Targeting as per cohort is the marketing mantra for Myntra now: Sunder Balasubramanian
In an exclusive chat with exchange4media, Sunder Balasubramanian, the new Chief Marketing Officer of Myntra, spoke about the platform's marketing strategies, & more
The online shopping industry has grown tremendously in the last few years especially fuelled by the pandemic when people had no other option but to order online. One of the many segments that grew at a large scale is the fashion & beauty sector, with many brands, e-commerce platforms and D2C platform entering the business. It’s interesting to see how these platforms are leveraging influencers and using them to their fullest potential. Myntra, being a new-age fashion platform, has also used the tool extensively.
Sunder Balasubramanian, the newly appointed Chief Marketing Officer spoke to us exclusively about what is the brand up to, the marketing strategies as well as how they are keeping up with various cohorts in a diverse country like India.
Excerpts from the interview -
How are you cutting through the clutter with the emergence of D2C brands?
The larger role that we are trying to play is to democratize fashion for consumers and one part of that is how you enable more consumers to be able to buy branded fashion versus unbranded fashion. In that larger journey, we believe that the more players will come, the more it will be beneficial for the consumers.
We have been looking at different consumer cohorts and understand what they need from fashion and provide them consistently
You involve a lot of influencers, and there is a lot of conversation on influencers losing their credibility. How do you leverage this kind of marketing and keeping the credibility intact?
The consumers seek authenticity from brands as well as the platform and that authenticity translates in different ways, one of which is celebrity endorsement as they want to know what their favorite movie stars are wearing and that is their inspiration for fashion. Some other customers get their sense of inspiration from influencers that they follow on social media. So it depends upon the cohort and we would utilize the respective ones. The role influencer play in social commerce is to aid shoppers. We have seen our traffic per live session continuously increase over the months and this is how we utilize influencers on our platform.
There is a lot of conversation about marketers not being able to understand the Gen Z cohort, what is your mantra to stay relevant for them?
I think as a marketer we go through this with every cohort. When millennials got defined, we had a similar situation about how we really understand them. As a cohort, Gen Z will continue to play an important role across all brands of all sizes. They are a cohort that are more uniform across the world and it is important to tap them, they are a quote for exceedingly fluid. While they may be rooted in India, they have an eye out on what's happening around the world so it's very important to tap into that aspiration of theirs.
Over the years what we have seen is that as long as you keep understanding their different needs and wants and you're able to vary that with the service that you provide it's the match made in heaven. A very strong part of our business comes from the Gen Z cohort, this is a cohort that is normally not very sticky, they flirt with their choices so we have been fortunate that they are sticking with us. The cohort looks for authenticity and I think that's where our social commerce please comes in, able to offer that authenticity without being very pushy, they relate to it and they find value in it.
Myntra has been doing a lot of association with celebrities, how are you going to leverage more with this?
It has been only three months since I joined and it’s been a big learning for me as it's the category that demands and requires a lot. When you ask people and consumers how they make their fashion choice, a very interesting start is what my favorite celebrities wear and what brands are they associated with. I can't see celebrities, and the category link is as stronger as it is for fashion where the consumers are looking for celebrities.
And that's why we are using celebrities to bring out those stories for us with this new campaign 'be extraordinary everyday'
https://www.youtube.com/watch?v=3L19mqT7xCE&ab_channel=Myntra
What are the three main marketing strategies that Myntra is going to use?
The marketing mantra is to always be in sync with what the consumer is doing. One of the other things that we do is tap into trends be it on social media or commerce. I really believe that commerce and content as a large bucket are going to be the future for both from a fashion perspective or even otherwise. One of the strategies that Myntra uses is to continue to
unlock more different growth opportunities. One example is the about daily fashion where people look out for looking stylish every day. Another example of this growth opportunity is workwear which has increased, there is a much more increase in casual work wear and that's where we are seeing 100% growth.
Since tier 2 and 3 cities are becoming deeper pocket business regions, how are you going to capitalize on them?
