So a bit about Spoyl, We are a bootstrapped org that is primarily a social re-commerce platform. Our fun fact – we are growing at a fairly good pace, about 110% each week. We are also only 2.5 months old smile emoticon
What Works – I should say a lot of things have worked very well for us. But to point a prominent few, It has to be Instagram Marketing and College Referral Programs.
Instagram – At the moment we have our maximum users coming through here. And most of the users from here have a calculated average of making 3 sales Minimum ! Out CPC here is 70 % – 80% lesser than on any of our other platforms as well. Mainly owing to the fact that Instagram breeds a fashion and style centric crowd.
About me – I am lucky to be leading the growth piece at Spoyl smile emoticon
Would be happy to take questions.
Irum . Could you talk about Instagram, what did you do from scratch? You guys have 8,000 followers!
We started with Insagram ads, which initially cost us a sweet penny, but after playing around a bit, we have managed to bring down our costs by a Huge margin, which enables us to spend less and get more.
Also, the reason for such concentration here has been due to the quality of users we earned from here. We saw that most of the users who joined us from Instagram have done an average of 3 sales.
My favorite question, what is your #1 hack ever?
It has to have been our Influencer marketing. Which is what we analyse has lead to such a surge in our Instagram growth as well
Will these influencers charge money for tweeting/posting?
Most of them do, atleast initially until you have built a brand worth being a part of. I believe the tables turn once you have grown to an extent .
By extent I mean beyond Myntra too.
What are some basic Facebook page tips which draws users to like your page?
Content ! content ! Content !
That is your key.
Good content will drive users to your page. And by good I mean revelent content too ! When a users likes what your are talking about, they will count you as an authority and will hence be more prone to buying what you are selling !
You mentioned your CPC is 70 % – 80% lesser than on any of our other platforms as well ? This your talking about only instagram? What’s the CPC rates in general, how did you lower them?
When we started we were doing ads for 20$, that has come down by 70% now.
This was done through a lot of trial and errors, where we played with content that goes up in the ads, from picture quality, to who is in the picture, to text etc
We also played with the timings that these ads were posted on, including following it immediately after we had one of our bloggers post. This drove a huge amount of their fan crowd to us.
What I believe is, when it comes to fashion, if you want to earn engagement, it has to come via quality in content, such as tit-bits on styling, what to wear with what etc.
Engaging content will ( Hopefully ) generate interest, that should lead to conversion.
Offline what really worked wonders for us was again two things,
a – College referral programs and branding
b – Our logistics .. which is our star !
Could you elaborate how did you implement referral program?
Both were chosen mainly for the fact that we knew this is where our TG lived !
Retention? are these users acquired on instagram staying with you? what you doing to keep them on the app? what’s your retention rate?
Revenue ? are these users buying or only absorbing content? If they are…what’s the rate of users coming in …to users actually buying ?
Our retention rate from is currently at 73% as of today. Most of them are our crowd from instagram. To keep them on the app ? Well we are a product heavy org. We aim at keeping the process as smooth and as hassle free as possibly , Plus, we are a social selling app. that means the Buyers and sellers get to directly interact via our chat features
Revenue wise , we have an average of 3 buys from all the 74% users that we attained via instagram.
What have been the best Paid UA channel for you? What CPI’s? Retention rate?
b- Instagram ads
c – College event sponsorships
Getting the right Influencers to sell on our platform really helped. It gave perfect opportunity to their style loving followers want to come purchase their clothing, which happend on our app
Instagram is know to know a niche crowd, especially everyone who is aspiring to a stylish lifestyle, this for us was the perfect audience . Advertising to them only helps us grow.
Our CPI has been lowest in Instagram and Colleges. and highest retention through Instagram followed by our social commerce product model
Plus going mobile only really helped !