Started in 2009, in a modest flat in Delhi, this platform was formed, servicing a small cohort of clients and assisting them in growing their assets in public markets. They eventually relocated to Mumbai, where their momentum intensified. Thousands of clients joined them only on the basis of word of mouth.
Even before fintech was a thing, they kept on innovating at the forefront of the industry! They introduced fixed-price unlimited trading programs for the first time in the industry. In 2016, they completely got rid of paper for onboarding. The government’s “financial superhighway” innovation (the drive for digital identification via Aadhar and eKYC, as well as the push for digital payments) caused them to scale up by orders of magnitude.
They expanded their proposition from India to Bharat, with 70% of their new consumers coming from Tier 2 and Tier 3 areas. This exponential expansion resulted from lowering barriers to access for all clients. They acquired more than a million customers overall in 2020, and in 2021, they added the same number in a single month! Their first national partnership with the top cricket league in the world, combined with their media campaign, made them well-known throughout the nation.
Overarching Goal
In India, unproductive assets holding trillions of rupees in wealth are depreciating over time. They help millions of Indians do better with their wealth.
They support their customers in investing right by providing them with the necessary financial education to make the best investment decisions at the right time. In order to do this, they make use of a seamless digital platform that combines the best features of contemporary technology with logical design, usability, and safety.
They aim to make financial markets accessible to everyone. One can trade using the platform, starting with as little as 1 rupee. People can use the brand’s intuitive, user-friendly platform to learn about the financial markets and make investments based on their own independent research.
The Online Stock Trading Platform’s mission is to “Bring Prosperity to Every Indian”.
Obstacles experienced in reaching its goal
Since trading is a complicated process, many new users who try it out have a lot of doubts and questions. Because people’s hard-earned money is on the line, it is crucial to respond to these questions effectively and quickly.
It was proving to be a waste of time and resources to have to respond to these questions in an uncategorized way. Manually tracking these social profile analytics wasn’t producing the desired outcomes. To gather and display data from all the channels, they required a platform.
They required a solution to sort the queries received into different categories. The corresponding support agents were to handle these specific inquiries. Due to the workflow used to automatically categorize these queries, it was challenging to close the queries in a way that was both effective and efficient.
Going Data-Driven
The financial sector depends on consumer trust, and it can be challenging to convince people to give brands their hard-earned money. The brand believed in offering high levels of customer satisfaction to build trust among both current and potential customers. This might entail assisting them when they run into problems as well as answering any questions they may have.
Customers frequently express their opinions on social media platforms. Millions of customers and potential prospects view these comments and conversations. The brand required a workflow to precisely track and respond to such conversations in order to address them.
Advantages
The company has been able to provide seamless customer support by centralizing all customer data and conversations in one place.
The auto-response classification offered by Konnect Insights is a special value proposition. The Konnect Insights response automation module automatically tags the user in the comment and closes the ticket when the brand is running campaigns. This has helped the brand in allocating agents and resources to other more important tasks.
Using the Konnect Insights social listening module, they have been able to track conversations across various platforms and even respond to them. This has helped in reducing their turnaround time (TAT). Service Level Agreements (SLA) are established for the brand’s online reputation management. When a conversation mentions the brand by name, Konnect Insights immediately alerts the team. These interactions are classified as tickets and given to an agent for handling and response management.
Low turnaround times are advantageous for the brand because they enable most queries to be resolved in a given amount of time and give customers confidence that the brand is prepared to assist them whenever they need it. It also demonstrates a sense of care for the customers who come across such conversations.
The online trading platform is carving a niche for its customers across the country by streamlining with technology and providing a top-notch customer experience and services.