For Myntra, we have always had a very broad-based approach for consumer cohorts across the country. We get more than 45% of our big and important junk from tier 2 and 3 cities.
It gets customized to what each of them is looking out for when we go out targeting consumers from the cohorts. For example, the influencer that I use for Gen Z is probably different from what I use for ethnics versus what is used for South versus what is used for North. So we customize it as per the cohort. And this is what helps us get the loyalty and engagement that we have.
What are the new innovations that you are coming up with?
An important part of a customer's journey is to be able to aid discovery. Technology is helping and making the shopping process simpler for consumers. We have a sizing algorithm as well as an AI-based skin analyzer for consumers. We are working towards more technology in the future.
How can brands make sure that they are not coming across as forced on occasions like Women’s day?
There are many occasions in the country as well as festivals and these occasions become points of consumption which a lot of brands ride on and there is a commercial angle to it. I think from a longer-term perspective the world lens I use, are these opportunities for the brand to be truly more inclusive. If that is something you can leverage and provide and become a brand I think a brand can become better and serves a better purpose. Let's take an example, Women's day is not about making one brand video for that day it's about through the year how can you make sure that as an audience men, women and all kinds of cohorts that we have in this country are inclusive in the brand offering. If that is the larger piece you do, then on specific occasions you can go out and put the brand video and what you want to do.
As a brand builder, I would take the lesson of inclusivity and build that as the philosophy of the brand.
What is going to be the media mix of the brand?
It goes back to the consumer cohort which will allow you as a brand to make an impact on the target audience there are certain cohorts in the country where the TV will make more sense, whereas there a certain specific part where digital will make more sense. It boils down to who are you reaching and therefore that automatically helps you to make the choice. If a brand is unprepared about who they are going after, it becomes a question of grappling with A versus B but when there is clarity of this the brand is able to provide a solution for them and it is quite a sample to break down the medium that we need to use to reach to the consumers.
We use different channels like TV, influencers, commerce, and notifications on our app to cater to different consumer cohorts. For example, with Gen Z, I will use digital more and in digital also you can break it down to influences versus push videos.
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Aparshakti Khurana solves dressing dilemma with Siyaram
The influencer-led campaign for the clothing brand is targeted at young adults
By exchange4media Staff | Mar 30, 2023 12:12 PM | 2 min read
Siyaram’s has recently launched its first influencer-led campaign with youth icon Aparshakti Khurana. The campaign was conceptualized to persuasively promote the brand's classy and in-style range among young adults who prefer to look their best anytime they attend a special occasion.
To portray it effectively, the brand adopted an interesting marketing route by 1st launching a teaser on the brand’s social media platform ‘Aparshakti is in a dilemma’ to instill curiosity about the news. Followed by the influencer video that captured the actor at his film set in an all-decked-up attire of Siyaram after completing a shoot for his cousin’s wedding as instructed by his mother. The video beautifully captures its communication about how the actor trusts Siyaram’s when it comes to looking "The Best" at any wedding or event.
Prashant Awasthi, General Manager Marketing, Siyaram Silk Mills Ltd, said, “Curiosity marketing has the potential to entice untapped audience segments in today's world. Similarly, our intent with this influencer-led campaign was to tap into the younger segment of our TG and persuade customers to learn more about our range and offerings. With this campaign, we aim to convey our message to the youth, by roping in Aparshakti Khurana as his synergy blends well with our brand. With this inquisitive marketing approach, we were able to launch the campaign in style and with an interesting angle.”
Aparshakti Khurana, Actor, said, “Siyaram’s is not a new brand for my closet, it has been my partner for multiple events and celebrations before. Collaborating with the brand for its first-ever influencer-led campaign was a great pleasure. It is a delight to see Indian-origin brands like Siyaram’s marking their presence felt global and excelling in the fashion industry with utmost dedication.”
