In the previous blog, we discussed the SEO point of view which Muruga followed to rank his website. How Muruga took the ascended content marketing and why was the need to create the HappyMarriage.com. While creating HappyMarriage.com, Muruga faced some challenges and the thought behind the strategy was important too. Muruga executed the plan based on the communications, referrals and that was how the outcome was shown. They created offline marketing channels in which the hosted events like Mega Swayamvaram, speed dating, special meetings, retailing and finally the results were shown.
MULTI-BRAND STRATEGY – DIVERSE MARKETPLACES
Muruga saw the accompanying focal points of utilizing a multi-mark procedure –
- It was anything but difficult to duplicate these commercial centers utilizing the same back-end innovation
- Scalability wasn’t an issue
- Also, marital clients aren’t deep rooted clients. The lifetime estimation of a client is typically 3 a year. They just remained on the stage until they got hitched. Once the pursuit is finished, there is no purpose behind them to return to the site. This made it basic to differentiate.
Keeping the structure of innovation set up, Muruga took an official choice and chose to dispatch the accompanying commercial centers successively from 2006 to 2008 i.e. 8 benefits in a traverse of two years. The enhancement helped pick up the piece of the overall industry and these stages were beginning to see development –
- com: The No.1 Property Portal.
- com: Help individuals with individual, property and vehicle credits.
- com: The Online Automobile Supermarket.
- Mobile 5050: Latest news on telephones, contraptions
- com: The Online Classifieds.
- Clickjobs: An occupations entrance
- Indiapages: The Online Yellow Pages
- BharatBloodBank – a non-benefit, non-business interface
The focus shifted completely towards the matrimony space in 2008. This was the time when the credit crisis led to a global recession. The entities like Bharatbloodbank.com, clickjobs.com, indiapages.com, indiaautomobile.com, indiaproperty.com and loanwala.com were shut down due to the recession.
Distinctive pricing strategies – Geographies and Net Worth
It was in 2001 when Muruga offered the paid version along with the free version of the BharatMatrimony to keep the revenue alive; this was done after the dot-com crash.
Rs 200 per year, was the cost of the paid version and when Muruga felt that this has picked up so he decided to scale the revised version that took the geographies and the net worth of the users into account.
BharatMatrimony was gratifying to the Indian audience, globally with different spending powers. This was considered the best move by Muruga as distinctive pricing based on geographies is not that common when it gets down to a subscription business.
This type of strategy is used by some companies today also. For example, Byju’s is a learning app and it charges differently on the basis of class. Also, for the age group of 18+, the charges would be different which will depend upon the courses. They provide a trial or free sample initially but to get access to the full course, the student has to purchase the course.
Generally what happens is that people are afraid to experiment, especially when they are starting new, but Muruga had some different stuff in mind. The only reason which made BharatMatrimony standing solidly for almost 20 years was the experimental ability like launching new products, hosting events, and launching new properties.
- Muruga focused on matrimony on the basis of audience preferences but the initial idea was launched with 15 regional domains under BharatMatrimony.
- Not just matrimony but he also launched properties which were not related to matrimony services like com, Indiaautomobile.com etc.
- The main focus was Matrimony and this was the reason that it was launched over more than 300 websites which were related to matrimony and the niche categories and also which organized different event either they were 100 meets in 30 days or huge offline events.
It’s not easy to start a new business and run it in a simple way. Muruga solidified his feet with the changes he made on a regular basis. While some of the features fell flat on the face but some won and Muruga learned something from each of them.
HIGHLY DATA DRIVEN
It was only the data that helped Muruga to make right decisions during the time of the expansion of the site. For the Day 1, the information was collected but the company was not able to draw any insights. Then in 2006, Muruga decided to process the information and use it accordingly. He made a data collection team which would ensure that the data was collected and it was being used efficiently and it was searched relevant. The analytical tools were set up and data scientists were hired, these would make sure that the reports were made on regular basis.
ACTUAL PRODUCT UPDATES
New communities – BharatMatrimony expansion was assumed on the basis that the matrimony requirement for the different communities will be same as that of the Tamil and Telegu communities as the common part is the language part of all the communities. On this basis, Muruga created the matrimonial services to Kannada, Gujrati, Kerala, Hindi, Sindhi, Marathi, and Bengali. Later, he expanded it to the communities like Parsi, Marwadi, Assamese, Marathi, Oriya and local languages of India. If we look at the success stories, we can clearly see that the idea worked.
New devices – Initially, BharatMatrimony was available on the desktop only; later Muruga saw that the people living in the remote areas were not having a way to access the site as they did not have any desktop. But they did have a phone and this is why Muruga created a mobile-friendly version of the site for those people so that they would get alerts on their phone as well.
This is to be noted that it is important to keep an eye on the demographics of your target audience, the limit of the device usage, and the online payments habits determine which platform a business should go for to ease up the navigation and the use of online user interface.
Always look for the soft qualitative data i.e. reviews, customer feedback, conversation over the calls, and their expressive views about their product. Look for the hard quantitative data too i.e. the number of customers, ratings, time spent on the site, mostly the things which are measured as a quantity. It is important to look at these types of data to make better decisions.
Keen eye on the optimization process
The optimization was done after the processes and tools were placed well in the company, well mainly around the product and marketing related development. The question raised was that how we can get more customers by spending less on keeping the existed ones. The traffic was calculated based on the ads, channels, keywords, creativity, and how that translated into revenue. The whole array of communications from the principal touch point to a held client was nearly inspected in all cases. Properties and campaigns that weren’t contributing as much were discarded and the concentration was moved to ones that were flourishing. There was a need to enhance which prompted the company’s size being definitely decreased, making it a great deal more slender and focused.
Freedom to ideas
Ideas are a way to innovation and openness. We came across so many ideas from the customer representatives and the tech teams that led to the creation of new products for the BharatMatrimony. If someone came up with an interesting idea then we gave the liberty to them to design the strategy and to build up the team to execute the plan.
Work towards progress
At BharatMatrimony, we follow a genuinely vigorous deft process. The daily meetings were held for 15 minutes where we would discuss about the things that were done yesterday and if there were any encumbrances then those were considered and the things that were to happen on the next day was planned according to that. Key metrics were mostly the part of these discussions.
Our employees are with BharatMatrimony for more than 10 years and our first three employees are still with us. We boost the morale of our employees and motivate them by keeping them enclosed with the company’s growth and the direction in which the company was heading.
Understanding the value system
The value of the company and a marriage go hand in hand with an organization and this makes our mission bigger than all of us. We inculcate these values from the beginning among the people of BharatMatrimony.
In 2017 BharatMatrimony decided to go public and the IPO was launched in September 2017 and was oversubscribed 4.41 times. The company raised Rs 500 crore through the issue that contained new issue of up to Rs 130 crore and an offer available to be purchased of up to 37.67 lakh value shares.
We have seen that how Muruga stood tall above despite all odds, he took chances and risks, some of them played well but some of them backfired, but he never gave up. Still, this question arises that why most of the startups fail and do not recover from their failures? Is it because of the lack of disruption or the inability to access the product or they are not able to fit into the competitive market. This time they would switch the idea while seeing that the previous one will not be working anymore now.
If we take the above points into consideration, then Evolvers show the entrepreneurs the right direction. Be it a mentor or an investor, Evolvers will facilitate all your business needs and all of this you will get on the Evolvers Platform.