While online platforms selling movie tickets have gained much popularity among movie-buffs, a humble startup is silently capturing a substantial share in the ticketing market and has become quite a known name amongst college goers. TheCollegeFever [TCF] is the first platform to have sold online a total of 4 lakh college event tickets so far. This is the go-to destination for booking events of IITs, IIMs and many prestigious colleges. Gross Ticket Value earned so far exceeds INR 10 Crore.
TCF helps plan, propagate and get sponsorship’s for college events, seminars and workshops. Quite popular among college cultural groups and committees of major Indian institutions, the platform’s undeviated focus on its target audience – youngsters and college goers – is paying dividends. The startup has registered 100 per cent growth YoY, since its inception in 2016. That’s been a constant for last three years and remains the target for the year 2018 as well.
The reach and footprint of the Bengaluru-based startup is also growing swiftly. From working with less than 1000 colleges in 2016, more than 2100 colleges now organize events and sell tickets through TheCollegeFever.
Our consistent strategic partnerships with prestigious college events of IIT Bombay, IIT BHU, IIT Rajasthan, IIM Bangalore, IIM Indore, NIT Tirchy and others prove that TheCollegeFever delivers value to college event organizers. Unlike other general event technology platforms, we have created a niche product that is customised to college event organisers. That’s our biggest asset.
Funded by Mumbai-based VC 11.2 Advisors, TheCollegeFever raised $250,000 last year.
Being a strong believer of a good product, I allocated a major sum for product development. And the strategy worked. With a seamless UI experience, the platform has become a big hit amongst youngsters. Colleges are using the features on offer and creating some of the most-talked about campus events in the country.
With almost 2100+ colleges partnered, 6000+ events organized and 4,00,000+ tickets sold over two years, the startup is an undisputed leader when it comes to college events’ ticketing.
Looking at the future, the company aims to grow by another 100% this year. The growth is targeted to be reflective in all terms including the reach, number of events, revenue and profits.
TheCollegeFever is a Bengaluru based platform for student communities based on college life and similar interests and helps them in Coordinating Fests, Conducting Workshops and Promotion for wide coverage and sponsorship’s. Founded by Kushal Arallihali, the platform has helped all the IITs, IIMs and various premium Universities and Campuses in better event management. For more information, please visit TheCollegeFever
Criteo, the leading commerce marketing technology company, launched Criteo Customer Acquisition [BETA] in India. As the second country following Australia in APAC to launch this new solution, it demonstrates the strategic importance of the Indian market and Criteo’s long-term commitment to the fast developing e-commerce market.
Criteo Customer Acquisition [BETA] helps retailers reach and target new customers using dynamic ads, presenting products most suited to a prospect’s current interests and tastes. With personalized product recommendations by granularly analyzing anonymized product categories and vertical signals across Criteo’s global publisher and retail network, it helps drive significant new revenue from shoppers with the high propensity to convert. Criteo Customer Acquisition [BETA] engages with new customers based on the intelligence of their historic shopping and browsing events, interests and likelihood.
According to the Criteo Customer Acquisition [BETA] Survey 2017, personalized product recommendations can unlock new revenue streams. More and more marketers allocate a significant amount of their digital advertising budget to paid display acquisition solutions. The survey report further highlighted that about 61% of global marketers spend over 30% of their budgets in paid display prospecting techniques to acquire new customers. Clearly, acquiring for new customers is not an easy task. In fact, 64% of marketers across the world feel that finding the right shopper is not easy.
Criteo Customer Acquisition [BETA] is designed to enrich Criteo Commerce Marketing Ecosystem, can discover new customers across a pool that covers about 72% of the world’s online shoppers. It also enables retailers to not only reach new customers with user-centric personalized product recommendations but also maximize their ROI by using a performance based acquisition model.
New Look, a leading UK global fashion retailer has achieved a staggering 62% customer rate since implementing Criteo Customer Acquisition [BETA]. In addition, personalized product ads based on each shopper’s interests and product category preferences resulted in 4 times more orders with a 74% lower Cost Per Order [CPO] for New Look, compared to other acquisition solutions.
