BrandDigi

blog on "inbound marketing & conversion optimization"

Will Myntra’s app-only gamble pay off?

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With the latest news that Myntra – the largest online fashion retailer in India is going to shut the traditional shop from 1st May 2015, it has become imperative to go back to the online retailing industry with the latest statistics and analyze the impacts.

Flipkart had acquired Myntra in 2014 and Mr. Bansal is the CMO for the Flipkart/Myntra business. As per figures quoted, Myntra acquires about 80% traffic and 70% sales from the mobile platform.

Does this translate to the fact that rest of the traffic, which is 20% that is responsible for the rest of the 30% sales shifts to the mobile platform or Myntra ends up losing revenue partly (from those who do not convert)?

Becoming the only mobile app-based retailer could be a pioneering step but at what cost? If this experiment succeeds, will Flipkart follow suit?

Let us look at some statistics:

  1. India has about 405 million unique mobile subscribers as of now and over 60% of them use mobile internet. That brings the figure to about 240 million.
  2. Smartphone prices have dropped and about 70% Smart phones sold in India last year are in the sub $200 category.
  3. About 13 to 14% Indians research products on laptops/ desktops before making an online purchase decision and about 9% do that on a Smartphone or a tablet.
  4. 71% of mobile users prefer researching using a browser and the rest 29% use mobile apps to do the same.
  5. Indian ecommerce market is slated to grow to 1 lakh crores by end of 2015.

Going by the above statistics, the market has a long way to go, assuming that the online retail market caters to only 0.6% of the total retail industry in India.

 

Is the move by Flipkart/Myntra alliance -

flipkart-myntra

  1. Futuristic: Yes, in the sense that the rigmarole of browsing and choosing is a waste of time and in the consumer knows what he wants, it is easier to buy on a mobile app, since it is faster and saves resources.
  2. Secure: With more and more security features being ramped up, it will be safer using the mobile app instead of a browser.
  3. Smartphone: Penetration has certainly gone up and is going up daily, but we need to look at preferences. People who have been using smart phones forever also do not use it to shop.

Challenges:

  1. Getting the word across: Myntra would need a giant advertising campaign to get the message across, which, I guess is already underway.
  2. Getting people to use the app: Well, this is entirely is a personal choice, given me, I would not use a Smartphone to buy anything, the reasons being smaller display for merchandise, not used to it as a habit.
  3. Limitations: Smart Phone usage pattern is unique to everyone, so is browser usage, however, Myntra is changing a tradition. Considering that most high value purchases are made in the 30-50 age groups (approximately), changing their buying habits is a difficult task. Also, while buying gadgets and high value items, Indians have just shifted from traditional to online mode.
  4. Target: For the target audience that looks at fashion and at younger age, this could be a hit, but since Flipkart also deals in many other things, it may not follow suit. It will all depend on how the Myntra experiment goes in the shorter run.
  5. Internet: With internet usage rising steadily, this move could be good, however connectivity issues in rural areas persist. While downloading the mindset of the user is positive, but once it fails for some reason, the mindset could turn negative.

The big question is “Is the online shopper ready to make the transition?” Or will he/she opt for the competition as long as it exists, in the present browser based mode. Considering that the prices, coupons, deals, merchandise and other factors remain competitive, the biggest question is “Why should a user change his/ her buying habits when don’t get an advantage?” The closing option is a critical one, and cannot be ignored, given that the Indian consumer is a more cautious one.

Will Myntra offer new sops/ better discounts?

myntrapic

Or, will it ride on the singular pioneering effect that this move is going to usher in?

Being the first to set a trend, Myntra might be taking a small hit as far its sales go and this move may also erode its market share. However, we do hope this works in the long term to save costs and effort.

All we can do is wait and see, how Myntra grows, how the shopper changes and how this move effects the entire Indian online shopping niche.

If you have a different take on this new development, please feel free to comment or contact us

How to make money out of events ?

monetizing1

In the last few days, I had the opportunity to attend different kind of events: 1st crowd funding conference in India, BNI NETWORK meet, Dr Design launch by Hysea, HDCF’s panel discussion on 2015 Budget, and Rodinhood Open House. The last one in Mumbai, and all others in Hyderabad itself.

Suddenly it struck me that a lot of events are being underutilized of its opportunities, they themselves are creating.

We here briefly look at some of the avenues that are best leveraged:

Self promotion by organizers:

selfUndeniably, the organizers must use each event to grow bigger, from strength to strength. Leveraging current membership to increasing new members.

For that, they must cite a few advantages that non-members missing, and how the forum/organization is going to be more relevant time & again!

To give good mileage to all sponsorers:

sponcers

Getting sponsorship for any event is difficult, unless the would be sponsorer sees reasonable value in return. No one wants to give away anything for free without any expectation in return.
The key is to make a good proposition they can’t help but take.

Also if the past sponsorers are not coming back to do again, that’s dangerous. That means they have not got what they expected previously. And hence they don’t see any meaning to help you further, in the upcoming events.

If you get a few repeat sponsorers, your job becomes a lot easier in conducting future events. Ideally sponsorers to compete, to contribute their best!

Though difficult, the event organizers must be able to define the RoI for them, and in metrics that interest them, even if they dont ask explicitly.

Souvenirs/ Swag:

Souvenirs

This makes attendees remember the event & the organizers for sometime, as long as it offers some value / service.

