What is Refiral?
Gurgaon based startup Refiral was founded in March 2014 by Anmol Batra and Rajat Goel. It is designed to help online businesses and e-commerce websites boost sales by increasing their conversion rates, acquiring new customers and retaining existing customers. It helps e-commerce stores in increasing their sales by running referral and viral campaigns.
Recently, in January 2015 it secured a funding of USD 330,000 from IT service firm Cogent eServices. Both the companies are building a customer support-as-a-service tool for online businesses, as a part of the deal signed among them.
As the company says, the name Refiral came about by combining the initial letters of the word ‘Referral Marketing’ and ‘Viral Marketing’. Presently, it has 300+ clients such as Jabong World, Archies, Amar Chitra Katha and others.
What problems is it solving?
The e-commerce problems that they necessarily cater to are:
- How to increase website conversions?
- How to acquire new customers?
- How to retain existing customers?
The Chart below tells of how exactly Refiral works for its customers:
Who is it competing with?
It is competing with other such companies who offer similar services such as InviteReferrals, ReferralCandy, ViralMint etc.
What market is it addressing?
It targets online businesses and e-commerce websites across all industries (products/services) and all geographies. The company’s client profile are mainly e-commerce stores.
What are they aiming for?
Talking about their future goals the company says, “Going forward, with expanded and evolved product offerings, we aim to target larger online businesses as well,” further adding, “Our vision is to create an umbrella of such tools which help e-Commerce stores to generate more sales.” The recent funding secured by the company will be used for product development and expanding sales team along with scaling up business operations in India as well as international markets.