Expressing his thoughts on the launch, Siddharth Dabhade, General Manager, Criteo India said
Online retailers are always looking for effective ways to unlock incremental new revenue and drive traffic from new shoppers to their websites. Criteo Customer Acquisition [BETA] will not only help them drive website traffic, but it will also enable them to overcome the challenge of reaching shoppers with personalized product recommendations.
We are proud to announce its launch in India, which is a key milestone for Criteo within our Commerce Marketing Ecosystem. Our total solutions will provide end-to-end service to retailers and help them acquire, convert and re-engage online shoppers relevantly.
Continuously uncover and target high-propensity prospects across a pool that covers 72% of the world’s online shoppers.
Distinguish new from existing customers across devices, browsers and apps with Criteo’s global, shopper-focused, identity graph.
‘Only reach relevant prospects who have a high propensity to convert for the retailer’s products, by granularly analyzing each shopper’s individual shopping patterns, product interests, and purchase intent.
Maximize acquisition rates and drive incremental sales by seamlessly engaging new customers across devices, apps, and browsers with products that match across the full spectrum of their shopping interests.
Increase ROI with CPC-based pricing, driving exposure to relevant prospects while incurring cost only when they engage with the retailer’s ads.
Work with a trusted partner that provides transparent reporting and supports industry standards for security, privacy, and brand safety.
Criteo the leader in commerce marketing, is building the highest performing and open commerce marketing ecosystem to drive profits and sales for retailers and brands. Designed for commerce, Criteo Commerce Marketing Ecosystem sees over $600 billion in annual commerce sales data. For more information, please visit Criteo
Social commerce is a trend that is sweeping the online world and transforming the way we do business online. At its most basic definition, social commerce is the facilitation of ecommerce business through social media and social networking platforms such as Facebook, Twitter, and Instagram.
Traditionally, social networking platforms were for sharing information and being nosy. This has now drastically changed, however, as businesses see these platforms as a potential tool to increase revenue and appeal to a wider audience – hence the creation of social commerce. This article looks at how social commerce is changing the world of online business.
A change in e-commerce platforms
Traditionally, ecommerce is carried out through dedicated websites. For example, you may log in to Nike.com or a third party retailer to make a purchase. Social commerce is changing this process. Users can now make purchases directly through their social media profiles, as there is no need to open up the suppliers’ website. You can do everything within the same browser, and be using the same social media site. Facebook marketplace, for instance, allows you to browse through various goods that others have posted and purchase them there and then.
A change in online payments
The way that we pay for goods is also changing. In ages behind us, you may have been able to add an item to your shopping cart, but then you may have had to visit a third party payment gateway, such as WorldPay, to process the payment.
Social commerce retail is all-encompassing. You can literally do everything within the social network site, including processing the payment. Typical accepted payment methods include credit and debit cards, and even digital payment methods such as PayPal and Skrill.
A change in customer service and interactions
Traditional online customer service involved several different methods of communication including email, live chat, and feedback forms. Social commerce has again opened up new possibilities and could potentially change the way customer service is carried out.
We are seeing an increasing number of businesses using social networks as a form of customer service channel, such as Twitter. Some companies respond directly to tweets from users, or directly to Facebook posts. This has given a more personal and direct feel to customer service.
A change in Digital Marketing
Finally, social commerce has brought a change in digital marketing. We are now seeing an increase in adverts and marketing through social media to advertise their social commerce products directly. We see many ad campaigns, paid advertisements, and direct social media posts such as Tweets, Instagram pics, Pins and Facebook statuses. Online retailers like eBay and Amazon use social media extensively to advertise all their promotions, so it’s pretty hard not to come across some sort of Amazon discount on their page at least once a week. In short, the methods of advertising have diversified and businesses have a greater number of marketing channels to use.
As you can see, social commerce has already made a huge impact. With more businesses starting to use this type of ecommerce, and more social networking platforms facilitating retail transactions, we should only see an increase in its usage. The infographic below provides some interesting facts and figures relating to social commerce
DhobiLite is the pioneer of on-demand laundry services in India and after expanding its services in every nook and corner of Delhi NCR region, DhobiLite is now inviting people for franchise opportunities.
Whenever we hear of franchise, first thing that comes to our minds is the hefty licensing fee and after that a feeling of skepticism that will franchisor provide support the franchise after receiving a big amount of money even before starting operations.
