Kindly share your feedback on how GoodFirms has been doing so far in increasing your visibility among potential clients.
With almost 1000+ prospective customers visiting GoodFirms every month, this research & review platform has helped Xoxoday showcase its products to a highly filtered and quality audience. GoodFirms’ consistent efforts to become the new face of quintessential social proofing have aided us in building our brand awareness & trust seamlessly. This collaboration has also paved the way for a steady increase in qualified leads & conversions for Xoxoday. We strongly believe that this is just the beginning of an already successful journey with GoodFirms and hope to leverage this platform to scale our business more successfully going forward.
Please introduce your company and give a brief about your role within the organization.
At Xoxoday, we deeply understand the intrinsic and extrinsic motivation and engagement drivers of people, be it an employee, sales team, channel partner, gig workers, or consumer. Our mission is to put human motivation at the center of business growth through technology. Our robust rewards & incentives infrastructure makes the whole process a breeze. We take all the hassles of reward & incentive budgets, calculations, program design, catalog, payouts, reports & participation so that our customers can focus on their core.
We may have grown in our size, but we still function like an action-packed startup where my role ranges from talking to customers to brainstorming on product features to closing a sale. On a high level, I am responsible for strategic direction in the product, marketing, and business excellence of the company.
What is the story behind starting this company?
Abhishek, Kushal, Sumit & I started Giftxoxo in late 2012 from a small cabin of a friend's office in Bangalore, India. We were one of the early movers in the experiences & activities business in the consumer internet space. However, the business did not scale the way we expected as it seemed ahead of its time, and the supply side was too immature. In early 2018, we shut down Giftxoxo and leveraged some of the enterprise experiences & activities business to pivot into a new business. Thus, Xoxoday was born, a B2B rewards & incentives platform. Since then, Xoxoday has been growing very well in global markets, extending its reward infrastructure across various business applications.
What are your company’s business model–in house team or third party vendors/ outsourcing?
We are a Saas technology product company. We sell reward and incentive infrastructure to thousands of businesses of all sizes, from start-ups to large enterprises. We have in-house teams for sales. However, we also work with channel partners for all our integrations.
How does your company differentiate itself from the competition?
Our approach to the market has been very different. While most players concentrate on delivering at the end of the value chain of behavior change, we provide value at every step from defining behavior triggers to enabling action to make results happen. The entire platform is built on a modern tech stack, with quality UI/UX and provides scale across countries. The integrated approach of our products helps users to use the features in their existing applications like Slack, Teams, Salesforce, Hubspot, SAP, etc without switching over to our applications.
The end-to-end reward features and a large supply side of the reward catalog help customers to use our multi-geography product instead of working with multiple solutions in different countries.
What industries do you generally cater to? Are your customers repetitive? If yes, what ratio of clients has been repetitive to you?
We are industry agnostic. However, ITeS, BFSI, internet, and SaaS companies are our sweet spot.
Yes, our business model has low churn with high lifetime value. On average, a customer continues to use our products for over 3-4 years. We have a very high repeat from our customers.
Please share some of the services that you offer for which clients approach you the most for?
Most of the customers reach out to us for their reward and incentive infrastructure needs. We have three products that help us deliver on different customer rewarding needs.
Plum is our flagship product that is a unified reward solution for everyone. Our customers can define the behaviors, assign triggers for various parameters, and run workflows to distribute rewards based on milestones completed. It has one of the widest range of reward catalog options available in the market.
Empuls is our holistic employee engagement platform that lets our customers Improve employee productivity, performance & retention with an easy-to-use engagement application. It is used by companies of the likes of Infosys, Pepsi, Citibank.
Compass is our product tailored to incentive-driven business functions. It helps leaders optimize team performance with gamification and real-time incentives. The solution is used by various teams ranging from sales to gig workforce to delivery fleets.
What is your customer satisfaction rate according to you? What steps do you take to cater to your customer’s needs and requirements?
We have an NPS of 8.5 and our endeavor is to make it better and better. We get in a lot of referrals from our existing customers that validate customer satisfaction. Our product teams take customer feedback for product plans and the customer success teams work closely with customers to understand the gaps in features and products.
What kind of support system do you offer to your clients for catering to their queries and issues?
We provide round-the-clock support for our customers and end-users. The onboarding guides, FAQs, resources, and DIY journey makes it extremely easy for clients and end-users to get started and adopt the product. Our customer success teams work with clients to ensure the product can deliver more value to our customers. There is also a dedicated account manager who supports all our customers during their sales journey. For the end-users, we have the customer care teams along with email and bot supports.
What kind of payment structure do you follow to bill your clients? Is it Pay per Feature, Fixed Cost, Pay per Milestone (could be in phases, months, versions etc.)
We follow a pay-as-you-go SaaS payment model. There are different packages according to features and benefits. Customers can choose and pick whichever package is relevant to them.
Do you take in projects which meet your basic budget requirement? If yes, what is the minimum requirement? If no, on what minimum budget you have worked for?
Our aim is to give a good customer value and experience. Though our min budgets are 5000 USD, there are clients whom we give free trials, and then the clients can decide to go ahead if they find value in our products.
What is the price range (min and max) of the projects that you catered to in 2020?
Min = USD 5000
Max = USD 3 mn
Where do you see your company in the next 10 years?
10 years is too long, We will be a billion-dollar company before 2025.