Marketing strategy of Zomato – Zomato Marketing strategy: Zomato is a restaurant search and delivery and discovery business. It was established by Deepinder Goyal and Pankaj Chaddah in 2008. Zomato is currently operating across more than 24 nations. It was initially launched under the name of Foodiebay but was later changed to Zomato in 2010.
Zomato has also expanded its operations overseas in Sri Lanka, Qatar, Turkey, Brazil, Indonesia, and more. Zomato claims that it was profitable in each of the 24 countries that it operates in. In February of 2017, Zomato introduced its zero-commission model for a partner restaurant.
SmartTech magazine reported that Zomato was one of the most promising 25 internet businesses and has received regular funding from Info Edge India.
Did You Know About Zomato?
Company : Zomato
CEO: Deepinder Goyal
Founder: Deepinder Goyal
Year founded: 2008
Annual Revenue : ₹1,994 crore
Profit | Net income : ₹816 crore
Products & Services: Zomato being a service offers no product of its own
Competitors: Swiggy | DoorDash | Uber Eats | GrubHub | Deliveroo | Postmates | ChowNow | Slice
zomato Fun Fact : In the year 2020, the most ordered item on Zomato was Biryani with Zomato delivering approximately 22 orders per minute. In 2020, the biggest single order was worth Rs. 199,950 and smallest order was worth Rs. 10 with maximum repeat orders of 360 pizzas coming from 1 customer in Jalgaon
STP in the Marketing strategy Zomato
According to Zomato’s demographic strategizing Zomato focuses on the aged 18-35. The people who are looking to eat out and wish to investigate the restaurants they would like to go to. Zomato has identified a bigger segment of working professionals who would like to eat out and would like food delivered right to their doorstep.
Zomato is also in its own occasions segment and has created a city-wide food-and-entertainment event known as Zealand. Zomato believes there’s an experience that needs to build around food, and Zomato has played a major role in creating that.
It is planning to launch innovative product lines along with business models focused on food, both in the delivery and dine out.
The primary customer for Zomato are young people that are aged 18-35, and those who prefer dining out with their friends or colleagues. Zomato targets customers who frequently rely on reviews and ratings, and are looking to decide on whether a restaurant is good.
These are the customers who are looking to have an enjoyable time with their loved ones and wish to know that the venue is investing. It is also a place for the food lover who is looking to try new meals and have them shared with friends.
They also want to find out where they can get the most delicious food available and also visit the restaurants. The consumers are all those courses restaurant reviewers.
Zomato is a courses platform that connects restaurants, suppliers, customers as well as food producers, and logistic partners. Zomato aims to build an environment that can provide detailed information about eating habits and tastes are tracked all over the world and share information with suppliers.
Zomato is an Indian popular app among young people for eating out. It’s a necessity today to read reviews and suggestions before visiting the restaurant, and Zomato has been advertised as the app they need to look out for when searching for genuine reviews.
With the introduction of Zomato Gold, the company has made dining out more affordable. Zomato Gold has made dining out more affordable for its patrons.
Our mission is to ensure nobody has a bad meal
We want to be the ‘Google’ of food. Our vision is to be the global platform when someone is looking for food locally
Discover great places to eat around you
Distribution in the Marketing strategy of Zomato
Zomato has revealed that around 40% of its total sales were based on referrals. According to Zomato’s data, more than 30% of customers are referred to by referrals, and more than $2 million in orders have been placed using Z coins. Zomato sells its various offerings to customers, which has led to immense success because Zomato can be able to attract customers from any phase.
According to Zomato’s data, customer costs for acquisition is extremely low. Zomato claims that out of its 1.4 million listings it has 150,000 of them are from India and that it has 22 million people join the board each month. Zomato Gold is another program that is based on referrals in which, upon sharing their referral code, the customer is entitled to a month of Zomato Gold services extended.
Brand equity in the Marketing strategy Zomato
The name Zomato has been synonymous with food and dining. It has grown so popular for users that they have reached 21 million per month and claims to be the top market player in food delivery, too. Zomato has been able to grow rapidly because consumers aren’t using Zomato to get discounts but instead making use of it to save time.