There are a number of companies offering franchise in Laundry business and all franchise models involve paying a huge amount of licensing fee and then subsequent payments during the life-cycle of franchise. More often these franchisors are themselves new and some even have not completed a year of operation.
DhobiLite having more than six years of experience in laundry segment has a different model of franchising where entry ticket to open franchise is small and subsequent payouts are based on Pay-as-you-grow model. DhobiLite views its franchise as partners in growth and if franchise succeeds than company succeeds automatically. Experience of more than 6 years in industry has helped them to develop a unique understanding of laundry process and have been able to bring gross profit margin at 38% which gives enough room of profitability for franchisee and franchisor. Small entry ticket and a low royalty fee of 8% gives the franchise owner a flexibility to utilize the funds for marketing which helps in scaling the business faster.
A very important aspect of any service based business is to deliver quality service every time and for this DhobiLite has used technology in day to day operations right from customer placing order to processing the order and then to delivery and feedback. With the help of this fully integrated in house developed solution, DhobiLite ensures that the franchise partner doesn’t have to worry about maintaining accounts or tracking orders or communication channel with the customer.
Depending upon the interest of business owner, DhobiLite offers a range from pure offline model franchise [in Delhi NCR region] to a fully owned master franchise. Each franchise model is uniquely designed after study of the demographics of the area, the geographical spread of the area and then arrive at the fee structure.
Criteo, the leading commerce marketing technology company, debuted findings from its Global Commerce Review, analyzing shoppers’ activities, behaviors and preferences across all devices and browsing environments. The report, which highlights a growing importance of mobile apps among shoppers, reinforces the ‘mobile-first’ mindset, and will help inform omnichannel commerce marketing strategies worldwide. Another key finding includes the relevant touch points for a shopper’s journey.
Expressing his views on the findings of the research, Siddharth Dabhade, General Manager, Criteo India said
With increase in smartphone usage, app adoption and mobile browsing is the largest media consumption for Indian consumers. And with this, an interesting omnichannel shopping pattern has also emerged. Our latest study also illustrates this, where smartphones are seen contributing to nearly fifty percent of the total online transactions in India. It is the perfect time for brands and retailers to leverage the rise of mobile-commerce in India and invest in mobile apps and mobile advertising, to effectively connect with shoppers to yield greatest possible commerce results.
Mobile web usage has reached a maturity point, but shoppers rarely stay in one place for long, moving in and out of walled gardens, and are still buying on-the-go, with varying levels of frequency, on all connected devices. Also with rise in the mobile usage, the frequency of the shopper engagement is also increasing.
In India, smartphones contributes 45% of total transactions [App excluded].
Smartphone usage has been increasing at 6% since Q4 2016, showing that smartphones continue to be the most preferred environment.
The omnichannel strategies help educate shoppers during their winding journey, which in turn drives positive online results.
Global omnichannel customers offer the highest lifetime value to brands and retailers, generating 27 percent of all sales, despite representing only 7 percent of all customers.
Globally, retailers that are successful in combining offline and online data are able to apply more than four times [4X] as much sales data to improve marketing efforts.
App has now become a crucial touch point for a shopper’s journey. Owing to this fact, apps are presenting a huge opportunity in terms of reaching out to the mobile first shoppers. In order to better connect with these mobile-first shoppers, enhance mobile shopper engagement and get substantial sales, retailers and brands need to invest in mobile app optimization and build a targeted marketing strategy.
Conversion rates are 5 times higher on app, about 20% then on mobile web, which is 4%, in the Asia-Pacific region.
Globally, advertisers saw nearly a 50 percent year-over-year increase of in-app transactions, climbing to 46 percent in the fourth quarter of 2017.
Consumers continue to trade desktop for mobile, and back again, depending on the time and day they are shopping online.
Retailers looking to target the busy working customer cannot ignore the dominance of desktop during business hours, especially between 9 A.M ~ Noon.
Alternatively, optimizing for smartphone and tablet targeting remains critical in the evenings and throughout the weekend.
Cross Device Data
Cross-device data combinations can help retailers make up lost ground from lower shares of mobile sales. It also helps in revealing where the shopper will go based on where their journey began.
