What forced Myntra from a small B2B startup to become India’s number one fashion portal today? Launched in 2007 by Mukesh Bansal, Vineet Saxena, and Ashutosh Lawania, Myntra initially focused on selling customized gift items and later changed its strategy in 2010, to support the growing trend of branded apparel through the Internet. Today Myntra has an operating revenue of INR 43,75,000 billion in 2023 and it is associated with more than 50,000 brands and pin codes of more than 27,000 across India.
What was interesting wasn’t that the company decided to shift this way toward e-commerce and online shop selling but that it wanted to achieve hegemony in it. From landing a record-breaking $375 million acquisition deal with Flipkart in 2014 to supporting the government initiated campaign for promoting handloom industry in India alongside the Ministry of Textiles in the same year, the strategies of Myntra depict the company’s appreciation of market trends and the demands.
While moving to Myntra’s Marketing strategies below, let us also decide the marketing strategies that where to look at the 4Ps Strategy of another all familiar name to us, Parle in the next slot. That is, how are these strategies integrated? Let’s find out
4Ps Strategy of Myntra
Now, let’s break down the 4Ps of Myntra’s marketing framework that make it a standout name in the online fashion industry.
Product
When it comes to Myntra, you see the fashion and lifestyle store that perhaps, has more neighborhoods than your city! This is especially true whether you want to dress up in some cool western wear or some ethnic wear. But it’s not only about wearing a shirt or pants. Myntra also dresses up your home in fashionable home products such as bedsheets, curtains, and carpets and not to mention the beauty dock – which is a collection of all your provisions from soap, lotion, foundation and up to perfume. Also, it is not merely a market place but an individual designing company through its brands such as Mast & Harbour, HRX and Roadster. And it is also as if they have tried to cover all possibilities of making you look stylish, don’t you know?
Price
Myntra employs a variety of pricing strategies to cater to diverse customer needs, ranging from budget-friendly items to premium options. The platform’s pricing often considers cost, value, and competitor-based factors to balance affordability and exclusivity. Regular discounts, promotional offers, and perks for Myntra Insider members provide added incentives, enhancing the shopping experience with opportunities for savings and exclusive deals.
Place
The way of operation of Myntra is like going through the most preferred vacation spot where everything trendy is round the corner. Except for all of this, it is on the internet and within the reaches of your hands. Their website and mobile app are for shopping convenience for easy surety and stylish shopping experience but if you have such options of payment like online payment or cash on delivery they ensure that your shopping is as easy as a walk in the park.
Promotion
Myntra knows how to spread the word about their great collection of products. Having a digital presence more fashionable than their clothes they use every gadget out there. That means innovative Google Ads, memorable display ads, strategic remarketing, and visually appealing social media ads that make you want to buy goods. But it’s not all just ads. Apart from providing a platform to buy clothes, footwear and accessories, Myntra also provides you with this awesome content about style guides, tips, and articles on fashion trends.
Myntra’s Email and SMS Marketing
Myntra’s email marketing strategy is a cornerstone of its overall digital marketing efforts, designed to drive sales and foster long-term customer relationships. Leveraging advanced data analytics, Myntra sends personalized emails that resonate with individual preferences and shopping habits. Each email is crafted to enhance the shopping experience, featuring elements such as:
- Order Confirmations: Immediate updates post-purchase that enhance customer trust and satisfaction.
- Product Recommendations: Curated picks based on past purchases and browsing behavior, aimed at increasing the relevancy of offers.
- Sale Alerts: Timely notifications about upcoming sales and exclusive deals to keep the excitement alive and prompt quick action.
- Newsletters: Regular updates that keep customers informed and engaged with content not just about products but also trends, style tips, and more.
- The inclusion of visually appealing graphics, engaging copy, and clear call-to-action (CTA) buttons ensures each email not only captures attention but also encourages further interaction, making the shopping process seamless and enjoyable.
