In this blog, we are going to gain insights about Meesho and have an in-depth analysis of the marketing strategy of Meesho.
Meesho is India’s number 1 reselling app which people have really started to trust. Meesho is a reliable source from where one can generate some money just by indulgence. Payments that take place on Meesho are instant, safe as well as secure. One needs to sell its products and start generating commission which is decided by sellers. We, in particular, will see Meesho’s marketing budget, and marketing mix, will do competitors analysis, marketing strategy of Meesho, campaigns, digital marketing presence, and more so let us begin!
Meesho (Short form of ‘Meri Shop’) was found on 13 August 2015 by Vidit Aatrey and Sanjeev Barnwal. It has stylish and top-quality products related to lifestyle that too which are at low and wholesale prices. If you are someone who is in search of quality products at low prices then Meesho is the right place for you where you can choose according to your liking from over 40-50 lakhs of top and quality products to over 700+ categories including fashion for both women and men, kids, accessories, kitchen and home essentials, health and beauty essentials and much more.
Meesho’s Marketing budget
Meesho left all of us Questioning how did it become a million-dollar company! Meesho Projects’ brand image is quite similar yet different from high-end companies eg. Amazon, Flipkart, etc. Though the structure of all three companies is B2C in nature. Something that affected Meesho’s Marketing budget was that it is more locally sourced than the rest. This increased the contribution in small business sectors which Meesho enables to bring an income. Though it has cons to it that it brings a gateway to more unidentifiable identities and buyers to fool customers as well as resellers at times too.
When the Covid-19 endemic hit, Company did hit a low point it even had to dismiss around 250 employers as the situation got lowest compared to the previous 5 years. Because of this power-saving mode, it was a bad state for the entrepreneurs and resellers as demand for the products had also got low to a significant rate. However, as soon as the lockdown rules got lifted meesho went on the full drive which entailed handing out small loans for the resellers as well as entrepreneurs which help them to stand on their feet and build their businesses at a smaller rate.
This however helped businesses to do way better compared to their previous statistic by a 25%-40% increase rate.
Meesho’s Marketing Mix
Meesho’s marketing mix refers to the 4Ps of the marketing mix which refers to the set of actions as well as tactics that Meesho uses to promote its brand or product in the market which consists of typical 4Ps which are Price, Product, Promotion, and place. These are key elements considered while developing the marketing strategy of Meesho.
As the majority of Meesho’s buyers and sellers are women, its communication mainly centers around the motto of Women Empowerment with a mission to help women achieve independence financially as well. It mainly wants to celebrate women and their Unstoppable spirit to overcome all economic as well as social barriers which is quoted with the line which successfully captures the true sentiments and emotions which the slogan tries to deliver that says ‘Not just a homemaker, a Meesho Enterprenuer’
If we sum up, overall more than 70% of Meesho’s orders come from tier 2+ towns. It has seen very good adoption in tier 2+ towns even during the pandemic they have provided services to 2000+ new tier 2+ towns. Since June, a spike in order share coming from here was showing a rise from 67% before to 72% from July to December 2020.
When it comes to campaigning and promotions, Meesho uses TVC and social media. Further, in this blog, we will see some TVC advertisements that gained popularity for the company and the message they build to get across and was an effective marketing strategy of Meesho.
Meesho’s Competitor Analysis
Meesho is fighting against eCommerce titans like Amazon and Flipkart. Meesho ’s rivals have onboarded Bollywood celebrities and have an enormous media presence.
In the time of Amazon and Flipkart, Meesho tries to form trust through social commerce. The marketing strategy of Meesho has always been to empower further and farther people to fulfill their dream. Their USP is to help make entrepreneurs with zero capital. And also find more channels to enter their worth proposition further.
Besides these, there are a few other Competitors that meesho have like:
- Deal Share
- Glow Road
- Shop 101
- City mall
To beat the growing competition the marketing strategy of Meesho needs to be planned and developed effectively keeping in mind the changing market trends.
Let us have a look at the marketing strategy of Meesho
Marketing Strategy of Meesho
Meesho has a wide range that is vast enough to cover ethnic wear for women ranging from sarees, Kurti, Lehengas, kurtas, Blouses, and western dresses to Accessories, footwear, bags, jewelry as well as lifestyle collection, and much more.
One can also find the latest accessories and outfits for men in Meesho’s collection which again has a wide range of variety including Kurta, kurta sets, suits, sherwani, and more.