In India, 25% of post click sales are preceded by a click on another device.
Combining cross-device data to better understand and target shopper intent allows marketers to capture higher-value shoppers. This trend is apparent in Travel & Retail category.
‘Ownership’ is a word that has a lot of sentiments attached to it. Whether it is owning a commodity like a car, bike, mobile phone, electronic appliance, etc. or owning a house, it brings a deep sense of accomplishment to the owner. Many years back, owning either of them would be considered a herculean task, but with the rise in urbanization, increase in the overall disposable income of the urban Indians, changing lifestyle and easy access to financial tools [like Equated Monthly Installment], the rate of consumption has increased rapidly.
Changing Financial Landscape
If a consumer has a good financial track record and an exceptional CIBIL score, getting a home loan/personal loan/vehicle loan is a piece of cake and consumers can pick and choose from the best possible options, since financial institutions do not want to lose the customer and they would try their best to retain/bring a new customer on board. However, EMI comes with a baggage full of responsibilities and missing the EMI on a consistent basis can have serious implications on your financial track record. In some scenarios, you might be looking for a short-term loan or a relatively smaller amount for which you might not want to take a bank loan. In such scenarios, you either lend money from family, friends or from companies operating in the burgeoning fintech sector.
The overall financial landscape is also changing at a very rapid pace in order to accommodate the changing sentiments of the customers. Innovations like Unified Payments Interface [UPI], India Stack, India Chain, push towards Digital India, increasing internet penetration, etc. have resulted in many innovations in the Fintech Space. Though startups catering to Payment services [PayTm, FreeCharge, PhonePe, etc.], P2P Lending [LendBox, EasySalary, etc.], Personal finance [BankBazaar, Capital Float, ScripBox, etc.], Lending based on credit-line [MoneyTap] have resulted in major customer and investor interest, there is still a lot of room for innovation in the fintech sector. In many cases, Banks and Fintech players are working together and utilizing their relevant expertise to create a better experience for their customers.
#SmartlyOwn – Better Option to Own Things
As reiterated earlier, ownership brings a sense of pride, but it comes at a cost. Though consumers have options to buy furniture, bike, electronic appliances, etc., by utilizing the financial services of banks as well as fintech companies, they still have to worry about repaying their loan on time. Unlike in the past, young population is more comfortable to switch cities in case they find better career opportunities. In case they opt for relocation, they need to take the important decision on whether they carry the commodities they own like car/bike/electronic appliance along with them or sell them at the best possible price. Since each of these is a depreciating commodity, hence their overall value depreciates from the very moment you own them.
Hence, consumers need to take the important decision on whether they need to own them or use options like ‘renting’ so that they can save money and #SmartlyOwn the items. This is the problem being solved by new-age rental companies that are using technology to offer better options to their customers. Even if you own a house, you still need to worry about setting up the home and good home interiors might burn a hole in your pocket. L Rather than blowing up hard-earned savings in owning up such items, the millennial generation has better investment options like Mutual Funds, Stocks, CryptoCurrency, etc. Due to all these factors, many urban Indians are switching to a #SubscriptionLifestyle since they have options to rent bikes, appliances, furniture, etc.
RentoMojo – Consumer Leasing Company to a Fintech Startup
Rentomojo, India’s leading consumer leasing company has various plans so that customers can buy a bike, furniture, electronic appliances on rent for a minimum period of three months. Founded by IIT alumnus Geetansh Bamania, RentoMojo is a first-of-its-kind consumer product leasing business that raises lease-capital from financial institutions for products rented to consumers for long-term periods, typically 12-18 months.
With an option like Rental Monthly Installment [RMI], you can own a product like a piece of furniture, a bike or an appliance without being bonded with a lifetime commitment. How is RMI better as compared to EMI? There are so many benefits that come along with it, which are not available with EMI and flexibility and non-commitment to the products is the biggest of them. You can take the products till the time you want and return when you don’t. The other important benefits include free delivery and maintenance, a swap of the products and much cheaper payouts monthly as compared to EMI. This is how the concept has broadened to a wide universe of the customers who have always considered renting as a financial decision.