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Games24x7 curates lineup of IPL fan engagement campaigns for My11Circle in cricket season
The company has brought out three campaigns: 'Bade Se Bada’, ‘Locker Room Stories’, and ‘Out of the Park’
By exchange4media Staff | Mar 30, 2023 11:43 AM | 3 min read
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‘Sugar Cosmetics to double its marketing budget in FY24’
Suchit Sikaria, Chief Business Officer, Sugar Cosmetics, spoke to e4m on the brand’s digital marketing strategy, banking on fintech and more
By Kanchan Srivastava | Mar 30, 2023 8:48 AM | 3 min read
D2C beauty brand SUGAR Cosmetics reported a 70 per cent growth in FY22 sales. In the current fiscal, it has logged in over 90 per cent growth. And to continue this momentum, the brand has planned to double its marketing budget in FY24, CBO Suchit Sikaria said in an exclusive chat with e4m.
“Our expectations are to see the revenue grow two-fold in FY24. We aspire for 70-90% growth in the next fiscal. To achieve that, our overall marketing budget may go double in the coming fiscal year,” Sikaria said.
As per media reports, Sugar posted Rs 222 crore of operating revenue during the fiscal year ending March 2022, a nearly 75% increase compared to FY21.
Digital AdEx share
Fintech occupies 10 per cent of Sugar’s digital AdEx, said Sikaria. “The AdEx on fintech should go up in the future in terms of percentage as this platform is more controllable and dynamic and this cost is pretty comparable to other platforms (Google and Meta),” he noted.
As per Sikaria, the brand’s biggest advantage is that it spends on marketing on fintech platforms and that no one channel has the ability to scale up and return consistently.
“Each platform has a threshold. You have to leverage all platforms according to your needs and changing consumer dynamics. Marketing is primarily a balancing act.”
Asked how much the company spends on Google, Meta and other platforms, Sikaria said: “I may not be able to share the numbers, but proportion wise Google and Meta get about 40 and 40 per cent shares in digital AdEx, respectively. Fintech platforms get 10 per cent of the company’s digital AdEx, the rest 10 per cent is spent on other channels.” The company spends a sizable amount of AdEx on telecom operators and its own eCommerce channel as well, he added.
All three platforms deliver almost similar ROIs, he further said.
On fintech apps, the company’s marketing strategy revolves around discounts, coupons and prizes. “We recently launched two jackpots on PayTm. Over 70 per cent of the participants in the jackpots were new customers. Surprisingly, some of the winners of our make-up kits were men,” he quipped.
Asked how the company is utilizing the fintech platform's data for personalization, Sakaria explained, “We try to understand our consumers based on their transaction data on fintech apps. Then the offers are launched based on consumer cohorts and their demographic profiles.”
TV for overall branding
Sharing insights on being an omnichannel brand with a presence in traditional and modern trade, he said: “We have our own retail stores and an eCommerce channel as well. A sizable portion of our marketing budget goes to TV, mainly to represent the brand overall, not for D2C revenue.”
“As long as you get the ROI, you continue to invest in advertising and promotion. Instead of long-term investments, we have planned to spend in phases by figuring out what works and what does not for our products,” Sikaria explains.
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Akasa Air partners with WebEngage to enhance customer engagement
WebEngage will help Akasa Air engage with customers via personalised communication across multiple channels
By exchange4media Staff | Mar 29, 2023 2:20 PM | 1 min read
WebEngage has announced that it has partnered with India’s newest and most dependable airline, Akasa Air. In line with its strategy to build a tech-first and customer-centric organisation, Akasa Air has deployed WebEngage’s marketing automation platform to enhance its customer engagement strategy.
WebEngage will collaborate with Akasa Air to deliver unparalleled customer engagement across its web and mobile channels with relevant, personalized and contextual communication.
Commenting on the partnership, Belson Coutinho, Co-Founder and Chief Marketing & Experience Officer, Akasa Air, said, “We are pleased to partner with WebEngage and leverage its cutting-edge marketing automation platform to build brand loyalty, increase customer engagement and drive conversions with one-on-one communication. Akasa is hyper-focused on customer centricity, and the platform will enable us to leverage real-time analytics to connect with users on a channel of their choice.”
