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<ul><li><keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> has given a new twist to the standard format of bonus letters. </li><li>Its new emailer gives you an opportunity to grab, “Chief Executive Bonus.”</li></ul>COVID has not left our country yet. Many employees continue working doubly hard from inside their rooms, with half their salaries. With Diwali around the corner, they are also heartbroken because getting a Diwali Bonus this year seems like a pipe dream. Bengaluru-based food delivery platform Swiggy has used this opportunity in its favour as it knows what is on everyone’s mind today and how to get consumers to click on an ad. It has sent out an email with a subject line that reads, “Your Diwali Bonus for the year 2020/2021” and it had us hooked. Inside Swiggy’s emailer is a Bonus Letter that appreciates its consumers' performance throughout the year. It reads, “We are happy to announce that our numbers for the current ‘dish’cal year look very promising! Of course, this is all thanks to your outstanding performance and hard work as a foodie.” Swiggy hasn’t just given away coupon codes in its emailer. It is cleverly making its consumer scroll through the entire emailer by providing three tier-discounts on cracking three different puzzles. The first ‘Chief Executive Bonus’ puzzles the users with a food question and provides a coupon code with a discount of 70%. The Senior Executive Bonus and Junior Executive Bonus offer a 60% and 50% discount. Its closing caption reminds the consumers how much the platform cherishes their presence in their life. It reads, “Your undying dedication to good food makes us proud to have a foodie like you in our team! We wish you all the success and look forward to seeing you rise to newer heights (and try new dishes).” <div type="image" title="Swiggy - Bonus emailer" msid="79192147" hostid="261"></div> A closer look at Swiggy’s Email Marketing Swiggy’s Email campaign is predominantly built around creating a sense of curiosity among its users. Its emails are always embedded with a personalised Call to Action (CTA) button and always have a crisp subject line. This time, the action button read, “Get that bonus.” It then directs the users to its app and social media pages to engage with them further. It also provides a unique hashtag for each emailer and asks users to engage with them by sharing their small wins on social media pages, further keeping their pages buzzing and increasing their presence. While Email Marketing seems like a dying phenomenon today, Swiggy’s emailers continue to prove that when done the right way, it fetches a marketer the desired results. It is that one brand whose emails you don’t want to unsubscribe to because it humours you, talks about your favourite food and gives easy discounts. Its bold orange colour and quirky font style is a cherry on the top. <div type="image" title="Swiggy - gift emailer" msid="79192198" hostid="261"></div> Swiggy has even made a personalised food clock for Indians that gave them a crash course on how foodies tell time. <div type="image" title="Swiggy - Food clock" msid="79192168" hostid="261"></div> Another example of how Swiggy has the best clickbait subject lines, during Navratri, it sent an email titled, “CONTROVERSIAL: India has ditched pedha this Navratri.” The emailer unearthed the most-loved sweets from all corners of India and gave a list of desserts. <div type="image" title="Swiggy - mithai box" msid="79192214" hostid="261"></div> In March 2019, Swiggy set a new record in email marketing with a CTR (Click Through Rate) of 7% and Mail Open Rate of 25%, revealed Netcore. According to IANS, Swiggy has seen a 30% jump in orders for food delivery during IPL season.

Swiggy has read every consumers’ mind and sent out fun Diwali Bonus emailers to lift their spirits

<ul><li>Foodtech startup <keyword id="6358977" type="General" weightage="100" keywordseo="swiggy" source="Orion">Swiggy</keyword> has announced that it is firing 380 employees as part of its restructuring exercise.</li><li>The company’s founder and CEO Sriharsha <keyword id="16176031" type="General" weightage="80" keywordseo="majety" source="Orion">Majety</keyword> delivered the news at a townhall meeting and admitted that “overhiring was a case of poor judgement”.</li><li>Impacted employees will receive a minimum of three months pay, apart from other assistance, Majety said.</li><li>Swiggy will also shut down its meat marketplace very soon. </li></ul>Foodtech startup Swiggy said on Friday that it is letting go 380 of its employees as part of a restructuring exercise. The company’s co-founder and CEO Sriharsha Majety delivered the news in a townhall meeting. “In this process, we will be bidding goodbye to 380 talented Swiggsters. This has been an extremely difficult decision taken after exploring all available options, and I’m extremely sorry to all of you for having to go through with this,” Majety said in an internal email to the affected employees, which was seen by Business Insider India. Majety said the employees who have been laid off will receive a minimum three months of pay. The payout will differ for employees – and can vary between three to six months pay, depending on the employee’s tenure and grade. They will also be entitled to 100% variable pay and incentives, as applicable. Apart from this, the conditions for joining and retention bonus, will also be waived off, while the vesting period for employee stock ownership plan (ESOP) will be extended to the nearest quarter from the last working date of the employee, allowing them to liquidate their stock options. <cmsannotation type="cmsannotation" annotationid="Overhiring a case of ‘poor judgement’, says Majety" comment="subhead" text="Overhiring a case of ‘poor judgement’, says Majety">Overhiring a case of ‘poor judgement’, says Majety</cmsannotation> The testing macroeconomic conditions in 2022 due to the Russia-Ukraine war causing inflation to spiral, and central banks raising interest rates to tame it, has resulted in companies around the world announcing massive layoffs. Swiggy has joined those companies, and one of the reasons for it, according to Majety, is that the company “overhired” in 2021. “In 2021, driven by a surge in demand during the second wave, our food delivery business grew very strongly. In addition, we’d also found strong early success with Instamart. With some definite exuberance about the future, we invested into building out our teams to be able to cater to the impending needs of the categories,” Majety said. However, with recessionary concerns in 2022, the company says it has had to advance its profitability horizons for both its food delivery business as well as Instamart, its quick commerce service. One of the reasons behind this is the slowdown in growth rates of its food delivery business, which is Swiggy’s bread and butter business. “The growth rate for food delivery has slowed down versus our projections (along with many peer companies globally). This meant that we needed to revisit our overall indirect costs to hit our profitability goals,” Majety said, adding that Swiggy has right-sized its other indirect costs such as infrastructure, office, facilities, among others. Employee cost was the next one on the chopping block. “Our overhiring is a case of poor judgement, and I should’ve done better here,” Majety added. He also announced that Swiggy will shut down the meat marketplace “very soon”, blaming it on not being able to hit the right product market fit. However, Swiggy users will still be able to order meat through Instamart. <cmsannotation type="cmsannotation" annotationid="Have enough cash, but don’t want to use it as a crutch, says Majety" comment="subhead" text="Have enough cash, but don’t want to use it as a crutch, says Majety">Have enough cash, but don’t want to use it as a crutch, says Majety</cmsannotation> Majety also noted that while Swiggy has enough cash reserves to weather tough times, he does not want to use it as a crutch and instead focus on securing the company’s long-term prospects. Prosus, one of the Swiggy investors, had said in its report that the foodtech startup had witnessed a significant growth in its food delivery business, which registered a 38% increase in the first six months of 2022. Swiggy’s gross merchandise value, or total sales, also grew 40% in this period to $1.3 billion, while its rival Zomato clocked total sales of $1.6 billion in the same period. However, Swiggy’s losses also continue to rise – the company<a href="https://www.businessinsider.in/business/news/swiggys-losses-jump-2x-to-3629-crore-in-fy22-layoffs-coming/articleshow/96682420.cms"> reported</a> a net loss of ₹3,629 crore in FY22, more than doubling from ₹1,617 crore in FY21. The company is said to be preparing for an initial public offering worth $1 billion. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/brides-buy-half-of-all-gold-jewellery-sold-in-india-says-world-gold-council-report/articleshow/97168432.cms">Brides buy half of all gold jewellery sold in India says World Gold Council report</a> <a href="https://www.businessinsider.in/business/corporates/news/hul-q3-net-profit-rises-12-yoy-to-2505-crore-rural-slowdown-bottoming-out/articleshow/97138811.cms">HUL Q3 net profit rises 12% YoY to ₹2,505 crore – rural slowdown ‘bottoming out’, says company</a> <a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-fpo-20000-crore-green-hydrogen-ambitions-and-debt-repayment/articleshow/97123733.cms">Adani Enterprises’ ₹20,000 crore FPO opens on January 27, will fuel its green hydrogen ambitions, repay debt</a>

Swiggy co-founder says over-hiring a mistake as he fires 380 employees

<ul><li><keyword id="2407038" type="General" weightage="20" keywordseo="dmart" source="Orion">DMart</keyword>’s revenue crossed the ₹9,000 crore mark in the October to December quarter of FY2022.</li><li>The normalcy around this festive season was an added bonus which boosted customer’s confidence in shopping online.</li><li>DMart’s EBITDA margins are going to be in the 8-8.5% range in the December quarter.</li></ul>Revenue of <keyword id="6410316" type="General" weightage="20" keywordseo="avenue-supermarts" source="Orion">Avenue Supermarts</keyword> — which runs retail store chain DMart — crossed a whopping ₹ 9,000 crore in the October to December quarter as more customers increased their budget for Diwali and Christmas shopping. This was the company’s highest quarterly revenue in the last two years. The normalcy around this festive season was an added bonus, which further boosted customer’s confidence in shopping offline. This is exactly where DMart and its extensive network of 263 retail outlets end up benefit from, analysts and stock brokers believe. But the sales figure is not the only thing that is going to be great for this retail store chain in the December quarter, say analysts. The revenue figure was only a sneak peak into DMart’s third quarter financial statement that is bound to be released this Saturday, on January 8. And it is definitely something that investors should keep an eye out for. <div type="image" title="Diwali and Christmas may have saved DMart’s quarter" msid="88718641" hostid="261"></div> According to Neha Khanna, cofounder and director of financial services group Valpro, the company’s gross margin is likely to improve year-on-year due to relatively higher general merchandise sales and rising fast moving consumer goods (FMCG) product prices. DMart’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins are going to be in the 8-8.5% range in the December quarter, she added. There is nothing about DMart’s Q3 results that retail investors need to be worried about, but the same is hard to say for the January to March quarter of 2022. Especially, as the threat of a third COVID-19 wave hitting India lingers on. <div type="image" title="Diwali and Christmas may have saved DMart’s quarter" msid="88718645" hostid="261"></div> It’s time DMart starts thinking of ecommerce DMart has always focused extensively on its retail chain business, but it now needs to go for a digital spin. The competition coming from digital only players like JioMart and BigBasket had been increasing rapidly since the last two years. But now Khanna believes that DMart and other groceries players — whether online or offline — are going to face tough challenges from players in the quick commerce domain. Whether it’s Swiggy’s InstaMart, Zomato-backed Blinkit (formerly Grofers) or soonicorns (startups that are close to a billion dollar valuation) Zepto and Dunzo, all are priming 10 minutes delivery. While there are debates whether customers need these services, the fact of the matter remains that investment in the ecommerce space is getting heavier. DMart added 59 stores in 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stores added </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-Mar 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apri-June 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July-Sept 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oct-Dec 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17 </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: DMart’s regulatory filings “Dmart is dependent on physical stores for the majority of its operation, there are several competitors in this field, only if DMart improves its existing ecommerce platform to attract customers we can expect something to be different [in January to March quarter],” Manoj Dalmia, founder and director at Proficient Equities, told Business Insider. <div type="image" title="Diwali and Christmas may have saved DMart’s quarter" msid="88718672" hostid="261"></div> Even though DMart’s revenue hit a new record between July and September and the profit grew well above its pre-pandemic level, its stock took a 7% dip in trade after the second quarter earnings report came out. The street’s concern was the <a href="https://www.businessinsider.in/retail/news/dmart-is-continuing-to-do-what-it-knows-best-but-the-street-wants-more/articleshow/87113806.cms">lack of strength shown by India’s largest retail chain</a> (by market value) in the online space. Stock broking firm JM Financial had then highlighted that DMart Ready’s ⁠— the ecommerce front of Avenue Supermarts ⁠— revenue declined 8% in the same time frame, even though the company expanded its ecommerce operations to Surat and Vadodara. SEE ALSO <a href="https://www.businessinsider.in/retail/news/amazon-vs-future-vs-reliance-delhi-high-court-stays-singapore-arbitration-proceedings/articleshow/88713142.cms" data-type="tilCustomLink">Delhi high court stays Amazon arbitration proceedings against Future-Reliance deal</a> <a href="https://www.businessinsider.in/business/startups/news/amazon-backed-good-glamm-group-will-invest-200-crore-in-influencer-marketing/articleshow/88690749.cms" data-type="tilCustomLink">Amazon-backed Good Glamm Group acquires 2 more startups, intends to invest ₹200 crore to boost influencer marketing</a> <a href="https://www.businessinsider.in/business/telecom/news/elon-musks-starlink-faces-its-first-setback-in-india-even-before-launch/articleshow/88702976.cms" data-type="tilCustomLink">Elon Musk’s Starlink faces its first setback in India even before launch</a>

Diwali and Christmas may have saved DMart’s quarter

With a view of listing the state-run insurance major <keyword id="6368369" type="COMPANY" weightage="20" keywordseo="life-insurance-corporation-of-india">Life Insurance Corporation of India</keyword> (<keyword id="6367143" type="COMPANY" weightage="20" keywordseo="LIC">LIC</keyword>), the government has proposed to raise the authorised capital of LIC to ₹25,000 crore. As per the amendments proposed under the Finance Bill 2021, the authorised <keyword id="445210" type="PERSON" weightage="20" keywordseo="share-capital">share capital</keyword> of LIC shall be ₹25,000 crore divided into 2,500 crore shares of ₹10 each. The share capital of the <keyword id="6356315" type="COMPANY" weightage="20" keywordseo="corporation">corporation</keyword> shall consist of equity shares and preference shares, which may be fully paid-up or partly paid-up, said the Finance Bill. "The corporation may from time to time increase its issued share capital, with the previous approval of the <keyword id="6356303" type="COMPANY" weightage="20" keywordseo="Centre">Centre</keyword>, whether by public issue or rights issue or preferential allotment or private placement or issue of bonus shares to existing members holding equity shares, or by issue of shares to employees pursuant to share based employee benefits schemes, or by issue of shares to life insurance policyholders of the Corporation, or otherwise," it said. However, the central government shall at all times, not less than 51 per cent of the issued equity share capital of the corporation and for five years after the IPO, the Centre will hold not less than seventy-five per cent. The mega IPO is likely to take place around Diwali this year. Presenting the Union Budget for FY21-22, Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> had said that all the announced disinvestment processes, including the LIC IPO will be completed in the upcoming fiscal. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/check-out-all-the-hiring-opportunities-in-2021-in-india/slidelist/81343839.cms">A whole host of jobs, from government to private to foreign companies in India, are opening up ⁠— here’s a look at some of those</a> <a href="https://www.businessinsider.in/business/startups/news/these-are-the-worlds-top-food-delivery-companies-indias-zomato-and-swiggy-have-a-long-way-to-go-as-compared-to-their-global-counterparts-like-doordash-or-meituan/slidelist/81344728.cms">These are the world’s top food delivery companies – India’s Zomato and Swiggy have a long way to go as compared to their global counterparts like DoorDash or Meituan</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-has-outperformed-its-peers-in-the-last-one-year-but-analysts-are-still-cautious-about-giving-it-a-buy-rating/articleshow/81345564.cms">Wipro's share price has outperformed its peers in the last year — but analysts are still cautious about giving it a 'buy' rating</a>

Centre proposes to raise LIC's authorised capital to ₹25,000 crore

<ul><li>Online ticket booking platform BookMyShow has laid off or furloughed 270 employees as it expects its revenue to be "greatly reduced" in the coming months, hit by the <keyword id="8902449" type="UNKNOWN" weightage="20" keywordseo="covid-19-pandemic">COVID-19 pandemic</keyword> and lockdown. </li><li>This includes those who will be put on furloughs, along with those who we will have to part ways with, at least, as of now. </li><li>Amid the COVID-19 pandemic and the lockdown, multiplexes, theatres and stadiums were closed and people stayed indoors, which impacted these businesses as well as those in ancillary services.</li></ul>Online ticket booking platform BookMyShow has laid off or furloughed 270 employees as it expects its revenue to be "greatly reduced" in the coming months, hit by the COVID-19 pandemic and lockdown. Several tech-led businesses including Ola, Uber, Zomato and Swiggy have laid off hundreds of employees in the past few weeks as they struggle against reduced earnings and uncertain business environment. "...we have had to resort to the task of reducing our costs to align them with what we believe will be greatly reduced revenues in the months to come...Out of 1,450 employees at BookMyShow in India and globally, about 270 employees across various functions and teams, will be impacted through this exercise," BookMyShow <keyword id="9308716" type="UNKNOWN" weightage="20" keywordseo="chief-executive-ashish-hemrajani">chief executive Ashish Hemrajani</keyword> said in an email to employees. This includes those who will be put on furloughs, along with those who we will have to part ways with, at least, as of now, he added. He said the company has tried to do it best to offer financial support, continued health insurance cover and outplacement support for those impacted by the downsizing exercise. Hemrajani said the teams that are staying back have voluntarily taken salary cuts ranging from 10 per cent to 50 per cent at the leadership level, given up their bonuses and all salary raises. The company has cut all other expenses and renegotiated with vendors, partners and landlords and after exhausting all other cost-saving measures, it took the decision as a "last resort", he said, adding that the layoffs are "not a reflection" of the individual's performance or ability. Amid the COVID-19 pandemic and the lockdown, multiplexes, theatres and stadiums were closed and people stayed indoors, which impacted these businesses as well as those in ancillary services.

