MEMBER.ID closes seed round by East Ventures in partnership with Ismaya Group
By Digital News Asia August 16, 2017
- MEMBER.ID is a solution for both businesses and members
- Allows customers to convert points to various miles and unique redemption platforms
MEMBER.ID, a rewards and loyalty platform, announced that it has secured an undisclosed amount of seed funding in a round led by East Ventures with support from the Ismaya Group.
The investment will enable MEMBER.ID’s help Indonesian companies increase consumer retention via a tailored loyalty programme solution.
Currently, Indonesian consumers are geared towards cost savings rather than value creation which builds loyalty to brands. Existing loyalty programmes are complicated and do not meet the needs of customers.
However, in order for Indonesian brands to achieve long-term customer loyalty, they need to establish true value for their customers in accordance to data regarding their target market’s behaviour, as analysed by MEMBER.ID
A 5% increase in customer loyalty would increase the average profit per customer by 25% to 100%. With 55% of millennials claiming to be brand loyal, compared to 39% of consumers in the 35-and-older group, there is a rising need for brands to address customers in a more effective way.
MEMBER.ID is a solution for both businesses and members that allows you to convert points to various miles and unique redemption platforms via an end-to-end solution for businesses. From consulting on, to designing programmes, to building and operating a business loyalty programme, MEMBER.ID turns cost centres to profit centres to increase repeat sales.
The company has secured The Ismaya Group as a first customer and are currently working to build their loyalty programme across various sectors.
Ever since MEMBER.ID took over and redesigned the Ismaya Lifestyle Card Loyalty Programme in late 2016, their members have grown by over 300% in a six-month period after introducing a tier-based points system which created real benefits for members.
MEMBER.ID CEO and co-founder Marianne Rumantir says, “Retaining customers is five to 10 times less expensive than acquiring a new one. Customers in Indonesia have a tendency to be loyal to discounts instead of being loyal to a brand because most businesses are pressured to focus on making quick sales. They don’t realise this can be an issue in retaining customers and will actually cost them even more in the long run.”
East Ventures managing partner Willson Cuaca added,” It’s been difficult to find a loyalty platform with a holistic approach in Indonesia. Every merchant is in their own silo and consumers struggle to remember every loyalty programme’s benefits. We hope to change this and MEMBER.ID’s team is in the right position to do so.”
MEMBER.ID was co-founded by Marianne Rumantir and Robert Tedja, with Edy Sulistyo (co-founder of Loket acquired by Go-Jek) as advisor. Both Edy and Marianne are avid travellers familiar with a wide array of loyalty programmes they have utilised to travel in luxury for little monetary cost.
Marianne is a seasoned marketer with global experiences in starting and running businesses in Melbourne and Los Angeles. Robert has extensive working experiences in banking and consulting in Canadian Imperial Bank of Commerce (CIBS) and Deloitte Consulting specialising in client acquisition and business operations.
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