Kolors World has a rich corporate heritage going back 45 years. Established in 1970 as an electrical trading enterprise in Mumbai, India, the company gradually expanded into the production of electrical wiring and accessories. Kolors World expanded steadily and became an industry leader in the creation of electrical installations for residences, workplaces, factories, airports, and hotels. Currently, Kolors World produces all different kinds of switches, sockets, MCBs, mounting boxes, plug toppers, wires, light holders, door bells, spike guards, extension cords, and multi-adopters. Kolors World aims to enhance transparency with their channel partners, fostering stronger sales and cultivating a trustworthy relationship. The existing program they had in place was characterized by manual processes with high costs, resulting in more inconvenience than benefits.

Challenges

• Operating the marketing schemes and programmes is a labor-intensive, costly procedure.
• No ease in ensuring the accuracy of rewards allocation data.
• Ineffective customer segmentation due to missing preference and demographic data.
• Absence of communication with current and potential channel partners
• Absence of repeat orders that lead to decreased sales
• Difficulty in taking effective business decisions due to lack of sales data

Solution

In order to fully understand Kolors World’s needs and issues, the LoyaltyXpert team collaborated with them to develop a unique loyalty management platform solution. With effective management of repeat customers, building relationships with prospective customers, motivating channel partners, and improving revenue with every transaction, this solution helps Kolors World. Kolors Kutumb is the program that LoyaltyXpert tailored for them. A solution for Kolors’s loyalty program, Kolors Kutumb, rewards its loyal channel partners from the community of Indian electricians. Electricians can receive cash back (directly transferred to the electrician’s bank account) for purchasing Kolors’s constructed electrical switches and accessories.

• Developed a digital loyalty program solution (Kolors Kutumb).
• Simplified distribution and redemption of rewards
• Improved communication with traders in diverse locations
• Enhanced referrals and repeat orders
• Reduced costs for rewards reconciliation
• Automated data generation for better customer segmentation

Results

A tailor-made program “Kolors Kutumb” enabled hassle-free onboarding of 40,000 channel partners across the nation.

• Onboarded 40,000 channel partners across India
• Effective management of loyalty program
• Reduced promotion and marketing costs
• Enhanced communication with trade partners