Also this presents a lot of branding / marketing opportunities, the organizers can sell to sponsorers & other vendors.

And often this may not cost much, and it’s more of a project management.

 

 

Feedback forms

feedbackAlong with souvenirs, if feedback forms are given, you have best chance of getting some very useful info….from participants.

 

 

 

 

 Membership forms

membership
If your goal is increase membership, apart from making the event successful, adding membership form helps.
Also it gives enough info to people who like to join later. That’s indirectly preparing them to be member.

 

Message from Stage

message
In any event stage or dais is the most important place, and centerpiece of attention for all. The program schedule must be planned in such a way that, there’s slot intended for supporting the organizations goal, and the communication to be perfectly crafted marketing pitch, and it should be brief.

This must be
Not too obsessive, but a must : a subdued, but uncompromising, well planned communication

Other monetizing / money making opportunities:

monetizing1

Like in-film advertising, in-event partnerships to be considered.
A lot depends on quality & quantity of crowd you are able to pull for the event, and how you negotiate with vendors etc.

Some Donts:
photos of core members, or special privileges to them – it makes all others outsiders or feel abandoned etc while Group photos of whole attendance might be good ideA.
Also honoring one two people of the organization helps indirectly sell the organization to new as well as to the existing members.

Ideally there is a lot more you can do, by letting your creative juices flow.

Hope this article makes you think hard before planning for your next event, and would be delighted to know any feedback. Thanks for your time.

3 websites could have made User Experience a lot more sense !

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Website is any business’s best marketing tool, no discussion required.

For businesses predominantly web based, website is nothing less than oxygen for life. But many companies, including some big blue chips,  have not been giving enough importance  to web design, that so directly impacts user experience, and hence business ( aka Revenue).

Here we had a look at some local Hyderabad based SMEs, how they are doing in terms of user experience design, of their websites, and also mentioned how we can help improve it.

GDH

www.GetDomesticHelp.com is new age site to help with attending to all domestic household work.

Logo is too much of ‘we’. It can be better as ‘we verify, train, and place’. Only a suggestion, we won’t go beyond that though, here.

This current site of getDomesticHelp.com is a far better in many aspects, compared to their old website.

The image (#1) on the home page  is misleading, to say the least, for a furniture site, and is not giving right message to visitors. Hence we proposed a  better image option, as shown.

Also the side box (#3), for choosing different help options, not all that great, and is actually confusing confusing. In our suggested image, we removed the two buttons at the bottom, that will make it simple to choose among the given options.

For an average person, who wants to have a view what‘s there before buying ( giving mail id /phone numbers) into something,  this will not look good! Hence suggest the site owners to allow visitors to have a glimplse of the kind of profiles they can choose inside, without revealing their identities/coordinates.

(#5)  ‘how it works’ was given major facelift in our suggested solution, which is more contextual.

 


gdh-theme

 

 

MeraEvents

Mera--Events

Here too, we identified a few, where it can make maximum difference for www.meraevents.com site visitors.

Total home page is outmoded, and redundant. The home page banners (#1) can be done splendidly, the menu (#2) at the top right corner, can be done away with.

The difference between Advance Search & General Search is silly. Menu-search box (#3) can be improved/optimized a lot, for look & functionality.

See how better the look & design, by addressing just these.

Also footer not used properly. Instead of bland footer (#6), we have done major change by making it look spontaneous & intuitive!

Hope the site owners will think seriously & make it better.

i-lend

i-lend.in is an innovative platform that promotes peer-to-peer lending, and this is again website-driven.

Their site has been the same for quite some time. I-lend.in requires too much info to be processed, while most visitors are not ready while browsing, even while making financial transaction !

Couple of points, from our quick observation of the website:

  • A lot of text is there, it should be reduced by at least 70%. (No one is reading that much!) This can be accomplished by moving all text into extensive terms & conditions sections.
  • You can increase your conversions by putting a simple 90 seconds animation video :  to show ‘How it works’ on home page.
  • ‘Discussion forum’ might be a better option, where all can come & discuss ( read relevant traffic), which can be easily moderated, as required.
  • Groups must be done away with. ‘Blog’ can also be removed, and the respective content can be under ‘resources’ , next to terms & conditions,andpress releases etc
  • Differentiation: Most important of all, peer2peer process has to be emphasised, told why/how it is a better option, in the light of existing bank, credit card, or other conventional options.

Trust the image suggested can make a lot of difference to the site’s user experience, and hence the positive vibes can mean an increased business.

  i-lend-in


 

Bonus

www.irctc.co.in

The site is sure to give you headaches, with multiple scrolls all over their home page. If not for the railways contract (& other similar) is exclusive, the site is sure to drive away most of its visitors.

Tolerance levels are very low for website visitors, especially if there’s another option that will become death-knell for this site. No doubt it must be losing crores of rupees by creating such pathetic UI/UX, and missing opportunities to leverage its current monopoly.

 

This has to be in brief article slightly covering a few SMEs, and IRCTC ( as it was recently in the news, as Government is looking to accelerate its growth).

Closing….

We believe these suggested changes can help a lot in spreading the word, and in leveraging the website.

We strongly suggest frequent optimization test process, to constantly drive website performance to the peak. Can contact us for further info reg the same.

Trust you find this article serves as a primer for UI/UX for novices and other businesspeople, and feel free to add if you think it will add more value to the discussion.