Targeted Promotions and Offers
Myntra’s promotional emails are designed to convert. By offering irresistible discounts and personalized bargains, these emails create a sense of urgency, compelling users to take immediate action—whether it’s to snap up a limited-time offer or revisit an abandoned cart. The copy is crafted to be action-oriented and persuasive, directly speaking to the benefits that resonate with each recipient, thereby increasing the chances of conversion.
Expanding Reach with SMS and Push Notifications
Complementing its email efforts, Myntra utilizes SMS and push notifications as integral parts of its multi-channel communication strategy. This approach ensures maximum reach and engagement, providing instant updates directly to the customer’s phone. Whether it’s a flash sale or an announcement of new arrivals, these messages are tailored to catch the user’s attention at just the right time, enhancing both customer experience and sales outcomes.
Integrated Marketing Communications
By integrating email with SMS and push notifications, Myntra creates a cohesive and consistent brand message across all platforms. This not only reinforces brand recall but also amplifies the impact of their promotions. The seamless integration ensures that no matter the channel, the message remains clear and compelling, driving both engagement and sales.
Analytics-Driven Optimization
Myntra continuously analyzes the performance of its email and SMS campaigns, utilizing insights to refine and optimize future communications. This data-driven approach allows Myntra to better understand customer preferences and adjust their strategies accordingly, ensuring that each campaign is more successful than the last.
Social Media Marketing
Myntra has harnessed the power of social media marketing to establish itself as a leading fashion destination in the digital age. With a strategy that intertwines influencer collaborations and robust platform engagement, Myntra offers a comprehensive case study in effective social media use. Here’s how Myntra leverages social media to enhance its market presence and engage fashion-forward consumers:
Leveraging Influencer Partnerships
Myntra understands the influential power of personalities in the fashion industry. By partnering with a mix of high-profile celebrities and emerging influencers, Myntra taps into diverse audience bases. Their flagship project, “Myntra Fashion Superstar,” features industry stalwarts like Sushmita Sen, Manish Malhotra, and Sonakshi Sinha, and shines a spotlight on upcoming fashion talents. This not only amplifies their reach but also ingrains Myntra as a trendsetter in the fashion domain.
Engaging Content Strategy
Myntra’s social media channels are a gateway to the latest fashion trends and exclusive insights into the glamor world, curated to keep the audience engaged and informed. Each post is designed to reflect current fashion narratives and seasonal offerings, encouraging followers to stay connected with the brand for the latest updates. From showcasing new arrivals and exclusive collections to sharing fashion tips from influencers, Myntra keeps content fresh and relevant.
Promotions and Offers
One of Myntra’s key strategies to drive sales and engagement through social media involves posting regular updates about offers, sales, and exclusive discounts. These posts are timed around new launches and special events, ensuring maximum visibility and engagement. Myntra also utilizes features like Instagram Stories and Facebook Live to announce flash sales or limited-time discounts, creating a buzz and urgency that drives immediate responses.
Multi-Platform Presence
Since its inception in 2007, Myntra has been active on major social media platforms including Facebook, Instagram, Twitter, and YouTube. Each platform is utilized to target specific segments of its audience. Instagram for the younger, trend-conscious crowd; Facebook for reaching a broad demographic; Twitter for instant updates and customer service; and YouTube for in-depth content like DIY fashion, styling tips, and behind-the-scenes footage.
Interactive Campaigns
Myntra engages users with interactive content such as polls, quizzes, and challenges related to fashion. These activities not only enhance user interaction but also foster a community of fashion enthusiasts who feel a part of Myntra’s extended family. It allows the audience to voice their opinions, preferences, and feedback, making them feel heard and valued.
Analytics-Driven Approach
By employing sophisticated analytics tools, Myntra monitors the performance of various types of content and campaigns across different platforms. This data-driven approach helps in understanding consumer behavior, optimizing content delivery, and ensuring that marketing efforts are aligned with user preferences and trends.
Myntra Studio
Myntra Studio is not just an application that allows users to share the content of their liking but a fashion application tailored to the user’s experience. It helps users to become closer to those personalities and brands they like, as well as to read more about the new trends and get some advice from fashion icons. Myntra studio makes them all very easy to get no matter if you want a stunning outfit worn by a popular influencer, an item of clothing or any indispensable accessory you have been dying to have.
