August - September 2024

About Spinny Partners

Spinny is the most trusted name in the country when it comes to used cars. Our B2C platform is dedicated to delivering high-quality, thoroughly inspected cars directly to consumers, offering a transparent and seamless buying experience.

In addition to our consumer-facing brand, we also cater to used car dealers (partners) through Spinny Partners, a specialized B2B auction platform. Spinny Partners facilitates the sale of cars that may not currently fit our B2C assortment or cars for which we can secure a better price from a dealer. This platform allows dealers to bid on vehicles in a traditional auction format. Each car is live for a specific duration, during which dealers place their bids. The highest bidder then has the opportunity to negotiate directly with the seller through the platform. Once pricing and negotiations are finalized, the car is sold to the dealer.

Why is there a need for a rewards programme?

As our platform continues to scale, keeping dealers engaged and minimizing attrition is essential. While foundational aspects like accurate inspection reports, transparency, and process visibility have been instrumental in building trust with our dealers, we saw an opportunity to take engagement further.

Throughout the year, continuous discussions with our channel dealers revealed several critical insights that highlight key opportunities for enhancing our approach:

  1. Potential for Business Consolidation: Many of our high-volume dealers also transact at similar levels on competing platforms. There is an opportunity to consolidate more of their business onto Spinny.

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  2. Value of Rewards and Recognition: Dealers appreciate tangible rewards and recognition. For example, one of our top dealers, Chawla Motors, highlighted how other platforms incentivize them with rewards such as TVs, gold coins, trips, and awards for achieving milestones.

  3. Attention to Detail: Dealers, as power users, are highly attentive to the small improvements made to our app, much like how a frequent social media user notices updates. These incremental changes enhance their overall experience and are acknowledged and appreciated by them.

  4. Incentive-Driven Competition: Beyond monetary rewards, dealers are motivated by competition. They frequently boast about their business volumes and take pride in their transactions with specific platforms, including Spinny.

  5. Display of Achievements: During a visit to one of our dealer's offices, we observed a dedicated area showcasing awards and accolades, reinforcing the importance of recognition in this competitive industry.

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  6. Market Competitiveness: Given the highly competitive nature of the market, dealers often switch between platforms, continually seeking better alternatives and more attractive incentives.

Introducing Spinny rewards programme

We propose a gamified ecosystem for our dealer network, featuring coins and personalized performance targets to incentivize high-value transactions and build deeper engagement. This initiative is designed to motivate dealers, enhance loyalty, and maximize car purchases from Spinny. Additionally, we will introduce a tiered rewards system, offering escalating benefits based on dealer performance, driving sustained growth and retention.

Dealer Segmentation for the Rewards Program

Based on these insights, we have identified four key categories of dealers, each requiring tailored approaches to achieve specific objectives through the rewards program: