Member.id Rewards and Loyalty Platform Get Initial Funding from East Ventures

Platform provider reward and consumer loyalty Member.id announced seed funding from East Ventures with the support of the Ismaya Group. The amount of funding obtained was not informed. This funding will be focused on Member.id to maximize marketing, so that more and more companies in Indonesia are presenting user loyalty programs through its platform.

Member.id allows users to convert points to various forms of redemption. Platforms provided end to end, from design consulting to operations. Ismaya as one of the investors is now also implementing the platform owned by Member.id and his party claims to get effectiveness in terms of customer growth.

"Expenditures to retain customers are 5 to 10 times more affordable than expenses to acquire new customers. Consumers in Indonesia have a tendency to submit to discounts rather than being loyal to a particular customer. brand, as many businesses are pressured to make sales faster. They don't realize that this can become a problem in retaining customers and will be a bigger expense in the long run," explained Co-Founder & CEO Marianne Rumantir.

From research released by Member.id, a 5% increase in customer loyalty can increase the average profit per consumer by 25% to 100%. 55% of Millennial profess allegiance to a brand, compared to 39% of the group aged 35 and over. From this figure Member.id sees a need brand to respond to consumers in a more effective way.

"Looking for platforms loyalty holistic ones are hard to find in Indonesia. Every merchant are in their own world and consumers have a hard time remembering the benefits of each program loyalty the. We hope to change that and the Member.id team is in the right position for this," said East Ventures Managing Partner Willson Cuaca.

Member.id itself was founded by Marianne Rumantir, Robert Tedja and Edy Sulistyo (for your information, Edy is one of the co-founders of Loket which was recently acquired by GO-JEK). Member.id comes along with the current trend among Indonesian consumers, namely consumers are more interested in saving money than getting rewards to be able to build their loyalty to a brand. But to retain consumers in the long term, brands in Indonesia must collect data from customers, including the behavior of their target market.