1 year of kooma∙looma

On May 19th we celebrated 1 year of kooma∙looma. This is a brief recap, from idea to reality, of what we have achieved during the first year of existence.

  • Team: We have put together a great team. Francesca is our latest new entry, joining us last week as Business Operations and Control Director, with 5 years of experience in a similar directorship role in digital payments.
  • Technology and Platform: We developed the first version of our loyalty platform during the first 6 months allowing us to go live in November 2015, this included the core engine to track the loyalty points, the end user catalog website for signing up to the program and redeeming prizes, the APIs and Javascript widgets for the integration, our unique Retroclaim feature for collecting points before signing up to the program. During the next 6 months we released new versions and features, including the backend administration and stats panel for the merchants and API integration for automatic redeem of digital rewards such as Mobile Carrier top ups.
  • Product and User Experience: Since the launch we have continuously worked on improving our product and the user experience, also based on user data and feedback. Some of the main improvements include: a general improvement to the layout and copy of the Sign up pages, an automatic tutorial for first time users, improved rewards catalogue and redeem flows.
    Business: We went live in Turkey with Onebip with a small test in November 2015, and then extended to many more users and to the Swiss market in February 2016. Thanks to Onebip, gamers are collecting kooma points when making purchases on premium online games publishers.

Above all, our main goal to be achieved within 1 year of kooma∙looma was to have a positive test to use as case study for further business development. We wanted to demonstrate that by issuing loyalty points, users actually did spend more. As of last February we are performing a very rigorous AB Test on 2 clusters of 5.000 users, only one of which is actually exposed to kooma∙looma of course. After 4 months we can disclose that the total increase on end user spending generated by the points, is currently 3.5 times the cost of the loyalty program. Now we have evidence that mobile and web companies using kooma∙looma will have a positive return on their marketing investment because users collecting kooma points, churn less and spend more.

A reminder of where you can find more info about kooma∙looma:

 

Happy Birthday koomalooma