To be able to easily access food options and to get accurate information on restaurants. When dining out over 70% of customers review their experiences on the app. Zomato has laid a solid base and is positioned for massive expansion due to its strong name and brand name.
Competitive Advantage in the Marketing strategy Zomato
Zomato has innovative plans to keep customers entertained. Zomato Gold is one of them. Zomato Gold is an exclusive loyalty program for members that offers customers exclusive dining out and drinking privileges with BOGO( Buy One, Buy One) plus 2+2 free drinks.
It is reported that Zomato Gold now has more than 600,000 users. This has aided customers eating more often and, according to restaurant owners, has helped increase customers to their establishments at a greater percentage. Gold has helped make dining out more affordable than it was previously.
Zealand was an event-driven by food, resulting in an event that was a celebration of music and food. This method to transform food into an experience has been a huge success of Zomato.
Strong Brand Name
A strong reputation is vital when it trying to survive in this industry, and Zomato has succeeded in creating a brand that is a symbol of trust and convenience. There’s been a myriad of new players entering the market such as Food Panda or Uber food delivery, but they’ll have to focus on improving their brand’s value to beat Zomato.
It has been able to continuously develop new products and services across multiple verticals and has made sure that it can build on the advantages they have built.
Focus on technology
The most significant benefit Zomato offers its customers is its beautiful user interface. It’s beautiful and accessible to use and has created an ounce of distinction in comparison to its competitors.
The speed at the site’s opening and the mobile application opening is very fast and user-friendly, even for someone new. Zomato is a company that puts an enormous amount of attention and energy into creating an attractive UI for its customers. Zomato has made use of data science and is capable of savoring its way to success.
Zomato has been able to achieve a competitive advantage because it is driven by data. It has managed to boost commercial and operational efficiency such as delivery time prediction and optimization of logistics, ad delivery as well as the process of supply prioritization.
Zomato is planning to adopt the concept of cloud kitchens, which will allow restaurants to grow their reach without having to pay any fixed costs. Zomato’s focus in the area of the latest technology will enable it to remain ahead of the pack.
Competitive Analysis in the Marketing strategy of Zomato
The food business is highly competitive, with the majority of firms doing exceptionally well in the marketplace. Google Maps as well includes an inventory of restaurants in the neighborhood, with reviews, pictures, and ratings.
One of the main advantages Zomato enjoys against Google Maps is that Maps has not yet launched menu listings. Zomato remains a user’s most popular tool for finding restaurants. The primary competitor to Zomato is Swiggy in food delivery. Because of its efficient logistics capabilities, It is providing the best challenge to Zomato.
Foodpanda was a first-mover’s advantage since it introduced a courses order service much before Zomato and caused Zomato to lose its part of the market. Burrp! Another important competitor is Zomato because of its growth from listing restaurants to the event and retail stores The company’s primary goal has been distribution, however, Zomato remains focused on its primary duties.
Another rival to Zomato can be found in Uber Eats and it gets around 3.5-4 million orders each month. Uber Eats and FoodPanda’s acquisition by Ola has changed the landscape. Zomato will need to constantly adapt and improve to keep ahead of the market.
Promotion Strategy in the Marketing strategy of Zomato
Zomato is among the few companies that be successful in the content market and has used images to promote its products. Zomato ensures that its content is always up-to-date and has spent massively in SEOs and SME’s.
Another crucial function is that of social media and has helped Zomato to gain more popularity among its customers. Every one of the campaigns that Zomato has made is proof that the company has decided to stay in the specific niche and knows exactly who they are catering to.
Zomato’s Zomaland festival proved to be an effective method for Zomato to advertise its products. It turned the food into a festival featuring dance, music, and stand-up comedy. Zomato makes use of a variety of tactics, including discount codes and coupons to attract more customers to the site.
Zomato is among the brands that are almost ubiquitous on the web.