The Syndemic* has brought unprecedented disruption to our daily lives and businesses. It has altered in a big way the customer expectations and how they interact with brands and make purchases.
We at Niyo did few things too around this, we were ourselves amazed to see the transitions we were able to make!
To give you a perspective, we have been working hard the past few months to create a state-of-the-art product focused on making banking safer, smarter, and simpler for our customers. We were right in the middle of the Syndemic when the first few building blocks came together and we decided to give it our all to make this experience seamless and simple for our customers.
First thing first, we did thorough beta testing internally (tested our own medicine) and then with family and friends. It was fun beating down our own product and became our own critique to make it better for our customers. It was also fun because our team members showed the maturity to not take it personally and kept the customers in mind always.
Second, our entire Customer Onboarding was digitized. It helped us to grow across geographies in no time and with no limit or constraints. Typically with the conventional sales model, one is limited by footprints and reach across geographies. The cost of acquisition was less than 50%. Customers appreciated it because of no paperwork involved or visits/ physical meetings required.
Third, we kept our small crack team ready (best of our Customer experience guys) available to help customers during their Onboarding journey. It helped in two ways: One it gave us quick initial feedback to feed it back to the Product and Marketing team. And second to help improve the conversion in case of drop-offs during the journey.
The fourth and the last part is our amazing Customer Service and the Ops team ensured that there was no disruption to customer experience despite infra-related challenges at the beginning of Sendemic last year. In fact, it pushed us to speed up the automation to the extent that almost 68% of our customer queries over the last 6 months were managed by DIY, Self-service, and BOT. The best part was our NPS and CSAT scores kept getting better.
When I reflect on my last 12 months, these were one of the toughest periods of my life and I am sure for many like me. However today when I sit and write this, have a kind of satisfaction and inner peace. Gratitude towards my colleagues Vineet (Our Marketing genius), Mrigank (Our product geek), Ashish (our Tech ninja with rare to find great business acumen), Tushar & Darpan (Our Head of the family who brings us revenue), Gourav (who ensured our finances are managed well and people were well fed).
Certainly our founders Vinay Bagri & Virender Bisht. They are more like friends to all of us. They give us Vision and leave us to fly on our own comfortable heights.
My team led by Tushar, Kavita, Apeksha, Pratham, Aswathy, Akhil, Shalini, Ishan, Devika, and Pradeep. I work peacefully and sleep well because I know they are there to back me up.
Big Thank You to our Customers who believed in us! We know and very well realize that we exist because of you. We have vowed to never take you for granted!! We will never claim that we did not make mistakes but the intent is never to harm our customer’s financial interests or well-being. We want to learn and grow with you…
Our learning through this year will continue…
Please, share your experiences and comments. Take good care of your health.
*Syndemic: Pandemic in synergy with other diseases