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If you are an IPL fan, you might have watched the PharmEasy, popular advertisement, "Take it Easy, PharmEasy" every over. How PharmEasy managed to get on board for an expensive IPL ad campaign? Let's take a look at it today.
Pharmeasy is India’s leading online platform providing same-day doorstep delivery of medicine and healthcare products across pan-India. Based out of Mumbai with a valuation of $1.5B and revenue of just 2360 crores (FY21).
Suppose you are sick and need medicine but cannot go to the store or want a medication that is not available in most of the stores. What will you prefer? Going yourself to get that or order it? Wandering all over the city to get it or order it via Pharmeasy and get it delivered to your doorstep? The second one! Not only this, you can even get your test sample collected or get teleconsultation. This convenient platform is also providing healthcare products to a network of pan-India. It looks like the ‘Pharmeasy marketing strategy made it stand out in the market.
Let's focus on some different market strategies that PharmEasy followed to get onboard for an entire season of IPL where each 15seconds advertisement demands 22K USD.
Marketing Strategies...
Marketing strategies are the most important part of any business. Whether it is online or offline, it creates brand recognition among the audience. Without a far-sighted marketing strategy, no business can survive. So, let’s know the marketing strategies adopted by Pharmeasy.
TV ads:
Tv commercials are a great way to create brand awareness. Pharmeasy too took the help of TV for the promotion of its brand. They even made a music track for their ads. Taking the tune and rhyme of the popular song ‘Urvashi’, they launched their ad after replacing the ‘Urvashi’ word with ‘Pharmeasy’. Their slogan goes this way ‘ Pharmeasy, Pharmeasy, take it easy Pharmeasy”.Their ad campaigns were successful attempts to get brand recognition. Let’s see some of them-
Bhatak Nritya:
Apart from being informative, the ad was funny though. It shows how some medicines can be unavailable at various medical stores and you have to wander around for so long to get one. The ad focuses on how you can order the same medicine through Pharmeasy and get it delivered to your door without wandering around the city.
followed by the hashtag like #GharBaitheBaitheTakeItEasy:
This time, Pharmeasy has roped in Aamir Khan for the advertisement. This advertisement is focused on the same-day delivery of healthcare products delivery. It shows Aamir Khan creating awareness among the family to buy all the healthcare equipment from Diapers to the BP monitoring device without stepping a foot outside the home.
MEME Marketing:
Memes are a great way to inform the youth population of the country since they get fascinated by them. The meme is a trend and to make your point clear, you have to go with the trend. Pharmeasy too took the help of memes for creating awareness about Pharmeasy. It was a crucial step in order to engage the youth audience, which was very successful.
Influencer marketing:
Nowadays influencer marketing over social media platforms is very popular and engages a lot of traffic w.r.t onboarding the right influencer. Pharmeasy also has collaborated with various influencers including Viraj Gehlani and Sapna Verma to promote their brand among the audience.
Content Marketing:
Pharmeasy has also stepped into content marketing. It creates content that may fulfill the queries or requirements of the audience. To increase its online reach, Pharmeasy generates educational and informative content in the form of blogs and articles. It further uploads engaging videos to improve its organic reach.
Digital ads:
Pharmeasy also takes the help of online media in promoting the brand. It streams its ad on various social media channels, search engines, mobile applications, and websites to grab the viewer’s attention. This way, Pharmeasy catches more and more audience via online platforms and inform them about the brand.
Sponsorships:
Pharmeasy also gave sponsorships to make it's brand a ‘trustable’ one. These sponsors get a space for their brand during the ads as well as on the uniform of the players. Hence, to be a reliable brand, Pharmeasy invested in cricket to associate itself with it.
SMS and email marketing:
Once you signup for Pharmeasy’s website, they get your data to send you notifications or alerts regarding the offers or discounts from the company. Pharmeasy sends automated messages to users to make them aware of various offers that they might miss in their absence.
Alike others, Pharmeasy too has many sources of income.
Advertisements are the most used and perhaps a great way of earning revenue. Pharmeasy sells its advertisement spot on the home page to various pharmaceutical companies and others. Hence, they charge money for the space they sold them for the promotion of their brand.
Discounts: Attractive discounts are another way of getting more customers. It also adds to the revenue of Pharmeasy
Commission: As you all know that Pharmeasy delivers medicines and healthcare products to its customers. It earns a commission from the customers for selling them via the platform.
Delivery charge: Apart from them, it levies delivery charges on the products. This is another way of earning revenue through customers.
And that's how they managed to afford prices for the IPL ad campaign. Hope you liked the article. