Archive for the ‘Opinions’ Category

With a flood of Discount / Deal sites in India & a new deal-site name popping up every other day, I thought of making a list of all the possible such websites in India.

Just some googling & some news report analyzing & soon this table swelled up to a distinguished number of 34 sites (table below). The first thing that came to my mind was ..Phew!! That’s a lot of competition in this business space.

S.No Discount Deal Site Traffic Wise Rank (India) S.No  Discount Deal Site Traffic Wise Rank (India)
1 www.snapdeal.com 19 18 www.dealivore.com 3123
2 www.fashionandyou.com 149 19 www.upto75.com 3983
3 www.yebhi.com 194 20 www.timesdeal.com 4502
4 www.bagittoday.com 205 21 www.aajkiitem.com 10638
5 www.homeshop18.com 209 22 www.mastsale.com 11362
6 www.naaptol.com 240 23 www.vamoose.in 15427
7 www.sosasta.com 371 24 www.groopoffers.com 20074
8 www.letsbuy.com 375 25 www.soldinsixty.com 27798
9 www.futurebazaar.com 412 26 www.dealyantra.com 28323
10 www.dealsandyou.com 450 27 www.discountsvu.com 30976
11 www.bindaasbargain.com 519 28 www.dealspick.com 38177
12 www.koovs.com 713 29 www.allindiadeals.com 54176
13 www.mydala.com 734 30 www.activedeals.in 91851
14 www.khojguru.com 985 31 www.dealhojaye.com 141614
15 www.taggle.com 986 32 www.dealmela.com 218309
16 www.99labels.com 1075 33 www.makemydeal.com 8077651
17 www.dealface.com 2779 34 www.fashionvia.com 17866336

In Rank Order based on Traffic, compiled  by Puneet Garg | Using Source : Alexa

Just a glance at the table above & you can see that Snapdeal.com is rated as the first among the entire group discount scheme website in India (based on traffic rankings in India –Alexa). With an India rank of 19th in terms of the traffic generated (Google is number one), it surely is far ahead of its competition.

Most of the 70% of Snapdeal’s traffic doesn’t visit any other page than the home page which projects that the conversion rate is definitely less than 30%. Thus 30 people of 100 visiting the site have either clicked the deal, or have shown some kind of interest in the deal. The traffic trend consists of majority men under the age of 25 who are all educated.

The next best site in traffic terms will be fashionandyou.com. Again this is visited more frequently by users who are in the age range 18-24 & mostly men. Another interesting fact being that these men are often accessing these sites from their work place..(so much for office productivity !!)

With the competition space already getting chock-a-block and new sites being launched every other day, the business of group deal or online discount store is really a hit among the growing Indian ecommerce space.All of the above sites are serving same purpose but treatment is different.

Concept of group bargain sites is very new in India (Snapdeal.com was launched in Feb 2010 only & madala.com in Nov 2010) thoughit’s been around in the west started by sites like groupon. Incidentally Groupon has also entered the Indian market by acquiring Kolkata based www.sosasta.com. Internet giant Google also has plans to bring its answer to Groupon – Google Offers – to India. (Yeah this is going to be great fun in future…just wait for it)

Considering this spree of new companies entering this crowded market space it is but obvious that only the fittest will survive this competition. The weaker will either shutdown (mobstreet being latest victim) or will be acquired by others. The best way out is to join hands with others players in the space &consolidate their businesses – a strategy which still has high chances of survival for these new entrants.

Still whatever may be business tactic, In any case I feel the ultimate beneficiary of these sites is the consumer aka you & me, who have gainedfromthe great deals via this e-commerce revolution. I am sure you must have stumbled to at least one of these sites.  Isn’t it?

Consider a situation when a street hawker / cable-wallah / door-to-door salesperson / kabaadiwala / Sabjiwallah / kriyanawallah (mom and pop store), any such doorstep business comes to your door & you don’t have cash for payment. All you have left is a credit or debit card but ..sorry no cash. The business person,surprisingly, says that is Ok ..& then swings out his new Andriod/iphone smart phone along with a small square device with a swiping facility. He plugs that device into the phone’s jack  or usb socket and says confidently with a smile..Don’t worry we accept credit cards & debit cards as well…

Now this is something for the small businesses. How about a device which can be attached to the mobile phone & enables the small business owner to accept credit / debit cards?

Well a company called square has already developed such a device which could be a big boon for small business owners to conduct financial transactions. They have developed a card reader, that is small enough to carry in your pocket & advanced enough to do those credit / debit card transactions.

Square’s pricing structure seems simple at a per transaction charge of 2.75 % & what’s more ..they are giving the device for FREE !!  Incredible technology which can do wonders in the coming years ..Isn’t it ?

Visa has developed a single click point of sale payments mechanism for online payments.  The interesting fact is that it will handle both Visa & Non-Visa payments. The visa press release though doesn’t mention in detail on how will the system work, but states that the users can shop “by simply entering an email address, alias or online ID and password, instead of a billing address, account number and expiration date”. Such a system is bound be hit by ever skeptic customers (specially Indians ) who are varied of going for any new mechanism for online transactions involving their hard earned rokda i.e. money.

In term of competition I feel there are already so many players in this field  e.g. Amazon’s 1-click and PayPal services, where Paypal already has  more than 98 million active users (though it charges a premium rate of 30 cents + a percentage rate per transaction) . I guess adoption by both merchants & customers is the biggest success attribute here.

From an Indian market perspective the credit/debit card subscriptions are high but card usage is relatively low. However the exploding mobile revolution with burgeoning mobile users touching 770 Million, the perfect channel of growth for payment industry is the cellular medium. The interesting fact is that the most important payments mechanism i.e. mobile payments will be catered later by VISA. It will however be using the NFC (near field communication) technology.

Airtel being another stakeholder in this industry has already launched Airtel Money – a scheme where mobile payments services are provided by the service provider. Considering NFC being the upcoming technology in this arena & widely talk about the next in thing when most of the latest mobile phones will have NFC enabled chips, the player who captures the opportunity first & throws it open to the Indian market will have a chance to catapult great growth figures in the payment industry.

[tweetmeme source= ‘themavericksoul’ only_single=false]

People so often confuse the difference between Digital Media & Social Media Marketing.

Broadly speaking if you ask me, then this is the way I see how they are different:


– Digital Media is a communication media which includes both Mobile & Internet platform, where the message is usually communicated to the customer in a Paid format , e.g. mobile ads, facebooks ads, banners, online applications etc. Thus this is normally an interruptive mode of communication where the consumer is engaged via interruption in his daily life. And as Dave Evan wrote -> Basically advertisements have always been an Interruption strategy to seek consumer attention.[Picked up this line from my unfinished book Dave Evan’s SMM:An hour a day]

Whereas

– Social media marketing is largely driven by the consumer acting as a voice of the brand on a social network platform.

It can be considered as an offshoot of viral marketing where something becomes so popular that it spreads like a virus from people to people in a viral fashion mainly driven by interest or word-of-mouth.

The modes could be display, video, blogs, pictures, articles just anything that keeps a user engaged.

You simply can’t pay to seek a consumer’s attention. There is no interruption, rather engagement.Now that’s the challenge because social media can’t be scaled by money. It’s a human driven effort like self-created, user generated and most often collaborated. No money in the world can do it. But yes what we can do is to try and understand the consumer psychology & what necessarily will trigger the passionate response from the consumers who are the kings & no more the objects.

P.S. I read somewhere that when you give people any challenge then they respond well. So I experimented with the Title of this post. Though the actual title can be just – “Difference between Digital & Social Media” . If you reading this, means it works!!


You can comment to state your opinion.


Defining a content creation strategy for brands to gather more eyeballs in the Social Media Space [tweetmeme source= ‘themavericksoul’ only_single=false]

Every other brand now itches to have a huge fan following on the social media networks. They outline strategies to make people get behind their products endorse their brands & promote it to the viral route.

But they tend to make a big mistake. They think that they can just reach out to the market, and if they have a great thing going on, the customers will naturally want to endorse what they are doing. They think that everyone loves about their brand. Well honestly, no one cares!!

The thing is, no-one wants to be your salesperson—unless they are, of course, being paid to sell your products. But everyone in the social media circle wants to be part of something that’s bigger than them, that’s creative and that brings new ideas into the world. Something that they are passionate about and care to promote & share with friends.

Some of the ways to get things moving could be as

No Direct Pitch for Endorsements

The consumers shall never be asked to endorse a product or site directly. Instead the content should be created with is independent of the brand. The consumer shall feel the genuine desire of the content owner to share the interesting piece of information/application. Only then will they support the cause & also share among their pals. The content shall encourage a consumer behavior of passion, emotion, intelligence or humor – something people would love to get behind & believe in.

You want to create something that many people will join. A cause, a vision

Let it be Catchy & Meme-able

‘Meme’ is an idea that spreads from person to person, one that’s so “catchy” that people almost can’t help but to spread it.

A meme is bigger than a brand. Just Do It is a meme. No Fear is a meme. It’s something that people can identify with, make their own and share with others. Open Happiness is a meme

Let people get hooked to it – catchy is the word.

But same time Values-Driven, too

If your project provides awesome value & is catchy at the same time, then you’re not only sure to inspire people, you’ll also be making the world a better place.

So along with everything, the creative project should have some value to the customer as well.

Easy to Join & Agree

Make it easy for your intended audience to participate as quickly as possible. It should be it incredibly easy for the audience to say “yes” & act on it in the fastest possible manner.

Be creative but avoiding inaccessibility

A long webinar, a complex signing form, Jargon filled webpage all are a sign of providing inaccessibility to the ever busy consumer. You can be as creative you desire but without the loss to ease_to_accessibility.

In the end summarizing, for the target of colossal customer base or a huge fan following in the social media sphere, just believe in the principle of simple , catchy , easy to access content which supports a cause / has a vision and also provides certain value to the customer.

You can share you views by leaving a comment – BY clicking the bubble next to the heading!!

Puneet