Earning Customer Loyalty – The Myntra WayReading Time: 3 minutes
When Leaders Plan to Remain Leaders, They Focus on Customer Experience, Customer Retention, and Lifetime Value.
Almost all the leading eCommerce brands irrespective of their segment have started focusing heavily on the subscription plans or loyalty programs.
It started with Amazon, then Flipkart, Zomato and even Swiggy did that recently. Check out why they do this. But now, there is another fashion leader who has joined the league.
I am talking about the Flipkart-owned Myntra who has recently launched their loyalty programme- Myntra Insider.
Myntra was looking to launch this for a year and finally, we see it on-air.
What is Myntra Insider?
Myntra Insider is a loyalty programme launched by Myntra. This loyalty programme is completely different than what the other leaders such as Amazon, Flipkart, Zomato, etc. are offering. In fact, this is not at all a subscription plan.
Here, the users are going to get reward points. These reward points can be redeemed at the various places or with the partners of Myntra.
Being a child, Myntra has not just followed the footsteps of its parent company, Flipkart, to come up with the smarter point-based plan. Myntra even made it advanced to remain the #1 among the leading fashion eCommerce brands. Let’s check out how.
The users have multiple ways to earn rewards..!
The users need to become the member of Myntra Insider and they can earn points for doing the following things-
- Buying products from Myntra website and its app
- Browsing the Myntra website or its app for the x amount of times
- Browsing among the number of categories
- Adding the number of items to the wishlist
- Giving reviews to the products listed on Myntra
So, this means that the users are not just earning rewards for buying the products from Myntra but even for just browsing or taking any action on the entire Myntra store.
That is the reason why Myntra call it an “engagement-driven loyalty programme”.
How can the users redeem the rewards?
To help the users redeem their reward points, Myntra has partnered with various brands-
For this, the child brand has ditto followed its parent company to allow users to redeem the points to utilize the services of their partners. Well, here Myntra has opened up the indirect earning opportunities for its group company, PhonePe and rest.
What Myntra expects out of Myntra Insider?
No brand launch a programme until and unless they have any benefits out it. And, Myntra has worked hard on to plan this highly unique customer loyalty programme. So, let’s check out what are the benefits Myntra is going earn-
- Increased website and app traffic
- Increased no. of items in the wishlists
- Understand consumers’ thinking pattern
- Increased sales and revenue
- Influence buying behavior and make customers addicted
- Make people spend more time on Myntra App / Web store
- Decreased amount of cart abandonment ratio
- Increased indirect earning opportunities for PhonePe (a group company)
- Outplay the competition
Myntra has always worked upon the tiny things to WOW their customers whether it is their store features or their loyalty programmes.
How Myntra wants their users to feel like?
So, with such an engagement-driven loyalty programme, Myntra wants their customers to feel ROYAL as they are with Myntra. And, that is how they have planned the whole marketing campaign with the hashtag- #LoyaltyisRoyalty.
Let’s check out how Myntra wants their customers to feel royal:
Myntra has launched this customer loyalty programme, Myntra Insider, just after a month of its parent company that had launched Flipkart Plus. Myntra showcased that in no way it is going to stay behind on winning the customer engagement and experience. According to me, it is really an “engagement-driven loyalty programme”.