Flipkart – Success Story- Everything you need to know

Flipkart – Success Story- Everything you need to know

Flipkart is a brilliant venture which started with a small amount of Rs. 4,00,000 to develop its website. It has now become one of the best e-commerce players in India.

It is registered in Singapore but operates in India.

In 2007, when the e-commerce business was just starting, Flipkart started to rise.

Two geniuses, Mr Sachin Bansal and Mr Binny Bansal, decides to launch something for the Indian market. Interestingly, they were once workers of Amazon,

Thus, they created Flipkart!

Both the founders are alumni of IIT Delhi. They left their jobs at Amazon to start off their own business.

Flipkart- How it all started

To begin with, Flipkart started selling books and was registered as Flipkart Online Services Pvt. Ltd.

In no time, the company grew bigger to sell various other products. They started selling fashion products, stationery supplies, e-books, lifestyle products, electronic products, etc.

Also, Flipkart is the first e-commerce website to launch cash on delivery system.

The key features of Flipkart are innovation from its start. It constantly introduces new products. This makes it different from others. These products are generally not available in other e-commerce websites.

This gave Flipkart a great head start for its future prospectus.

Funding History

As the customers of Flipkart increased, so did the investors. Also, they showed interest in the Flipkart venture and started funding.

In its initial years, Flipkart acquired its funds through capitals.

In 2008-09, it made a rough 40 million Indian rupees. Soon, it increased to 200 million in the following year.

It has also raised 1 billion dollars from its existing investors such as Tiger Global Management LLC, Accel Partners, etc.

Acquisitions

Flipkart acquired WeRead, a social book discovery tool in 2010.

Further, it acquired Mime360, a digital content platform company and Chakpak.com in 2011.

Again, in 2012 it bagged Letsbuy.com.

Moreover, acquired Myntra in 2014 for an estimated 20 billion deal.

Also, AdiQuity and Appiterate in 2015 were in Flipkart’s bag.

Challenges – Then and Now

The founders believe that ‘quality of the service provided’ is the most important component about Flipkart, which distinguishes it from the rest of the startups.

Back in the days, Flipkart did not have major tie-ups. With any of the book vendors. This is only because of the unavailability of an offline bookstore.

Moreover, another challenge was the approval of the credit card payment gateway.

Till date, Flipkart has almost all the book vendors and publishers on board. Also, it has its own payment gateway, Payzippy.

The new challenges are to keep up with the customers’ demands and experience.

Along with this, other challenges like talent management, supply chain efficiency and technology innovation are on the list.

Conceptual Framework

FIt uses the traditional A/B framework to test new ideas. This is done so that new functionality can be delivered to its new and existing customers.

This helps in fast checkout, instant product search and Layered and Faceted Navigation that adds to its user experience.

Apart from the consistent e-commerce features, they have added innovation in their offers and a discount section that adds to buyers’ confidence.

Space is dedicated to its Offers zone and deals of the day that fetches adequate attention of users.

Flipkart always keeps a constant focus on all new category creation and expansion of products.

Its brilliant ads and promotional activities motivate the shoppers to buy online by delivering the idea of ease to them.

Tools used by Flipkart for marketing:

Google AdWords

PPC Search ad – Category based text ads.

Display – Products based ad images.

Mail – Content-based Text Ads.

Keyword Targeted – FLIPKART.

Paid ad rank – 6 or 7.

Paid Search Performance – Good.

Remarketing

Its remarketing activates if a customer visits their site and Clicks any display / Search ad.

Successful Brand Campaigns

“Fair Tale”

“No Kidding, No Worries”

“Shopping ka Naya Address”

“Shop Anytime, Anywhere”

“Big Billion Day”

“Singles Day”

”Flipkart Happy Delivery”

TV Commercial Strategy

The main objective is to build the brand as a verb for shopping.

Target biggest event of the year – IPL T20 2014.

More than 35 ads released since 2011.

Their USP is portraying kids as adults in ads.

Mobile App downloads to increase m-commerce Value.

Launching Campaigns like “The Big Billion Day”

Facebook Strategy

Likes- 8 million + likes

Cover photos are based on Seasons to Festivals or Birthday

Updates on new Products and Customer queries.

Running contests and games.

Exclusive customer tab for support.

Average Response per Post 40-50.

The focus is on Customer acquisition and engagement.

Twitter Strategy

Followers -2+ million

Approx 5 tweets per day.

Regular updates on new Product, Offers and Discounts using appealing Videos and Images.

Tech @ Flipkart exclusive channel on tech updates.

Average 2-3 Products offers/launch based post per day basis.

Flipkart Support Exclusive Channel on queries Solution.

Flipkart Offers Special offer-based channel.

24*7 Customer Service Channel.

Real-time Connect.

Response to a query is in real time always.

YouTube Strategy

It does not have its own channel.

It Executes lots of YouTube Campaigns. i.e. Search Page, Display ad, Video ads etc.

Total 573 Videos Uploaded.

Total Video Views- 623,963,760

Pinterest Strategy

Deals/ Offers based Pinterest.

8 Boards and 290 Followers.

Google + Strategy

Followers- 900 k +

1-2 Post on Per day basis.

Less focus on deals/offers.

More focus on Company Updates, Product Launch Updates besides, and Festive/season/customer mood based posts.

Interaction / Engagement with the follower is the area of improvement.

Content Marketing Strategy

It has its own Official Blog.

The Blog page gives updates about company, industry, tech etc.

It has its own unique tech-focused blog too.

Moreover, PR release about company information, events, exclusive product service updates.

Long-Term Plan

Flipkart further plans to invest all the funding it gets in initiating the newer challenges which are being faced by them.

They are planning to take logistics to small towns and villages where people can get access to it.

Also, they will plan to make payments easier for the customers.

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