How Myntra Generates 25% of Revenue from Facebookcfcsoft
Facebook has remained a wonderful social technology that drives business growth since the time it is launched. Businesses can connect to the people through their Facebook pages and can reach people & their friends through Facebook ads and sponsored stories.
Many companies around the world have been making use of Facebook to increase brand awareness and sales for their business. Myntra.com is one of them.Let’s go through the success story of this e-commerce fashion retailer and see how it accomplished its goals through Facebook.
Myntra.com is an e-commerce fashion retailer at present. The online shopping platform established by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena in February 2007, is head quartered in Bangalore. The company is ranked among the top 3 e-commerce companies in India.
Initially when it was started in 2007, Myntra was in business of personalization of products online however after 2010 it repositioned itself and expanded its catalogue to retail fashion and lifestyle products.
Myntra .com had a few goals to be accomplished to have a thriving business for which it employed various channels, one of which is Facebook. In fact, the e-commerce fashion retailer generates 25% of its revenue through Facebook. Let’s see how
Myntra uses Facebook as a marketing channel to:
1. Acquire new customers
2. Increase engagement with existing customers
3. Create strong brand credibility among target customers
The strategy of Myntra.com for its Facebook page is comprised of four parts, which are
1) Increase awareness of new products to drive sales on website
2) Build brand loyalty through response to customer service inquiries
3) Launch exclusive promotions and contests to fans
4) Install social plug-ins on website to increase traffic to Facebook Page
Company’s objectives to be achieved through Facebook Ads are:
1) Target the exact demographic of potential active buyers on Myntra
2) Increase the number of fans on its Facebook Page
3) Reach friends of fans (using sponsored stories) to become fans of its Facebook Page
1) 25% of revenue is directly attributable to Facebook
2) 120% increase in transactions originating from Facebook in last 6 months
3) 75% increase in total website traffic from Facebook in last 6 months
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