Myntra is an Indian online Retailer of fashion and lifestyle products. It is headquartered in Bangalore. It was founded in February 2007. It is ranked in top 10 e-commerce companies in India. Myntra is successful in using social media network platforms like Twitter, Pinterest, Google Plus, and YouTube for promoting its brand and grow its consumer base. Facebook is always been famous for driving growth for business by promoting their brands. Myntra joined Facebook in the year 2007 and till now it has 2.8 million followers. Let us see how Myntra leveraged Facebook & generated 25% revenue. Let us look at the case study of how Myntra does this:
Myntra Objective using Facebook:
The main objective of Myntra using Facebook as a marketing channel is to procure more new customers, increase engagement with existing customers and create a strong brand credibility among the target customers.
What is Myntra’s Facebook Marketing Strategy?
Myntra’s Facebook marketing strategy is divided mainly into 4 parts
- Increase awareness of the new products to drive sales on the website:
When there are new brands introduced or any new products introduced related to fashion or lifestyle, Myntra broadcast that on the Facebook, the followers of Myntra comes to know about it and in this way it increases the brand awareness. If the product wows them then they visit the website to view the product specifications like price, colour, brand etc., those interested will buy online from its website and further it leads to the sales on Myntra’s site.
- Build brand loyalty through responses of customer service inquiries:
It is always good to acknowledge the customers and give them the timely reply for their enquiries, the concern raised. Giving the response to their customers brings the trust in the brands and a feel good factor. Myntra is good at doing this, they always provide timely response to its customers, whether it may be feedback or complaint or any suggestion, they believe in quick response, that is the reason people have felt good factor and build faith , they feel satisfied when the concern is answered and further it has built the brand loyalty for Myntra.
- Launch exclusive promotions and contest for fans:
Fans always find it entertaining to participate in the contest, to answer the poll questions and are always eager to find promotional offers from their favourite brands, Fans always likes to be involved in all such activities. They feel that they are the important part of the activities taking place. Myntra is doing this frequently. It publishes discount coupons, run polls and contest for its fans and always keeps them engaging in an entertaining way.
- Install social plugin on website to increase traffic to Facebook page:
You can add social media plugins to your website to drive the customers from your website to the social media network. When clicking on that plugin it redirects you to the particular social networking page of your site. Myntra installed the Facebook plugin on its website which helped to drive traffic to the Facebook from its website.
Myntra Facebook Ads strategy:
Let us see what Facebook Ad strategy Myntra has built
- Target the exact demographic of potential active buyers on Myntra:
Myntra is very good at targeting its potential customers, demographics includes age, gender, location, etc. Myntra knew who exactly their potential customers are. With the help of Facebook they targeted the people who are interested to buy products online within the specific cities, hence they did the right targeting approach which helped Myntra to increase its sales.
- Increase the number of Fans on Facebook page:
They run the advertisement, promoted its post and in this way it increases the number of fans. Myntra also do remarketing for its potential customers, Remarketing strategy is applied by Myntra whenever someone visits its site and there is some activity done, hence it is a great chance that customers rethink over the product and it can convert into the potential leads.
- Reach friends fans using sponsored stories to become fans of this Facebook page:
Sponsored stories are one type of Ad which Facebook offers. It displays the recent interaction with your brands on your friends feeds in the form of advertisement. It acts like the connection between you and the brand which influence the friends of the fans to view the brand page for more interaction. Myntra runs the sponsored stories and it is successful in reaching the fans of the friends.
What Myntra achieved using Facebook Marketing Strategy?
- Here are some of the outstanding Results that Myntra achieved with its Marketing Strategy:
- It earns 25% of revenue which is directly attributable to Facebook
- It has 120% of increase in transactions which is originating directly from Facebook
- It has increased 75% of total website traffic which is directly through Facebook
- Using Facebook it has increased 300% reach among Facebook fans
Manu Prasad – the head of Social Media – Myntra said that it is using social media to enable various functions like customer support, marketing the product, content marketing and sales to a certain extent as a separate entity. He further says that from a media standpoint, it is very important, as it is not only about broadcasting things, it also involves customers talking directly to us, about us, basically interaction with customers which is happening in a real time using social medium as a channel.Myntra earns healthy ROI through Facebook.
It is not necessary that the strategy which works for Myntra applying same strategy will work for your brand, it is an illustration of how one can build brand using Facebook and can apply the strategy in same lines, you have to be smart enough to draw the lines and know what will is the best fit strategy for your brand and have to work on those lines to make it more effective. But yes we do agree by looking a Myntra Facebook strategy is outstanding which if you follow will definitely boost your sales.
Image Credits: Myntra