This was just traditional you can even choose from trendy Western wear like Jeans, Trousers, Shirts, T-shirts, seasonal wear, etc. Meesho’s offering just doesn’t end there from basic accessories for the kitchen to home decor items to products for daily use as well as electronic items Meesho made sure its one-stop for all your need. Here are some more points that Meesho has kept in mind:
Quality Products that too at the Lowest Prices
Now one can place their orders from Meesho which is a network of wholesalers pan India that supplies Amazing Lifestyle as well as fashion products with keeping in mind the prices you will love. As all the goods on the Meesho app are bought by you by direct suppliers, wholesalers, and manufacturers you can grab them at good and wholesale rates.
Discounts and First Orders Offer
One can even get the opportunity to claim a 30% discount that is up to ( Rs. 100 in INR) on the first order you place. New users can avail of this amazing offer for their First time purchase on the Meesho app and it won’t matter on order value or any product category for that matter.
Delivery and Shipping to be Free
This is a plus point that makes Meesho stands out from the rest because Meesho gives you free delivery on all your orders which are placed without any minimum value order.
Availability of Cash On Delivery (COD)
Unlike certain apps, Meesho made sure to keep this option open and so Meesho made its products available for Cash On Delivery(COD) which ensured that people who do not have any online payment methods available to them can still purchase through Cash On Delivery (COD).In short, it means you can pay after getting the products.
Returns/Refunds are made free
Unlike certain apps, Meesho made sure to listen to their customers in case they didn’t like the products offered by them. They made 7 Day- Free Return & Refund policy available which would even give you money back without asking you a single question. With these policies, online shopping and earning money through reselling is a safe experience!
Meesho’s Marketing Campaign
Meesho decided to gain attention and market themselves by using the most catchy phrases and tag lines for instance two of them which made a good amount of impact were:
“Humara Mission Sabse Kum Commision”
Commission Charged by Meesho is as less as low as 1%. The people who supply only have to register on Meesho and add a listing of their products. As soon as they do that Orders would start floating in as well as when the entrepreneurs would share the products on social media platforms. The highlight of the following campaign was providing a commitment to all suppliers irrespective of their sizes Which even provided a guarantee of making the products visible on the Meesho platform.
This would even provide them more exposure at least to a larger audience of up to 1cr or so with a wide range of categories which would include more than 600+ categories keeping low shipping rates in mind along with it meesho gives the wholesalers and suppliers a great opportunity to grow with their business on meesho.
Another Campaign was #MystoryMystory.The campaign clarifies the various roles that women play in people’s lives. She goes by many names, but it takes a lot to establish one’s identity, and Meesho helped make that reality. This campaign was an effective marketing strategy of Meesho with a beautiful message. It demonstrates how a woman can start her own business as a reseller and gain financial and social status in the process.
Digital Marketing Presence
Meesho has established its position very well compared to its other competitors and it is very well seen in its Digital Marketing Presence!
Social media marketing is a great way to do that and it has been utilized to the fullest as a part of the marketing strategy of Meesho.
Meesho grows its brand through social media marketing by launching campaigns, collaborating with others, and interacting with followers through postings. Memes are an excellent and cutting-edge form of brand advertising.
The most effective strategy for marketing any company is through commercials. In keeping with the most recent developments in digital marketing, YouTube and Facebook advertisements are used as a marketing strategy of meesho. These commercials help Meesho establish a large presence. YouTube has a very broad demographic audience. As a result, this strategy helps Meesho increase its viewership. This advertising leads people to the Meesho website or app when they click on them. This promotes traffic generation for the company.
Meesho may be a growing, successful company that shows possibility within the way they develop. Over 13 million entrepreneurs have used Meesho to determine their own internet companies with no investment. This entails their business model, their structure, and their way of campaigning their cause and stereotypes. Along with entrepreneurship, other substances make plutocrats on reselling. This task is hourly and considered to earn easy plutocrat as there is no capital investment wanted. Just a mode of communication. These mediator tasks have helped objects earn a hem that helps in their growth. The hem freight is further set by the reseller themselves.
Powering through the worldwide infirmity, the mass market had ventured some ways to enable small businesses to stand on their by maximizing minor trouble handed by them. Meeshoo grew from transplanted shops to a social-commerce platform that holds up to entrepreneurs.
Hence, we see how important Digital Marketing Skills are and in demand at the current time if so you feel interested to know more about it you can check out the IIDE Digital Marketing Courses.
We hope you found this blog about the marketing strategy of Meesho to be both interesting and useful and that it gave you a clear understanding of the business. Thank you for reading, if you liked this blog, share your thoughts in the comments below on the marketing strategy of Meesho.Happy learning!