Since many customers rent products for a long-term period of 12~18 months, they might want to increase the rental tenure or own the products as well, making a lot more financial sense. This is the thought with which they announced an exciting proposition of Rent-to-Own [#RentToOwn], where now the customers will be able to rent till whatever time they want, return or own the products. This is a whole #NewWayToOwn!
#RentToOwn – A Smarter Way to Ownership
Though it was started as a rental business, Rentomojo has evolved as a fintech model where the customers can lease furniture, appliances, and two-wheelers by paying an extremely affordable RMI. With the new offering of ‘Rent-To-Own’, the customers will have a new way of ownership, where after paying some RMIs if the customer feels like buying the products, it can be done. Customers also have an option where they can ‘try and then buy’ through product trials at their doorstep.
Eminent content contributors were invited for the launch of this event where the idea and concept was introduced for the first time to a larger audience. Sharing his views on being the first fintech startup to have this feature, Geetansh Bamania, Founder & CEO of Rentomojo, said
Usually renting is considered for a longer duration. A lot of customers also get a strong sense of ownership once they buy the products. What we also realized that, although the perception of renting could be for a smaller duration, the average rental tenure of our customers is 12-18 months, which itself makes us very different than a typical rental model. With an option of owning if the customer wants to after he has rented, where he is paying a nominal RMI, is a new way of ownership.
The below table summarizes the advantages of RMI as compared to EMI and ‘Option to Own’ is definitely a feature that would lure customers who rent for a longer duration since they now have an option to own the item they have been using on rent!
Some of the questions asked during the launch event were:
Should customers opt for renting items even if they have the financial capability to own them?
Since Rentomojo provides ‘Free Maintenance’, how does it educate its customers about product quality so that maintenance expenses are kept to the bare minimum?
Who are the partners of Rentomojo in the bike, electronics appliance sector?
Does Rentomojo plan the omnichannel route in future so that customers can also get a touch and feel of the products [especially the furniture]?
Does Rentomojo service only the B2C sector or they also have B2B customers?
What are some of the unique offerings of Rentomojo as compared to other companies operating in the same sector?
Geetansh and his team answered all these questions with ease since they are very confident about their offerings. Since their team has extensive experience in technology, e-commerce, retail, their main focus has been on unit economics rather than chasing a vanity metric like Gross Merchandise Value [GMV].
What are your thoughts about the RentToOwn concept? Do leave your feedback in the comments section.
Criteo S.A., the leading commerce marketing technology company, announced the launch and general availability of the Criteo Reseller Program. Developed with the needs of the Asia-Pacific [APAC] region in mind, the program allows online marketplaces to resell, Criteo’s best-in-class solution, Criteo Dynamic Retargeting, to merchants or affiliates on their platforms.
Regional eCommerce sales are expected to exceed US$3 trillion and account for more than 25 percent of total regional retail sales by 2021. Across the APAC region, close to 6 in 10 shoppers purchase products on online marketplaces. The program has therefore been designed to help online marketplaces and their merchants maximize their share of this APAC growth opportunity, while delivering seamless and relevant retail experiences to shoppers across all devices and channels.
Yvonne Chang, Executive Managing Director, Asia-Pacific, Criteo, said
In virtually every APAC country, an online marketplace tops the list of eCommerce sites or apps most used by local shoppers. For merchants, participation in an online marketplace has become the most obvious pathway to success. Through the Criteo Reseller Program, merchants can now take advantage of Criteo Dynamic Retargeting, within marketplace environments, to re-engage shoppers online.
They can control and adjust their ad spends to better connect shoppers with products they need and love – this will boost revenue for themselves, the marketplaces and the economies they are a part of. The program will drive further commerce growth in each country and across the region.
With access to Criteo’s machine learning technology and open commerce marketing ecosystem, a merchant can now serve personalized product offerings and recommendations to reach, engage and convert shoppers on a larger scale. An online marketplace that empowers increased reach and sales for its merchants will enjoy revenue and higher Gross Merchandise Volume [GMV] growth, while reinforcing itself as a valuable sales channel.
The Criteo Reseller Program offers online marketplaces an Application Programming Interface [API] that simplifies campaign management. The technology allows merchants to manage & adjust their own ad spends and Cost-Per-Click [CPC] prices to boost sales under the marketplace’s dynamic re-targeting campaign. As a result, online marketplaces do not need to manage ad spends and budgets on behalf of merchants. The marketplace manages the technical integration, with no further technical development required from merchants themselves.