Key Features of Myntra Studio
- Personalized Fashion Feed: To do so, customize your feed to add the influencers and brands that you like. Subscribe to it and receive fresh posts every day as well as professional advice that won’t be available anywhere else.
- Seamless Shopping Experience: See something you like? One button is for displaying and purchasing preferred items by influencers currently in promos.
- Save for Later: Not ready to buy? Remember the posts and review your decisions whenever the time comes to part with your hard earned cash.
- Engage and Discuss: Read posts and comments on selected topics, vote in Page polls, and respond to messages from other fashion enthusiasts.
- Myntra Studio M-Live: The Video Revolution in Fashion Realizing the role of video as one of the most important trends of online marketing, Myntra launched M-Live. This platform allows the fashion influencers and their fans to engage in live conversations by posting live streams which may include fashion collections and immediately answering to common questions on the screen. The integration of live video in the shopping process also increases the value of the shopping experience by making it lively, exciting and real time.
Benefits of M-Live
- Interactive Shopping: Audiences can buy the products being featured on the live stream without even having to exit the session.
- Real-Time Engagement: Take advice right on the specific clothes you intend to buy from the fashion influence of these social media platforms.
- Community Building: Join live chats and posts allowing the viewers to engage themselves and hence make a community of fashion lovers.
Myntra’s Marketing Campaigns
EORS Campaign :
End Of Reason Sale (EORS) had a highly engaging and innovative integrated marketing communication strategy with a major outreach of Bollywood personalities. These celebrities were included in twenty seconds television advertisements that featured on national and regional networks and stations, digital, and the online social media campaigns. It aimed to remind the public that Myntra is a leader in fashion and style by showcasing how easily one can elevate their look and make a statement in just seconds.
“Go For It” Campaign:
Samantha X Myntra – Go For It. This campaign was gender sensitive, aimed at reaching out to the extended Myntra audience by including both sexes with all body types included. As for the target audiences, the ad wanted them to realize that there are many fashionable clothes that they could buy at Myntra, thus they could experiment with their looks. This approach dovetails with Myntra’s current branding initiatives about making the fashion platform more inclusive for the masses.
#BeUnskippable Campaign:
The Myntra’s BeUnskippable Campaign was launched in 2019 and the main purpose was to establish Myntra as the true fashion destination. The central theme of the campaign was to engage people to upscale their dressing code since impressions are created within a few seconds. It included creating interesting content on social networks and using famous accounts to share information in the flow to attract more people and make the campaign popular.
“Be Extraordinary Every Day” Campaign
Its “Be Extraordinary Every Day” campaign, sought to get consumers to embrace their every day as a superstar through fashion. This campaign must have followed the same direction with friendly and easily identifiable messages with familiar faces which are called to use fashion to empower and express ourselves every day. Although more details regarding this campaign were not produced, this is typical of Myntra’s marketing strategy that aspires and encourages consumers to search for fashion in a unique and bold manner.
What’s New with Myntra in 2024?
In 2024, Myntra continues to enhance its fashion ecommerce platform with several innovative features. The company has expanded its ‘Myntra Minis’ short video platform, introducing over 10,000 new videos to aid in product discovery through engaging, educational content. Further embracing technology, Myntra now offers personalized AI-driven recommendations and a Virtual Fitting Room feature, enabling a more tailored and realistic shopping experience.
Myntra Studio has also been upgraded to include live fashion shows and interactive sessions, fostering a more engaging community environment. Additionally, the platform emphasizes sustainability with its new ‘Green Edit’ marketplace, featuring eco-friendly fashion choices.
Expanding its reach, Myntra has ventured into international markets in Southeast Asia and the Middle East, enhancing its logistics and customer support to ensure a seamless shopping experience. New partnerships with renowned designers and exclusive collections continue to make high fashion accessible to a broader audience, affirming Myntra’s commitment to innovation and customer satisfaction in the digital age.
