforward: join or sign in, choose your favorite store, shop and earn. The rewards are cash and not point-based. The unmitigated number of stores available on our company’s site is unparalleled and shortens the buying cycle. In addition, the Cash Back payout is easy. Cash Back can be withdrawn by the customer via PayPal, Paytm or their own DubLi Debit MasterCard ® . “Success metrics include the sites ability to segment and personalise. By segmenting, we have more opportunities to personalise content to each customer’s specific interests. We segment based on customer’s set preferences and site behavior. We deliver all content based on each customer’s variables including preferred language, geographic location, membership level or status and are continually increasing these variables to optimise the overall content. “Our company’s social media channels are a great avenue for its member community to connect, be informed, build relationships and seek customer support through integrated APIs which connect social hubs with our customer support desk by sending messages automatically to their customer support agents as service tickets.” More than 65% are returning visitors to DubLi. com site which speaks volumes. Indeed, Ominto and DubLi.com have been featured on several TV channels and programs, including Modern Living and Worldwide Business with kathy ireland ® . The company’s PR efforts focus on the most effective ways to deliver information. Consumers today consume information differently than the next. Ominto makes sure to cover all outlets to provide customers various means for receiving key messages while avoiding information overload. From B2C to B2B2C DubLi.com has a B2C orientation and serves consumers from all over the world. DubLi.com is for everyone, regardless of age, gender or household income, anyone who has an Internet connection and shops online - everywhere and anytime. The BSP Rewards Partner Program is B2B2C (business-to-business-to-consumer) which extends the B2B (business-to-business) model to include online shopping for consumers. It is a B2C model that is licensed by another organization, but facilitated by Ominto. For example, a telco company who licenses the global Cash Back site which they layer on to their existing loyalty program for their customers. “Any type and size of company can use BSP Rewards as a powerful tool for developing strong relationships with their customers while non-profit organizations can utilise the program for their members and donors,” Michael goes on to tell us. “With each of our company’s marketing channels, we use various marketing methodologies for reaching our end customers, whether that is an individual consumer or a multi-national corporation. This ranges from traditional and online marketing campaigns, SEM/SEO, word-of-mouth through our global sales network, to a dedicated business development team. “Our approach is customer-centric: we focus on continuous content, member benefits and potential savings optimization. The key strategy has shifted from seeking potential clients to making them want to come to DubLi.com,” Michael continues. Meeting challenges and embracing new opportunities for constant improvement In closing, the biggest challenge for any global e-commerce business is always having an efficient and reliable technology as well as operating at an ever-increasing scale Michael underlines, a point he develops in his own words. “Information technology developments are moving at a fast pace, and our company relies on highly skilled human resources and the key knowledge assets they bring. “Optimising the sales funnel is also a critical factor. Minimizing the ‘leakage’ from the funnel, including areas where customers drop off and maximizing conversion rates rely on effective but appealing web design, convenient, simple, intuitive and a user-friendly site, relevant content and perceived benefits. Therefore, the challenge lies in developing greater agility to innovate and to quickly respond to market changes. “Last but not least, the intense competition we face is always a motivating factor to differentiate and stay one step ahead.” 1 https://www.statista.com/statistics/261245/ b2c-e-commerce-sales-worldwide/ 2 https://www.statista.com/statistics/261245/ b2c-e-commerce-sales-worldwide/ 3 http://www.tmgmktg.com/download/TMGWP_ Rewards.pdf