EP 12| Why 90% of Membership Programs Fail (And How to Build One That Doesn't) | Interstellar ft. Anuj Rathi

EP 12| Why 90% of Membership Programs Fail (And How to Build One That Doesn't) | Interstellar ft. Anuj Rathi

Membership and loyalty programs are one of the most powerful growth levers in consumer businesses, yet 90-95% of them fail. Most companies treat them as a feature bolted on top of the product. The ones that survive treat them as a strategic operating system built into the core of the business.


In this episode of Interstellar, Rahul Chowdhri speaks with Anuj Rathi, Founder, Profound Club. Over a career spanning Flipkart, Walmart, Swiggy and Cleartrip, Anuj has been at the centre of some of India's most defining consumer product moments, from early e-commerce to quick commerce, and from growth-at-all-costs to the harder, more nuanced work of retention.


In this conversation, they go deep on what it actually takes to build a membership program that works; the right benefits, the right cohorts, the right payback horizon, and the strategic clarity that separates programs that scale from ones that quietly die.


Coming up in this episode-

00:00 - Coming Up

01:25 - Intro

03:05 - Why do 90-95% of membership programs fail?

06:56 - Types of Membership/Loyalty Program

13:40 - Inception of Swiggy Super

20:31 - How to define program pricing?

26:20 - Acquisition vs. Retention

30:18 - Structuring your program

33:04 - Annual Vs. Monthly Programs

36:42 - How should founders approach membership/loyalty programs?

42:30 - Anuj’s favourite program


Visit www.stellarisvp.com to learn more about how we invest.

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Episoder(13)

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Experiences are emerging as a new layer of India’s consumer economy. From large global concerts to hyperlocal community events, consumers are increasingly stepping out not just for entertainment, but ...

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EP. 9 | How Swiggy Is Building for India’s New Consumer | Interstellar ft. Rohit Kapoor

EP. 9 | How Swiggy Is Building for India’s New Consumer | Interstellar ft. Rohit Kapoor

As the world around him changed, Rohit Kapoor chose to reinvent himself. Curiosity led him into the startup world — from reimagining Indian hospitality at OYO to now powering India’s food story at Swi...

25 Nov 202551min

EP 8 | Building & Scaling Fashion Brands in India | Interstellar ft. Nandita Sinha, Myntra

EP 8 | Building & Scaling Fashion Brands in India | Interstellar ft. Nandita Sinha, Myntra

Enamoured by Bangalore’s startup ecosystem, Nandita Sinha launched her own e-commerce venture in 2012. The learnings from that journey took her to Flipkart, where she rose through the ranks, leading m...

29 Sep 202559min

EP. 7 | The Next Big Bets in Quick Commerce: Deep Dive on Fashion, Baby & Kids, Beauty | Interstellar ft. Mayank Jain

EP. 7 | The Next Big Bets in Quick Commerce: Deep Dive on Fashion, Baby & Kids, Beauty | Interstellar ft. Mayank Jain

Why is this a Quick Commerce category and not e-commerce or offline-first?What’s the right to exist for a vertical player - why won’t horizontal platforms win here?Does this category demand a unique b...

22 Aug 202545min

Ep. 6 | How I Built Flipkart's Mobile Business from Scratch | Interstellar ft. Smrithi Ravichandran

Ep. 6 | How I Built Flipkart's Mobile Business from Scratch | Interstellar ft. Smrithi Ravichandran

Switching from a coveted FMCG job to an industry that was barely taking shape was one of the riskiest career moves in 2011. But Smrithi Ravichandran took a leap of faith into ecommerce when most were ...

1 Aug 202555min

Ep. 5 | How OYO Scaled from India to the World | Interstellar with Abhinav Sinha

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With an IIT KGP degree, an MBA from Harvard, and a comfortable consulting job at BCG New York, Abhinav Sinha had every reason to stay back in the US. However, in 2014, he packed his bags and returned ...

4 Jul 202550min

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