Bajaj Group is a leading Indian conglomerate known for its extensive operations across various sectors, including automotive manufacturing, financial services, and healthcare. With a significant presence in both domestic and international markets, the Bajaj Group has established itself as a powerhouse in the Indian economy.
Bajaj Finserv Health, a subsidiary of Bajaj Finserv, is a personalized online health management platform that acts as a one-stop solution for all healthcare needs. It enables easy and quick access to healthcare ecosystem by allowing users to book online and in-person doctor consultations and lab tests, maintain health records digitally, and buy health plans and insurance.
Key challenges
- Increasing customer engagement and incentivizing users to perform specific actions.
- Building a flexible loyalty system for a web and mobile app.
- Personalizing loyalty rewards and journeys based on customer cohorts.
In 2021, Bajaj Finserv Health set out to boost customer engagement with a point-based loyalty program. They looked at different providers to find a solution that balanced cost and value, had an advanced rules engine, and came with easy-to-use APIs for their web and mobile app with over 1mln+ downloads.
They chose Voucherify for its predictable pricing and rich set of features. The integration was done in just a month thanks to robust APIs and dev-friendly documentation.
Enhancing customer engagement with Health Coins
Bajaj Finserv Health, in collaboration with Voucherify, has established a loyalty program where customers can earn points called Health Coins and then redeem them for rewards. Health Coins are earned through actions such as signing up and participating in various health-related activities, such as:
- Signing up on the Bajaj Finserv Health app (100 Coins).
- Completing your profile on the app (50 Coins).
- Participating in the daily quiz (20 Coins).
- Referring the app to friends and family members (200 Coins, limited to 10 referrals in total).
Members can redeem Health Coins by booking appointments with doctors, purchasing health plans, and getting lab tests done, as well as shopping for clothing, books, medicine, electronics, and much more.
Health Coins also have a cash value and can be used to pay for part of the services through a pay-with-points option supported by Voucherify. However, the Coins are valid for only one month, encouraging timely engagement and redemption.
The program leverages Voucherify’s custom events and metadata to effectively manage member behavior and trigger proper points assignment for specific user activities.
Bajaj Finserv Health offers different rewards modules to various customer cohorts. Each cohort receives customized currency modules, where individual activities are rewarded with different number of Coins. Currently, they manage over 10 cohorts, each with differentiated rewards for the same activities.
Bajaj Finserv Health has personalized their loyalty system to offer a variety of rewards that customers can choose from, including discount vouchers for popular brands like MandyandCo, Peesafe, Keeros, Eatsure, and Justherbs. These vouchers can provide either a percentage off or a specific amount off the price.
In addition to these rewards, the team has implemented bonus earning rules that allow customers to earn additional Coins by engaging in health-improving activities. These activities include:
- Attending gym sessions.
- Having diet consultations,
- Receiving advice for a certain number of consecutive days.
- Achieving a daily goal of 8,000 steps.
This approach not only incentivizes customers to earn Coins and use Bajaj's services but also actively contributes to their overall health improvement.
Customer wallet for rewards monitoring
Bajaj Finserv Health provides a customer wallet where individual users can view their available rewards and Health Coins. Voucherify’s Get APIs and Qualification APIs display earning rules and rewards in the wallet, allowing users to easily access this information by logging into their accounts.
Standalone and targeted promotion codes
Bajaj Finserv Health runs multiple campaigns to make healthcare more accessible for their customers. These campaigns include standalone code promotions, offering discounts such as 10% off on PMS plan and lab purchases and 5% off discounts on various products.
Additionally, they offer discount codes for monthly tenure discounts and 10% discounts available exclusively through the agent portal. The team also provides unique promo codes specifically targeted at different user groups, ensuring tailored benefits for various customer cohorts.
Solution
Effective promotion management
At Bajaj Finserv Health, three dedicated teams – product, tech, and business – work with Voucherify. Unlimited user seats and approval workflows allow each team to focus on its specific tasks while ensuring seamless coordination.
Dedicated teams also manage promotions and monitor the performance of specific incentives. While they use Power BI for in-depth reporting, the team uses the Voucherify Dashboard for quick day-to-day health checkups.
To enhance customer engagement, Bajaj has integrated with CleverTap. For managing customer data, Bajaj’s internal database stores the information and serves as the source of truth, while Voucherify holds the minimum customer data necessary for redeeming and validating promo codes and loyalty rewards.
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