BookMyShow lays off, furloughs 270 employees

<ul><li>In the last decade, marketers have started focusing a lot on personalization and using advanced targeting technologies to woo their consumers. </li><li>However, there is an increasing awareness around <keyword id="803848" type="PERSON" weightage="20" keywordseo="Data-privacy">data privacy</keyword>. In a panel discussion organised by Mobile Marketing Association APAC, experts discussed how marketers can offer personalised user experience in the age of data privacy. </li></ul>Imagine your local retail store owner knocks on your door late in the evening to ask if you need dry snacks for your party you never invited him for and have never shared personal details of your life with him. That would be immensely creepy, right? But if he made a note of every purchase you make to offer a better, new product that is available in the market when you visit, that would make you feel special, like the seller cares enough to notice and improve your buying experience. Mondelez India’s latest personalised Diwali ad was one of the most appreciated ads in the ecosystem that set a benchmark in our industry. It was the first hyper-personalised ad tailored according to different pin codes in Mumbai, Delhi, Pune, Indore, Ahmedabad and Lucknow and targeted different sets of consumers sitting there. So, treading this thin line between hyper-personalization and snooping can be difficult. In an era where consumers want to be seen and spoken to personally within a short amount of time and at the right time, it is highly challenging for marketers to understand how to use data available to create the right media plan. It doesn’t take a lot for a new-age brand to turn from cool to creepy. Offering an exceptional customer experience (CX) has become an important differentiator for a brand’s success. As data has become the new oil, consumers now exist in the form of cookies, email addresses, date of birth, mobile numbers, social addresses, etc. in a marketer’s database. So, how does a marketer strike the right balance? A panel organised by MMA with Jahid Ahmed, Head - Digital &amp; Content Marketing HDFC Bank, Rakesh Jaitly, Senior Sales Director - Oracle Applications, Gaurav Kaushik, Global Vice President-Ad Platform, JioSaavn, Umesh Krishna K - Marketing and Head of Media, Swiggy and Raman Kalra - Partner, PwC India explored this question. COVID’s impact on consumer targeting and data processing With COVID, many marketers shifted a larger chunk of their monnies on digital marketing and started exploring new ways of reaching out to consumers. Kaushik noticed a key difference in consumers. A lot of them shifted from cities to their hometowns. He said, “One major shift that we noticed was the definition of WFH and of people from Tier I to Tier II. To their hometown and work from there as they just need the internet. With this, brands who would target people in Tier I and II, have shifted their focus to the whole of India. People would listen to music when they commuted. Now, our media mix has changed because they are using multiple devices like speaker, smart TVs for the same task because you have those devices available.” So, as a marketer, Kaushik suggested that one should reach out to the same consumer via different devices and moments in life. It is the same user but how and where they consume the content should be taken into consideration, which is a different mix now. “We have over 5,000 branches but our website is the biggest branch now after COVID. The kind of business we have seen is phenomenal. With this, the expectation from digital marketing has changed. Consumer end-to-end journey have become more developed. Digital is now an end-to-end conversion source for you,” said Ahmed. Consumers’ expectations have also increased. They expect marketers to take notice and speak to them personally, which is why marketers need more data to personalize their campaigns. “After the pandemic, there are three words used very often: digital engagement and contactless, which has given different meaning to lots of business models. Marketers nowadays emphasize on these three points with the changing time: Connected data, connected intelligence and connected experience. It is not just about name, email address or mobile number but both implicit and explicit data. For us, it is important to recognise key differences between individual consumers, even outside the digital ecosystem -- are they frequent travellers, are they going to buy a car, this is what we track. We can bring commonalities from data that lead to personalization,” said Jaitly. Striking balance between privacy and customization Kaushik highlighted that consumers often pretend to be someone they are not in real life to assimilate themselves in a social group. However, data never lies. Speaking on how JioSaavn uses data to trace consumer journey, Kaushik said, “It is one thing to listen to music and another thing to look at the data and it tells you a different story altogether. For example Baby Doll was one of the biggest hits when it launched. So, music is personal and a companion and medium, these together become a really powerful tool to customize the journey for the user. Music creates a true profile for you and that helps to understand the user better. All we do at JioSaavn is to understand how people consume music and focus on that part because that is the only type of content that has a repeat button to it! And because it is on repeat, it starts creating patterns. There was a user who listened to ‘I wanna break free’ 64 times in a day and you can imagine what their state of mind is. Music goes hand-in-hand with your mood. With age, the romantic genre goes down and religious genre goes up. Nobody likes to accept that but that’s the reality. So music becomes a powerful tool to understand the user, which helps us understand the consumer journey at a customised level.” In a diverse country like India, for a brand like Swiggy it is difficult to find the right mood and understand their consumers' taste buds based on their behaviour. So how does it divide them into different cohorts and target them? Krishna K said, “For meaningful segmentation, you need to have a finite set of segments in the range of 3 to 7, not 20 to 30. But within those segments, we personalise our communication in terms of what imagery should go through which would fit a certain consumer of one profile. For this, a lot of third-party data helps us in re-targeting and branding.” Speaking on how <keyword id="2366412" type="PERSON" weightage="20" keywordseo="personalisation">personalisation</keyword> helped push digitalisation and shape consumer behaviour, Ahmed said, “One of the parts of personalization is the product. From the 30 million base that we have, we are ensuring that we are serving our customers in the best way possible. Hence, I have to personalise the product for one person, what is that they would be interested in -- that is the first level of personalisation. Second is intent -- I have made this product, but the consumer intends to buy something else, how do I understand that? Then serving a campaign according to their intent. For example, if I know a consumer who doesn’t have a credit card, I would offer reward points to lure them. So, we subtly nudge them. We need to nudge the consumers at the right time and right set of creatives. Data also has to be married properly with storytelling.” He further highlighted how every website has added a notification informing consumers about data tracking and seeking their consent. He said that people don’t have a problem if they consent to it and they see concrete results in exchange for data. Jaitly told us the question every consumer asks before they consent to sharing data. He said, “Do you treat me and understand me better if I share my data? Organisations need to prove how they are balancing it. Building trust is important.” Conclusion Experts suggested gaining consumer confidence about how the information was gathered, giving them control of their personal data, and offering fair value in return. Lastly, they said that brands should use first-party data to analyse user behaviour and while using third-party data, they try and segment their requirements into different cohorts like time of the day, genre and location. Communication, therefore, should not be at a user level, but should resonate with the consumer at a larger group level so that it doesn’t cross a line.

You Searched For "swiggy diwali bonus emailers" and got 6 results

Swiggy has read every consumers’ mind and sent out fun Diwali Bonus emailers to lift their spirits

Karuna Sharma

Swiggy co-founder says over-hiring a mistake as he fires 380 employees

Rounak Jain

Diwali and Christmas may have saved DMart’s quarter

Kritti Bhalla

Centre proposes to raise LIC's authorised capital to ₹25,000 crore

IANS

BookMyShow lays off, furloughs 270 employees

PTI

How brands can provide personalised user experience without violating their privacy

Karuna Sharma

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