Yahoo! Shopping Japan was an early adopter of the Criteo Reseller Program in early-2016. Within a relatively short period of time, more than 1,800 merchants on the online marketplace saw the value of using dynamic retargeting campaigns to drive traffic to their product pages, thereby increasing Yahoo!’s online marketplace sales by 69 percent.
Criteo Dynamic Retargeting uses machine learning technology to comprehensively understand shopper behavior across devices, browsers and apps. After accurately predicting an individual’s propensity to buy specific products, the technology customizes product recommendations and the ad’s visual design in real-time, driving engagement and compelling the individual to complete a purchase. Criteo’s direct relationships with thousands of premium publishers delivers scale and ensures the best dynamic ad placements across all online channels, so shoppers can be reached and engaged wherever they are online.
Patrick Wyatt, Senior Vice President, Product Management, Criteo, said
The Criteo Reseller Program paves the way for commerce businesses to define their own growth and future. The program was developed to enhance the power of Criteo Dynamic Retargeting for online marketplaces, merchants and affiliates. By staying ahead of emerging industry needs and offering industry-leading Criteo Dynamic Retargeting technology through this new program, we are committed to fulfilling our vision of building the highest-performing and open commerce marketing ecosystem.
At Criteo Exec Connect 2018, the company’s first-ever regional thought leadership and education summit for commerce businesses and digital marketers, the leadership team shared the company’s Commerce Marketing Ecosystem vision, Innovation Roadmap for APAC, as well as Commerce and Online Marketplace Outlook 2018. The Outlook provides valuable insights on voice shopping, data collaboration, connecting online and offline sales, and the impact of the upcoming General Data Protection Regulation [GDPR], among other trends that are expected to shape the industry in the year ahead.
The summit, hosted by Criteo in Da Nang, Vietnam, from 1 to 3 February 2018, was attended by 40 major APAC commerce players, including Lazada, Expedia, The ICONIC, Flipkart and Nykaa.
BookMyShow, India’s largest online entertainment ticketing platform, said that it has alone sold close to 5 million tickets for Padmaavat since the release of the film on January 26, 2018. The Deepika Padukone, Ranveer Singh, Shahid Kapoor starrer enjoyed a two week clear run at the box-office, though a few cities were not part of the release.
BookMyShow, the category leader in online movie ticketing, contributed over 60% of Padmaavat’s opening weekend collection – a staggering contribution for a blockbuster release – achieving over INR 100 Crore collection on BookMyShow. The Sanjay Leela Bhansali magnum opus sold tickets across 340 cities and towns and was released in Hindi, Tamil and Telugu, in 2D, 3D and IMAX. The film’s first ticket was booked from Jharsuguda in Odisha, while maximum number of tickets for Padmaavat were sold in Mumbai, followed by Delhi, Hyderabad and Bengaluru.
Padmaavat, which was clearly the movie of the month for the Indian film industry, contributed to over 35% of the total movie ticket sales on BookMyShow in the month. BookMyShow also rolled out an ad film [BookMyShow TV Ad | Touchy Topic] and a digital film [BookMyShow Video Ad | Padmaavat – Jao Book Now] around the movie which was viewed and shared by millions of movie lovers across the country.
Padmaavat has definitely given the movies business a great start this year. BookMyShow sold over 500 tickets a minute, making our contribution as high as over 60% to the film’s opening weekend collection. With some exciting releases lined up, we do expect February to be a good month for the movies business.
As market leaders, we also continue to work closely with production houses and movie theaters to increase footfalls, and drive ticket sales – in line with our endeavor to increase the overall share of online movie ticketing in India. Our extensive marketing strategies, backed by real time user engagement data and incisive understanding of the entertainment industry, allows us to play a larger role in the growth of the overall category.
BookMyShow, is India’s largest online entertainment ticketing platform that allows users to book tickets for movies, plays, sports and live events through its website, mobile app and mobile site. Founded in Mumbai in 1999 and launched in 2007, BookMyShow is now present in over 650 towns and cities across India, currently meeting the entertainment demands of millions of customers. For more information, please visit BookMyShow