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Mass media is trusted more: Mukesh Bansal, CEO, Myntra

09-March-2011
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Mass media is trusted more: Mukesh Bansal, CEO, Myntra

Online businesses often go through two rounds of advertising – the first one is online and the second one, after they’ve made a little progress, is offline. While it’s important for the sites to take this step to acquire new users, are they also spreading the notion that traditional media is a more effective advertising tool?

Myntra.com recently tied up with Maxus Bangalore for their advertising and is participating in a mass campaign. Myntra.com CEO Mukesh Bansal spoke to exchange4media about how they are investing in the mass media to reach out to new audiences and also the latest news from the company, like their World Cup tie-up with Nike.

Bansal said, “Earlier, we used to advertise online, we did a lot of SEO and SEM and display, but we’re now on print and radio ads as well. The RoI is a lot harder to measure, but I believe that there is good long term RoI, and particularly in combination with other mediums. The thing about mass media is that there is a lot of credibility, anyone can buy an online ad, but a print ad costs a lot more money. People are more likely to trust the offline ads.”

Myntra has also announced a tie-up with Nike to offer official personalised jerseys of the Indian cricket team for this ICC World Cup, available at Myntra.com. The company has a long history of collaboration with sports events, having done personalisation of cricket and soccer team jerseys for IPL and FIFA.

Bansal said, “Normally, we might see 15,000 to 20,000 sales, and around events like the World Cup, we can expect that to go up to 30,000. We’re selling almost 500 jerseys everyday, with the demand far exceeding supply. Fortunately, the event calendar is packed. The World Cup will end, but then IPL is almost right away there, so there is a lot for us to look forward to.”

eCommerce sites need to work with major brands to offer guarantees of fulfillment to buyers, but on the Internet, where everything is equally accessible, the offer of something special is what makes content and products stand out. That’s what makes Myntra work, and why it is one of the successful e-commerce sites in India – through the customisation of their products.

Bansal said, “We do a lot of things to help the logistics and keep the pipeline moving. For the last two years we’ve been slowly growing and it’s something all e-commerce companies need to keep in mind. Don’t look to get to a flying start, but take your time and get the basics right. Today, after the initial struggle, we’re doubling every two months, and now that we’re advertising on the mass media, I’m hoping we can bring in a lot of new users as well.”

 

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