CashKaro is currently India's largest and fastest growing cashback and coupon website. Using the platform, users can get Cashback on all online orders at Snapdeal, Myntra, Amazon and the other 500 plus ecommerce partners. CashKaro provides you with a cashback and gives you the option of paying in addition to coupons and ongoing sales, which is a great way of saving money.
They offer deals and discounts on more than 1500 plus brands across India. At the time of writing, the site has got over 150,000 registered members who save an average of Rs 20,000 to Rs 25,000 per year, thanks to Cashkaro. Cashback as a concept is very popular in the western countries and has recently managed to take off in India.
CashKaro became a well known for its success in social media platforms. The website gained 2.9 lakh Facebook fans in less than 6 months time. This was an achievement for the company considering the company wanted to build its brand and was looking for a key customer relation management channel.
A Brief History of CashKaro
CashKaro was formed when Rohan and Swati Bhargava decided to establish a coupon based business model in 2011, after leaving behind a secure life as Investment bankers in the United Kingdom.
The resounding success of the cashback companies in the US and UK, prompted Swati to start such a venture. The rebate business is a multibillion dollar business both in China and US. This inspired Swati and Rohan to try out something of their own. Swati never felt the need to move back to India and continued working in London, but the success of their venture, convinced the couple to shift their focus to India.
They then decided to extend their business to India in April 2013. The company started out with a small team in India, while the co-founders stayed in London. The two realized that the company needed funding and went on to raise more than Rs. 5 Crore in just 48 hours.
The investors knew that the ecommerce market in India had unlimited potential and more than 500 ecommerce platforms such as Amazon, Myntra and Jabong got on board with them. This led to the impressive growth of the company making it India's leading coupons website, with transactions exceeding Rs 10 crore.
The company successfully fulfils over 5,500 exchanges daily and since its inception has helped users save a whopping Rs 200 crore. The business model which allows retailers that enlisted in CashKaro to pay them a commission, which would trickle down to customers as cashback, found immediately success in India.
This model ensured that their business was not impaired by Goods and Service Tax directly. The main revenue for the company is from cashbacks. They also offer promotions post and talk about your products and services to their wide audience. The main competitors of CashKaro are Coupon, Dunia, Grabon, etc.
Objectives of CashKaro's social media campaign
Being a late entrant, CashKaro wanted to use Facebook, twitter as its main social media channel to build its brand.
The objectives of Facebook campaign were:
- Make people aware that they can save so much money through CashKaro.
- Get fans to sign up to Cashkaro (Free membership) and increase engagement.
- Build Facebook as a key customer relationship management channel.
- Raise awareness of the brands CashKaro Deals and offers and a channel for product launches.
- Educate people on how cashkaro and its policies work, its timeline of payments and methodology involved.
- Understand customer shopping preference in order to customize the content.
The objectives of Twitter campaign:
- Special offers and deals were tweeted on regular basis to increase visibility.
- Relevant Hashtags were used for those tweets.
- Influencer relationship helped the campaign grow, as famous twitter personalities from India got a customized mug branded by Cashkaro.
- Tweets for contest and campaign were also individually tweeted to invite people to play for the contests.
- Making conversation with target audience and the Twitter audience on a daily basis to grow the follower base.
Contests and Campaigns on Facebook and Twitter
- Cashkaro tagline contest – audience were asked to come up with a fitting slogan which is appropriate for Cashkaro. This contest saw a surge in participation and grew up to 500 plus responses.
- Twitter influencer’s campaign – customizes CashKaro branded mug set sent to selective handpicked Twitter influencers.
- Guess the price contest – set over a span of 3 days, this contest was a hit on twitter and Facebook. A product price was to be guessed after which the exact price was revealed.
- In an effort to offer every blogger something unique, Blog Karo win Karo contest was ideated and run across Facebook & Twitter.
- The three day Great Online Shopping Festival was promoted with much grandeur across all three channels – Facebook and Twitter with periodical posts for engagement, tweets with hashtags and listening tweets.
- In order to make the people participate with the brand and compel them to like and share the content, attractive deals, interesting posts, questions, puzzles were posted every day.
- A brilliant comic strip of 15 episodes with characters Raja and Rani were introduced by the company in a campaign, who share their amusing shopping experiences and how Rani loves shopping through Cashkaro.
- To leverage the impact IPL has on social media, exclusive 2 month long IPL campaigns were run across Facebook and Twitter with unique, customized posts, surveys on matches and Predict & Win contests for day to day matches etc., were run. During the time, there was an immense surge in engagement and participation from the social media audience.
Results of these campaigns
- The main results was that it elevated CashKaro into a well-known ecommerce and cashback site on social media that led to its prominence in growth.
- CashKaro reached a mark of 2.9 lakh fans on Facebook from just 17,000 fans and engaged them with most unique ways of targeting, interaction and promotions.
- CashKaro contest were covered by Insights which is one of the leading Social Media blogs in the country.
- CashKaro was constantly spoken about by India top most twitterati.
- 40% of the traffic for the company comes from Facebook.
- The company has the largest Facebook presence of all deals related sites in India and tops the chart when it comes to engagement on the Facebook page among Indian ecommerce brands irrespective of whether they are larger, older or well established.
- Countless everyday posts got over 1,000 Likes and a number of comments and Shares.