Avlesh Singh, Co-founder & CEO, WebEngage, said, “Akasa Air has a unique approach towards its customers which stems from the brand’s values and a customer-centric approach. WebEngage’s retention platform will facilitate Akasa Air to replicate its on-ground and inflight experience across all its digital touchpoints through our smart, data-driven and fully automated retention platform. We believe that Akasa Air is here to transform customer experience for the airline sector and we are delighted to be their partners in this journey.”
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Sachin Tendulkar, Anil Kumble & Yuvraj Singh are squad goals in Spinny's newest
The cricketing greats have come together for Spinny's IPL campaign
By exchange4media Staff | Mar 29, 2023 2:03 PM | 1 min read
Have you seen Sachin Tendulkar’s latest Goa pictures that took us back to 2001 when the movie “Dil Chahta Hai” was released? The master blaster took to Instagram to share an epic picture with Anil Kumble and Yuvraj Singh in Goa and wrote "Our Dil Chahta Hai moment in Goa! Who do you think is Akash, Sameer, and Sid?". The post took no time to go viral online and saw many brands and celebrities guessing if it was for an IPL campaign, a vacation, or something else.
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While it went viral, the curiosity amongst netizens about the pictures was decoded by Spinny sharing a post where Sachin is calling out to Yuvraj and Anil Kumble. While the full details are yet to unravel, it looks like Spinny has brewed something up with the trio on their throwback to “Dil Chahta Hai” moments.
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Samantha Ruth Prabhu invests in superfood brand ‘Nourish You’
The brand is backed by Zerodha’s Nikhil Kamath, Darwinboxs’ Rohit Chennamaneni, among others
By exchange4media Staff | Mar 29, 2023 1:59 PM | 3 min read
Nourish You, India’s maiden brand to get quinoa and chia to the country and consequently, the first homegrown superfood start-up, has announced that actor Samantha Ruth Prabhu has invested in the company.
As the first to retail homegrown quinoa and chia seeds in India, Nourish You continues to lead in promoting locally-sourced and sustainable superfoods. Samantha Ruth Prabhu's investment comes as part of Nourish You's seed funding round, which had earlier attracted pedigreed investors, including Y Janardhana Rao of Triumph Group; Rohit Chennamaneni, Co-founder, Darwinbox; Nikhil Kamath, Co-founder, Zerodha; Abhijeet Pai, Co-Founder, Gruhas Proptech; Abhinay Bollineni, CEO, KIMS Hospitals, among others.
Speaking on her investment in Nourish You, Samantha Ruth Prabhu said, "Investing in Nourish You was a natural progression since I have been consuming their products for a while. I was impressed by their story of bringing superfoods like Quinoa and Chia to India, growing them locally, and their product roadmap of millet based clean-label vegan superfoods. I believe that Nourish You can create value while making a positive impact on the health of consumers as well as the planet. I'm excited to partake in their innovative and sustainable approach to business."
In addition to her investment, Samantha has also launched Nourish You's first plant-based, vegan, and lactose-free milk alternative - Millet Mlk. The new product marks the company's foray into the alternative dairy category, and is an outcome of two years of research on innovative millet-based products undertaken by Nourish You. The United Nations had declared 2023 as the International Year of Millets and Nourish You is well-positioned to support the Government of India’s vision to make India a global hub of millets.
“We welcome Samantha to the Nourish You family; her thoughts on ancient foods are well aligned with ours. Her investment in the company is a testament to the products we have developed so far and the success we have achieved. We believe this partnership with Samantha will help us strengthen our position in the market as we unfold India’s superfood growth story.” said Krishna Reddy, Co-founder, Nourish You.
