Sunday, May 19, 2024

Krave Mart – Expanding Revenue Streams

Manifesting New Vertical into Reality

To increase revenue and drive sustainable growth in a competitive tech industry, companies often add advertising as a way to monetize their traffic or allow advertisers to drive traffic to their own sites or listings within a marketplace.

Similarly, monetizing their digital assets, Krave Mart, an online grocery application that delivers groceries and everyday essentials at doorsteps has now become home to multiple local & international brands across Pakistan. Well, this may come off as a surprise, but Krave Mart has its Non Retail business pioneering the new vertical monarchy rapidly. In turn, this has helped the market transform its conventional advertising solutions into a faster, more effective and measurable solution. 

With Non Retail Revenue being a great step towards revenue generation and driving sustainable growth, a number of companies have adapted to it and used their assets in the best possible way to their advantage. In March ‘22, Careem announced a partnership with Lambda Marketing Solutions to introduce a digital out-of-home advertising platform. Similarly, earlier last year, Krave Mart envisioned generating additional revenue streams by introducing their ancillary wing. Manifesting their mission, they launched this vertical in mid-2022, and as of today, it has helped numerous brands save 1/5th of the cost they would otherwise spend on mainstream media.

“Krave Mart has delivered exponential results with every campaign we do and it has been a phenomenal learning journey for both of us. Really excited as to how the year 2023 is going to take it to the next level.” stated, Amna Raheel, Asst. Campaign Manager & Visibility-Ecom Hub, Unilever Pakistan.

A number of brands benefitted from the visibility Krave Mart’s platform had on offer – to name a few;

  • Muzz, Bisconni 20 years celebration, Knorr Blazin made use of Krave Mart’s digital platform to get the word out.
  • Fashion brands such as Sana Safinaz, EdenRobe & more, who are not available on the platform yet, but wanted traffic diversion to their platform upon check out.  
  • Blue band locked a partnership with back-to-back 3 campaigns in 3 months, which was a depiction of a successful campaign.
  • National Foods grew from a low 6-digit brand to a multi-million brand.
  • Surf Excel got a phenomenal response by giving away gift items worth millions via a massive cricket campaign.

Brands also leveraged the assets to generate awareness of new product launches such as Surf Excel Liquid. Continental Biscuits Limited’s (CBL) successful sampling activity is worth mentioning – generating free trials as part of Krave Mart’s ‘Deal Of The Day’, was a good hook to boost orders of Wheatable Cardamom, leading to an organic uplift for the brand.

Krave Mart is the fastest growing q-commerce brand in Pakistan, and with their growth comes the growth for our brand too. Blue Band enjoys a great top of mind awareness and consideration, while Krave Mart has also helped us reach our audiences with Flora.

In the last 6 months, I have worked very closely with Krave Mart’s team to increase visibility and sales of both; Blue Band and Flora and are planning a strong innovative approach with them in 2023,” said Neelam Patel, Digital & Media Manager – Upfield Pakistan.

The Offerings of Krave Mart’s Ancillary Business

Brands are now demanding for premium assets, acknowledging these come with unmatchable results & outcomes. Krave Mart offers its digital, alongside offline assets as a counterpart for a 360 degree campaign.

Digital assets are linked to Krave Mart’s App & Website with which, proven brand homepage impressions have risen by 30% to-date. Overall users who visit the app have risen by over 100% in the past 6 months, which makes them a phenomenal reach platform.

Offline assets include shopping bags, rider bags, helmets, Dark Store fascia, sampling & more! To name a few executed, OOH is a hot favorite for brands such as Lipton, LU, Shan & some more. With an ever-increasing rider fleet of 450+ riders & coverage in 85% of Karachi, Lahore & Rawalpindi, it has proven to be a good medium of communication that trickles down to small streets, lanes, & neighborhoods.

Bilal Safder, Head of Ancillary quoted: “In the age of digitization, brands don’t shy away from exploring new marketing channels to amplify brand communications in order to create awareness, generate trials or to gauge valuable consumer insights. Henceforth, Krave Mart Ads serves as a new catalyst for the brands to serve the very ambition via digital, in-app and offline brand visibility campaigns. These help them win customer delight, while also letting Krave Mart associate itself with brands, thereby creating a stronger brand equity and improving the financials to help the business sustain in the longer run.”

The New Vertical (App Monetization) – Final Run Down

Krave Mart has revalued itself by reinventing its monetization strategy and with the competence of the company’s valuation coupled with the increasing potential; this domain promises Krave Mart with the perfect ingredients to become one of the leading profitable online shopping platforms in South Asia.

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