PriyoShop

Priyoshop, a prominent B2B marketplace in Bangladesh, connects retailers, wholesalers, and individual customers. The company faced two primary objectives:

1. Expand their target market by onboarding and serving the underbanked and unbanked segments of Bangladesh's population.

2. Increase engagement on their platform among existing clientele through personalised offerings.

To achieve these goals, Priyoshop required an extensive and reliable database of retail shop owner and customer behavioural insights. Their existing data collection methods, which relied on public demographic surveys and customer interactions, proved insufficient. This led to:

·  High risk in customer acquisition and retention

·  Substantial operational costs

·  Low engagement rates on their platform

InsightGenie proposed a comprehensive solution tailored to Priyoshop's needs:

1. Digital Footprint System

This tool aggregated and analysed online behaviour, social media activity, and other digital interactions of potential and existing customers.


2. Voice Analysis

This innovative system captured and analysed verbal communications to derive deeper insights into customer preferences and behaviours.

By integrating these tools, Priyoshop gained access to a wealth of customer and retailer insights and usage data. This allowed them to:

·  Better understand their new target market
·  Identify low-risk customers and retailers for onboarding
·  Develop more personalised product offerings
·  Increase "stickiness" and engagement on their platform

The implementation of InsightGenie's solution yielded significant results for Priyoshop:

1. Cost Reduction

Within the first few months, Priyoshop saw a dramatic decrease in serving costs and customer acquisition expenses.


2. Enhanced Risk Management 

The comprehensive data allowed for better structuring of risk management perspectives, leading to reduced overall risk.


3. Increased Engagement

The platform experienced higher levels of "stickiness" and engagement among individual customers, driving increased revenues.


4. Personalised Offerings

With deeper customer insights, Priyoshop was able to offer more tailored products, facilitating increased upselling among the existing customer base.


5. Expanded Customer Base 

The company successfully onboarded customers from previously underserved segments, including the underbanked and unbanked population.