On introducing Nourish You’s Millet Mlk, Sowmya Reddy, Co-founder, Nourish You further added “I have been lactose intolerant since birth, and always saw my mother struggle to find non-dairy alternatives that were nutritious, delicious, and of good quality. This inspired me to join the development of Millet Mlk at Nourish You. The difficulties and challenges in finding dairy-free alternatives are significant even today and Nourish You’s Millet Mlk fills these gaps. The product is Nourish You’s commitment and answer to consumers like myself; it is nutritionally rich, tastes great, and 100% pure goodness.”
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Experts share insights on consumer trends, rise of e-commerce at HiveMinds e-com Conclave
Industry heads came together to discuss the e-commerce ecosystem in India, evolving consumer behaviour and more
By exchange4media Staff | Mar 29, 2023 1:28 PM | 4 min read
The next phase of e-commerce growth will come through personalisation, demand from Tier 2 and Tier 3 cities and the intelligent use of 1st party data. At the recently concluded HiveMinds E-commerce Conclave 2023, industry leaders from the e-commerce ecosystem in India came together to discuss what the consumers are looking for and how brands can deliver. The title sponsor of the event was Rocketium while the media partner was exchange4media Group (e4m).
In the panel on the ‘Importance of Data AI and tools in marketplaces’, Sripath Hariharan of Nivea India insisted that consumer trends cannot be overlooked. “In India, we will soon see the trends that are already prevalent in the global markets. Marketers should use the tools and Data AI to build campaigns and products for what tomorrow’s consumers will need”, he said.
Rocketium’s Karan Rao expressed that the consumers are now overloaded with information, so messages don’t register. He said the only way to get the message across is to personalise it and make it relevant for that user. He further added that data gives you the gift of time to study the trends and predict what will happen in the future.
In the other highly engaging debate on ‘Getting into the Mind of the Consumer’, Pooja Sahgal of Raymond Consumer Care said online marketplaces are a big brand-building opportunity. She opined that an integrated marketing strategy that intends to educate and engage a customer will go a long way in creating demand and fandom for online brands.
Rajeev Kohli, an e-commerce & marketing expert, mentioned how e-commerce platforms are now so important for fashion and beauty brands that marketers plan exclusive product launches exclusively for these platforms. “E-commerce can no longer be considered merely a platform to sell discounted products but rather a platform for learning about the future consumer”, Kohli said.
Abhishek Agrawal of Plum Goodness said that while the access and scalability of e-commerce marketplaces offer extended reach for a brand’s needs, for any brand, whether new or legacy, access to first-party data is paramount. It gives an insight into consumer and product feedback. Therefore, in his view, all CPG brands should focus primarily on their D2C website and m-sites. Brands’ digital assets are not only for selling but also for connecting with their users.
While discussing the impact of mega sales on e-commerce platforms on the panel ‘How to Get the Best Mileage from Online Sales’, CMOs of the leading appliance brands discussed the merits of launching innovative products during sale events.
Wonderchef’s Amit Tilekar pointed out that the data consumption per user has increased from 1GB per month per user to 13GB per month per user. “Continually exploring marketplaces is now a standard part of the user journey in buying appliances, so for brands heavily dependent on inventory planning, it makes sense to launch new products at least 45-60 days before sale events and observe consumer acceptance of products and cost. This way, such brands can better plan their inventory, sales targets, and marketing spends to maximise the impact during sale events”, Tilekar added.
However, e-commerce sales are not the answer to all scaling problems. Anand Dubey of Indkal Technologies noted that traffic on online platforms is significant during the festive season, and consumer intent to buy is even higher. Hence, the discovery-to-purchase journey becomes very short. He recommends that brands should invest during festive sales on e-commerce to convert users and build brand salience. He also reiterated the importance of inventory management: if a brand launches a new product during sales, predicting the demand and planning inventory becomes challenging.
Startup founders, marketing heads, and platform ad sales teams attended the event en masse. All delegates felt that the discussions, though very useful, were just conversation starters. There is a need for the industry to hold such debates more frequently to bring all stakeholders together to discuss and define the future of e-commerce in India.
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