Myntra CRM
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Myntra is India's leading online fashion platform offering over 2,000 brands. It uses CRM to improve customer relationships and retention. The Myntra app provides unique features like image search and push notifications. It also runs the reality show "Myntra Fashion Superstar". The app includes themes and click-through rates are low, with 13.4 million visitors but only 2.2% converting to sales. Myntra focuses on search engine optimization, email marketing, community engagement and quality customer service to improve sales and customer loyalty.
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Myntra CRM
- 1. Presented by : Aheli Sen Divya Agarwal Doel Majumdar Kamal Lochan Priyanka Mitra Vidhi Ashar
- 2. About • Myntra is India's leading online shopping platform for fashion brands and a pioneer in E- commerce. The Myntra marketplace boasts of a catalogue of over 2,000 top international as well as Indian fashion and lifestyle brands. • Myntra services over 19,000 pin codes across the country. and kids' clothing. • With the most extensive, in-season product inventory, 100% authentic products, a cash-on- delivery option and a 30-day exchange/return policy, Myntra today is India's preferred online shopping destination.
- 3. CRM • Customer relationship management (CRM) is an approach to manage a company's interaction with current and potential customers. • It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.
- 4. App Experience The app experience is the sum of interactions and feelings a customer has while using the app. Some unique features of Myntra’s mobile application include: Image Search • Whenever you find some interesting fashion, just click the photo of it, and search it on Myntra using its image search option. • This will show you all the related fashion products which are related to the products in fashion.
- 5. Push Notifications Push Notifications are messages sent by apps that pop up on user's device, and their function is to deliver information and improve engagement. There are various types of push notifications- • Sale & Offers push notifications- It reminds you to make a purchase before the sale/offer expires. • Reminder push notifications- It reminds you that your cart still has items waiting that have to be purchased.
- 6. •Myntra launched ‘Myntra Fashion Superstar’, the world’s first digital fashion influencer talent hunt; which went live on the Myntra app on September 17, 2019. •It’s a reality show, aimed at identifying and rewarding India’s next big fashion influencer in association with Zoom Studios. Myntra Fashion Superstar
- 7. Theme Store • Myntra theme store allows users to filter products according to various themes. • It includes everything from collaborations, handlooms, sports & party wear to beauty and makeup. • This theme store makes it convenient for the users to browse through various themes based on their choices.
- 8. Click Through Rates • Click-through rate (CTR) is the ratio of users who click on a specific link to the number of total users who view a page, email, or advertisement. • It is commonly used to measure the success of an online advertising campaign for a particular website as well as the effectiveness of email campaigns. • It can be seen as targeting & retargeting ads on other social apps, emails and SMS notifications.
- 9. Social Media- Facebook Retargeting SMS notifications E-mail reminders
- 10. Conversion Rate Ratio • Myntra.com is one of the largest e-commerce company in India. It is ranked 76 among the top websites in India. 13.4 million users visit this site every month. But, only 2.2% of these users buy products. • Traffic: 13.4 million visitors every month through SEO/Ads/Retargeting. • Signups: 87% of visitors stay anonymous. Only 13% of them sign up. • Engagement: 90% of registered users don't engage. Only 10% of them add products to cart. • Conversion: Of the 10% users who add to cart, only 2.2% of them buy.
- 11. Search Engine Optimization & CRM Most commonly known as SEO it is the process of optimizing your online content so that a search engine likes to show it as a top result for searches of a certain keyword. CRM is meant to help businesses better understand and connect to their customers. The software stores information about customers from their names and contact information to their previous purchases and even their social media activity. Three ways CRM software can improve your search engine optimization results : 1. CRM Can Record Keywords 2. Social Media 3.Blogging/Blogger Outreach
- 12. Myntra and SEO “Myntra, India's largest fashion e-commerce platform and it’s SEO agency , INFIDIGIT, have walked away with top honours at the Drivers of Digital, 2017, by winning the coveted Best Search Marketing Campaign Award.” • With Google making changes to its search algorithm almost every day, INFIDIGIT helps Myntra stay on top of things with a dedicated analytics and data-driven approach. • The SEO specialists at INFIDIGIT work with the digital marketing team at Myntra to ensure a top rank for almost all targeted search keywords for an extended period.
- 14. E- Mail Marketing “Email marketing is a way of promoting products or services through email. Email marketing is a top digital media channel and is important for customers’ acquisition and retention.” Benefits : 1. Targeted and personalized content 2. Better brand recognition 3. Boost sales 5. Build credibility 6. Stronger customer relationships 7. Click-through-rate (CTR) 8. Builds Excitement
- 15. Smartech addressed this challenge through : • Helps enhance delivery rate through Primary Inboxing, which helped increase the Click-Through Rates (CTRs). • Identified customer segments based on their brand affinity, gleaned from data regarding their interactions and transaction history. • Myntra was able to zero in on the right content and creatives for its audiences as well as identify the best times for sending their emails.
- 17. Community Marketing • Community marketing is a strategy to engage an audience in an active, non-intrusive prospect and customer conversation. • It focuses on the perceived needs of existing customers.
