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Myntra’s Purchases Increase 3 times by InMobi’s Remarketing Campaign

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Myntra-LogoAbout the company

Headquartered in Bengaluru, Karnataka, India, Myntra is an Indian e-commerce company of casual lifestyle and fashion products. It was founded by Indian Institute of Technology graduates in the year 2007 with a focus on personalization of gift items. However, in next 3 years, Myntra shifted its focus to the online retailing of branded apparel.

Myntra’s merger with Flipkart

The success rate of Myntra was high and in May 2014, Myntra.com merged with Flipkart in order to compete against Amazon which entered the Indian market in 2013 as well as other offline retailers like Reliance Retail, Aditya Birla Group, and Future Group.

The merger with the e-commerce giant, Flipkart.com with the estimated deal of US $300 million (nearly INR 2,000 crore), the two companies were brought together to fight for its place in the Indian marketplace. This merger was influenced majorly by 2 common shareholders, Accel Partners and Tiger Global.

Myntra’s Initial Years

Being in the business of on-demand personalized gift items, Myntra was established by Vineet Saxena, Ashutosh Lawania, and Mukesh Bansal. During the initial years, it mainly operated on the B2B model i.e. Business-to-business. However, between 2007 and 2010, the online portal changed it to B2C and allowed customers to personalize products such as jigsaw puzzles, wine glasses, pendants, teddy bears, watches, calendars, mouse pads, mugs, and T-shirts.

The expansion of Myntra

By 2011, Myntra started to expand its catalog and included lifestyle and fashion products while moved away from personalization. The company tied up with numerous popular brands to showcase a wide range of latest merchandise from these brands. It offered products from 350 International and Indian brands by 2012. Soon after, the website saw the launch of the brand, Being Human, and Fastrack watches.

Till date, Myntra continues to operate and function independently so as to increase its market share from 50 to 70% of the market share. Recently, Myntra-Flipkart acquired Jabong too so as to be the king!

The helping hand to Myntra, InMobiinmobi_logo

Being a mobile advertising and discovery platform backed by Kleiner Perkins Caufield & Byers and Soft Bank, InMobi is one of the top platforms for e-commerce places. It helps consumers to discover new services and products by providing personalized and contextual ad experience on mobile devices.

Founded in 2007 in India, InMobi has 17 offices across the globe. This company has also won a spot in MIT technology Review for 50 most disruptive companies of 2013.

Business Objective of Myntra

The aim of Myntra is to help Indian customers stay fashionable by InMobi’s remarketing platform. The leading fashional and lifestyle mobile commerce app, Myntra, leveraged the InMobi remarketing platform in order to drive incremental sales from the app users across shopping times!

The objective of the company was:

  • To maximize the sales via mobile on the basis of reactivating dormant users, who hadn’t made a purchase in 7 days.
  • Also, the goal was re-targeting all mobile users on the basis of previous shopping behavior.

Strategies adopted by Myntra and InMobi

For reactivating dormant Myntra app users on android smartphones with ever-changing propositions that brought the best of Myntra to them, the strategies adopted were:

1. Segment based targeting by InMobi

On the basis of different segments like user-product affinity and the past purchase behaviour, InMobi targeted the specific segments of dormant customers. Following are the segments targeted by InMobi:

  • Demographic Segments
  • Accessories Shoppers
  • Footwear Shoppers
  • Apparel Shoppers
  • Merchandize Shoppers

InMobi also showed curated collections for shopping in full-screen floating, native, and interstitial banner formats.InMobi-1

2. Re-targeting all Myntra app users

In order to drive incremental sales from existing customers, Myntra along with InMobi re-targeted all the Myntra app users across iOS and android smartphones.

InMobi re-targeted all the app users with curated, and highly personalized product recommendations on the basis of previous shopping activity. Users were directly deep linked into the product detail page within Myntra’s app when they clicked on the ads. The retargeting campaign was then persistently optimized for performance gains.

Results achieved

The results achieved by Myntra through InMobi’s remarketing platform were:

  • $25 average order value (approximately Rs1,675)
  • More than 1,000 per day number of transactions
  • 7 ROAS (Return on Ad-Spend)
  • There was more than 3 times growth in transactions month on month

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“InMobi’s remarketing platform (powered by Miip), has delivered good results for Myntra’s mobile remarketing campaigns. The innovative creatives showcasing curated apparel collections for our customers have seen a positive impact on the ROI of the campaigns. The team has been instrumental in driving the improvements. We look forward to strengthening & scaling our relationship with InMobi as a strategic partner.” Arjun Choudhary, Associate Vice President – Head Growth & Sales, Myntra

With remarketing campaigns of InMobi, Myntra saw great results. It also became Myntra’s top mobile marketing partner after delivering huge transaction volume. Since the campaign had innovative and offered exclusive creatives, the remarketing campaigns saw high CTRs on the curated collections.

The ROI for Myntra was huge because of this campaign.

Learnings

  • Myntra by leveraging mobile ad marketing increased its results manifolds.
  • By understanding the behaviour and preferences of the users well, InMobi enabled Myntra by its remarketing campaign that helped it grow thousands times.

Myntra and InMobi’s approach of understanding the past behaviour of its users and their experiences was an interesting one which helped Myntra earn millions!

Have you come across any such remarketing campaigns that helped in such incremental sales?

  • mobile-marketing

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