Case Study: Samco Securities reduces referral costs and boosts ARPU with Xoxoday Plum

Samco Securities Pioneering Digital Transformation in Indian Broking

Samco Securities Ltd, an Indian broking company serving over 550,000 customers, needed to rethink its referral program after SEBI’s October 2023 guidelines banned direct referral incentives. The company also faced high voucher wastage, limited tracking, fake referrals, and slow manual reward resolution, creating compliance, operational, and customer experience challenges.

Samco Securities Ltd partnered with Xoxoday Plum to automate referral rewards with real-time tracking, fraud detection, weekly voucher rollouts, and cost monitoring via reward links/API integration. The results included a 51.3% reduction in cost per lead, a 302.9% drop in cost per referral lead, ARPU rising from ₹40 to ₹83, voucher wastage falling from 50% to zero, conversion improving from 75% to 80%, and referral activity doubling while staying fully compliant with SEBI guidelines.

Samco Securities Ltd

Rahi Mehta

Lead Digital Revenue