The e-commerce sector has experienced significant growth in recent years, with online platforms proving to be a boon for consumers. The drastic shift towards online shopping has become increasingly pronounced, driven by the allure of diverse discount offerings and the convenience of hassle-free returns and exchanges.
Prominent online retail giants such as Amazon, Flipkart, and Myntra have garnered substantial popularity in the market. Joining the ranks of these industry leaders is Meesho, a new entrant in the e-commerce arena. Meesho distinguishes itself as a social e-commerce platform, offering an extensive array of products to cater to the diverse needs of consumers.
About Meesho
The appellation “Meesho” is a concise form derived from “Meri e-Shop,” encapsulating its core ethos of enabling personal online retail enterprises. As India’s pioneering social e-commerce entity, Meesho offers a robust platform for myriad small businesses to establish and thrive in the dynamic realm of online commerce.
Meesho empowers individuals not only to make purchases within its marketplace but also to engage in the profitable practice of reselling products from the comfort of their own homes.
This unique feature harmoniously integrates with various social media channels such as WhatsApp and Facebook, effectively transforming them into sales conduits. Notably, what sets Meesho apart is its commitment to ensuring that individuals engaged in reselling activities do not incur any additional financial burdens or expenses in the process. This distinctive approach not only simplifies the process of commerce but also renders it accessible to a wide spectrum of aspiring entrepreneurs.
Meesho, founded in 2015, is a pioneering venture established by Vidit Aatrey and Sanjeev Barnwal, who are distinguished alumni of the prestigious Indian Institute of Technology (IIT) Delhi. With its headquarters situated in the thriving tech hub of Bengaluru, Meesho was conceived with the vision of enabling small and medium enterprises (SMEs) to harness the power of the online marketplace.
The co-founders’ journey began with an aspiration akin to the successful models of Zomato and Blinkit (formerly Grofers). Their mission was to transition local retailers into the digital sphere, thereby extending the reach of these enterprises to a broader audience and providing them with the tools necessary to burgeon in the digital era.
This ambitious endeavor has since evolved into a prominent platform, empowering countless SMEs to expand their businesses and adapt to the ever-evolving e-commerce landscape.
Meesho : Marketing Mix
Meesho’s marketing strategy encompasses the fundamental elements of the marketing mix, commonly known as the 4Ps: Product, Price, Place, and Promotion. These key components underpin the company’s approach to engaging its target audience and promoting its extensive range of products and services.
The strategic use of these 4Ps underscores Meesho’s commitment to delivering a well-rounded and customer-centric experience, ensuring that products, pricing, availability, and promotional efforts align with the unique needs and preferences of its audience.
Product: Meesho boasts a versatile product portfolio encompassing various categories, such as apparel, home and kitchen items, technology products, and accessories. The company sources these products from a diverse array of suppliers, ensuring that it offers a comprehensive selection to cater to its customer base. Furthermore, Meesho prides itself on presenting a range of exclusive, proprietary products, enhancing its marketplace’s distinctiveness.
Price: Meesho does not directly establish product pricing, as it grants individual resellers the discretion to determine their own prices. Sellers typically assess various factors, such as cost, competitive landscape, and profit margins, when setting their product prices. In an effort to engage both merchants and consumers, the platform periodically extends discounts and promotional offerings.
Place: Meesho primarily operates as an online marketplace and mobile application, serving as a connecting link between vendors and customers across India. Sellers leverage the Meesho app to showcase their products and facilitate sales to clients within their immediate vicinity or across larger networks. Meesho efficiently manages monetary transactions and logistics, streamlining the entire process of transactions and deliveries.
Promotion: Meesho employs a diverse array of promotional channels to effectively reach its target audience and endorse its range of products and services. The company leverages social media marketing, digital marketing, and offline partnerships to establish a robust presence among its intended demographic. Furthermore, Meesho organizes contests and promotions designed to generate enthusiasm and a sense of anticipation surrounding its brand.
Marketing Strategy
Meesho possesses an extensive network of over 1.1 million suppliers, a testament to the platform’s impressive scale and reach. Notably, Meesho achieved the distinguished status of a “Unicorn” company in 2022, a significant milestone that attests to its strategic planning and stupendous marketing strategies.
Below, we enumerate several of the key marketing strategies that have contributed to Meesho’s remarkable success:
Niche Based Strategy
Meesho’s primary marketing strategy revolves around a niche dedicated to the empowerment of women. The overarching objective of Meesho is to foster a sense of self-reliance and autonomy among women. In particular, it seeks to offer substantial advantages to women who are homemakers and may otherwise be lacking in financial independence.
Central to Meesho’s strategic modus operandi is the creation of a specialized niche within the market.
This niche is meticulously designed to provide women with viable business opportunities within the comfort of their homes. By doing so, Meesho empowers women to embark on their entrepreneurial journeys without necessitating substantial investments or enduring undue complexities.
This approach not only unlocks economic potential but also promotes self-sufficiency and financial empowerment among women, thereby advancing our broader mission of inclusivity and independence.