- 18. SERVQUAL Model Assured Delivery & Quality
- 19. 24*7 Response and Chatbots
- 20. Easy Returns • Myntra's returns and exchange policy gives you an option to return or exchange items purchased on Myntra for any reason within the specified return/exchange period. There are two ways to return the products : • Pick up: In most locations, it offers a free pick up service. You will see a pickup option when you submit a return request. • Self-Ship: If Myntra doesn’t offer a pick up at your location. In such cases, we will credit the shipping costs in the form of Myntra credits provided the product meets the return policy and you have shared scan copy of the courier receipt with us.
- 21. Payments And Cashbacks • My Cashback' will be replaced by PhonePe. PhonePe wallet can be used as a payment option on Myntra. • Myntra Credit 1. Refunds to Myntra Credit - You may take refunds of returned items. 2. Add a Myntra Gift Card - Add your Myntra Gift Card to Myntra Credit. 3. Top Up - You may top-up Myntra Credit by available online payment methods at Myntra App or Website.
- 22. Customization
- 23. • Focuses on customer loyalty • Establish and maintain profitability • Long-term relationship with customers • Direct response marketing campaigns • Emphasizes customer retention and satisfaction Relationship Marketing GIFT WRAPPING
- 24. 'Look Good Together' is a Referral Program which gives you an opportunity to invite your friends to the Myntra App. Both you and your friends gets rewarded through the Referral Program. Referral Code
- 25. Multi-Reward Events DOUBLE-REWARD EVENT Referrer and Referee will be get double benefits (Rs. 200, instead of Rs. 100) TRIPLE-REWARD EVENT Referrer and Referee will get triple benefits (Rs. 300, instead of Rs. 100) 5X REWARD EVENT Referrer and Referee will get 5x times benefits (Rs. 500, instead of Rs. 100)
- 26. Gift Cards
- 27. Sale & Discount Offers
- 29. Try and Buy https://www.youtube.com/watch?v=_u1vrb4f8bs • Myntra was the first online brand to introduce the concept of Try and Buy • Try and Buy allows for a trial of products before purchase • Gives conscious customers the privilege of ‘touch and feel’ factor • This distinct feature can be availed at no additional cost
- 30. • Myntra Insider is a customer loyalty program • It requires no membership fees • Early access to sales, • Priority customer support, • Makeover sessions, • Free shipping for first 30 days • Perks through BigBasket, BookMyShow, Zomato Gold, Hotstar, MakeMyTrip Myntra Insider https://www.youtube.com/watch?v=lpVVVO8s8M0
- 31. Social Media Marketing Giveaways – Myntra collaborates with bloggers and vloggers to do giveaways; vouchers or an assorted collection of items is promised to a certain follower who is hand-picked at random on the basis of some ground rules.
- 32. Sponsored Advertisements Myntra works on sponsored advertisements on Instagram, YouTube and Facebook (the top- notch social media trio) as well as in games, music apps, etc. They work with bloggers to advertise a new launch or provide a preview of their upcoming sale.
- 33. Contests Myntra runs contests on its Instagram handle and Facebook page for its followers to participate and win goodies
- 34. Content Marketing A blog post, a YouTube video. Content creators are paid to post a blog or a video to sell a new concept or a new fashion brand launching on Myntra. http://thesnobjournal.com/all-about-prints-2/ https://www.thestyledge.com/single-post/2016/1/4/All-About-You
- 35. Reference · (n.d.). Retrieved 11 12, 2019, from https://blog.expertrec.com/image-search-on-myntra/ · (n.d.). Retrieved 11 13, 2019, from https://indiantelevision.com/mam/marketing/mam/myntra-launches-fashion- superstar-world-s-first-digital-fashion-reality-show-190910 · (n.d.). Retrieved 11 14, 2019, from https://www.wordstream.com/click-through-rate · (n.d.). Retrieved 11 15, 2019, from https://strikesocial.com/blog/retargeting-social-media-ads/ · (n.d.). Retrieved 11 16, 2019, from www.guesswork.co/research/in/ecommerce/companies/myntra.com · Anonymus. (2017, Oct 30). businessworld.in/Myntra. Retrieved Nov 15, 2019, from businessworld.in: http://www.businessworld.in/article/Myntra-Scripts-Success-With-its-SEO-Agency-INFIDIGIT/30- 10-2017-129905/ · Ward, S. (2019, June 25). www.thebalancesmb.com/blog. Retrieved Nov 16, 2019, from thebalancesmb.com: https://www.thebalancesmb.com/email-marketing-2948346 · Demers, T. (2019, Aug 29). wordstream.com/blog. Retrieved Nov 16, 2019, from www.wordstream.com: https://www.wordstream.com/blog/ws/2015/04/30/seo-basics · (2019, 11 12). Retrieved from https://www.ndtv.com/business/myntra-introduces-try-and-buy-feature-1456567 · (2019, 11 14). Retrieved from https://blog.myntra.com/try-on-myntra-at-your-doorstep/ · (2019, 11 13). Retrieved from https://www.ciol.com/myntra-introduces-try-and-buy-try-products-before-purchase/ · (2019, 11 15). Retrieved from https://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/myntra- introduces-try-and-buy-new-feature/54206447 · (2019, 11 16). Retrieved from https://www.thehansindia.com/posts/index/Business/2017-04-06/Myntra-launches- campaign-to-promote-the-first-season-of-Big-Fashion-Gig/291595