Saturday, November 15, 2014

WhatsApp for Customer Care - Haptik [Business Model]

A whatsApp like application, Haptik connects customers with companies. Haptik is an instant messaging application to get your queries solved. User can chat queries with Haptik executive on varied issues.

The app is co-founded by Aakrit Vaish and Swapan Rajdev in Aug 2013. The app went live for Android and iOS on March 31, 2014.

Funds raised
Venture Capitalist
Amount raised
Application of funds
Sep 2014
Kalari Capital
Series A
$1 million (~ Rs. 6 Crores)
Expanding team of engineers, Building chat operation team,
Product development, Advertising and marketing

Business Functions
The Haptik application is available in iOS, windows and Android. It is free to download and easy to install. After installing, user can select the company from the list of companies. Then app connects user to haptik representative and lets user chat with him. User has option to either select from a predefined set of questions or write their unique question to haptik representative.

Online Haptik representative would reply to query within average response time of 5 minutes. The chatting process continues till the query is resolved. Haptik representative are experts who have previous work experience with respective company or gained knowledge through the public domain or have used particular product / services extensively.

Haptik user gain access to almost 200 companies and brands across 13 categories. Broadly companies are from telecom, cable services, automobile, shopping, airlines, banks and others sectors. User can ask query related to support issue, FAQs, information, tracking orders or bill query.

Consumer Complaints are handled by Akorsh - Online Consumer Forum.   

Unique Selling Proposition 
For Consumer: Its one point destination for all customer query. Consumer are relieved from calling different consumer care centre, responding to automated system and waiting in virtual queue for customer care executive to answer the call. Haptik is alternate means of communication for consumer which they can dealt at their own time and convince. This helped them to grow fast and win customer's trust and confidence.

For Business or companies: They would receive less customer call to their call centers. Also, chat support is cheaper option than call support.

Smart watch Integration: User can use Haptik application from smart watches. It enables the user to click links, read notifications and speak query.

Revenue Model
Currently, Haptik does not have any tie ups with companies. It does not act as an agent of the Company and there is no legal agreement with the companies listed on its platform.

Haptik services are free to use for customer. It charges companies or brands on basis of pay –as-you-go platform fee for handling their queries, i.e. it charges customer based on number of messages it receives through its app. In near future, it plans to monetize its platform charging listing fees to companies providing data analytics on nature of queries and offering them premium application.

It employs call centre workers to assist customer with their complaints. Also, few responses are automated, thereby enables employees to focus on unique customers queries. Haptik function on a SaaS platform.

Make best user of your time. Text in all your queries to Haptik, their representative will get you best solution is least time.