Social Media Marketing
In an era characterized by rapid digital transformation, individuals have increasingly dedicated substantial portions of their time to online platforms, particularly within the realm of social media. This trend has not gone unnoticed by Meesho, which actively participates in the sphere of social media marketing.
This strategy serves to establish a meaningful connection with the target audience by actively engaging in various collaborative efforts, campaigns, as well as the creation of visual content, including graphics and videos, all aimed at enhancing the visibility and recognition of the brand in the online domain. This diligent approach is employed to bolster and cultivate the organization’s digital presence.
Search Engine Optimization (SEO) Strategy
Meesho’s SEO strategy is painstakingly crafted to enhance the visibility of its website and content by optimizing them for pertinent keywords. The objective is to secure prominent positions in search engine results pages (SERPs) when users search for these specific phrases. In addition to keyword optimization, Meesho implements a comprehensive array of SEO techniques designed to bolster the authority and ranking of its website, further augmenting its online presence.
Distinguished as the preeminent retail enterprise in the nation, Meesho consistently attracts an impressive monthly traffic volume exceeding 30.3 million visits. Its substantial annual revenue surpasses the $200 million mark. In the competitive landscape of web traffic, Meesho proudly holds the 103rd position in the nation in terms of site visitors and the 11th position within its specific industry.
This remarkable feat is indicative of Meesho’s gradual ascendancy in the market, characterized by increasing popularity and heightened user engagement. Visitors spend an average of 3.59 minutes on the platform, underscoring the captivating content and user experience. Furthermore, the platform maintains a bounce rate of 51.69%, a testament to its ability to retain and engage its audience effectively.
Target Marketing
Meesho adopts a strategic marketing approach that prioritizes launching targeted campaigns primarily directed towards women. The company has successfully established a unique and specialized market presence, specifically designed to empower women by offering accessible business opportunities from the comfort of their homes.
With a minimal investment of both time and resources, Meesho enables women to establish their own enterprises. Meesho’s commitment to feminist principles has garnered considerable acclaim. By implementing a precise target marketing strategy, the company has not only effectively reached its intended audience but also fostered the growth of its business. As a result, Meesho stands today as one of India’s leading e-commerce enterprises, poised for further expansion and continued success in the future.
Influencer Marketing
Influencers possess a substantial capacity to engage with a dedicated audience. The association of a brand with an influencer can be instrumental in fostering trust and credibility among consumers. Meesho, in particular, places a significant emphasis on the incorporation of influencer marketing within its overarching marketing strategy.
Meesho has strategically leveraged influencer marketing as a pivotal component of its promotional endeavors.
Eminent influencers such as Abhinav Singh, Garima Chaurasia, Khushi Chaudhary, and Anisha Dixit have been enlisted to endorse Meesho’s offerings. This strategic collaboration serves to not only amplify Meesho’s brand presence but also expand its reach by captivating a wider and more diverse audience.
Youtube And Facebook Ads
Advertising is an indispensable tool for promoting and elevating any business in today’s dynamic marketplace. In line with the contemporary landscape of digital marketing, Meesho strategically leverages the power of YouTube and Facebook advertising to enhance its brand presence.
The utilization of YouTube and Facebook advertisements has proven to be a pivotal instrument in fortifying Meesho’s market position. Notably, YouTube boasts an expansive and diverse demographic audience, offering a vast potential for brand exposure. This strategic approach ensures that Meesho’s content reaches a wider array of viewers, thereby augmenting its brand visibility.
When a viewer engages with these advertisements by clicking on them, they are seamlessly redirected to the Meesho website or mobile application.
This seamless transition not only enhances the user experience but also facilitates the generation of valuable traffic to the company’s digital assets. It is worth highlighting that this tactical approach has yielded considerable dividends, significantly bolstering Meesho’s overall marketing performance.
Meesho’s Traffic Sources
Meesho’s primary emphasis within its marketing strategy lies in cultivating direct traffic, representing a substantial 52.03% on average. In addition to this, the platform also garners an appreciable 37.71% through organic search, further reinforcing its online presence. Complementing these key sources of traffic, Meesho adeptly leverages social media channels, which contribute 3.73% to their traffic generation.
Furthermore, the platform effectively utilizes email marketing to secure an additional 1.07% of their traffic, while referrals and display ads account for 0.18% and 0.09% of the total traffic, respectively.
This diverse blend of traffic sources collectively fuels Meesho’s robust online marketing endeavors, enabling the platform to reach a wide and engaged audience.
Conclusion
Today Meesho stands as one of the foremost online retail platforms. This stature has been possible because of the assiduous marketing strategies and conscientious feminist approach aiming diligently at women empowerment through making them self-reliant and financially secured. Meesho’s robust advertising techniques and pronounced social media presence have rendered it an irrefutable footing in the realm of e-commerce. Meesho’s thriving influence in the ever-evolving environment is unequivocally commendable.
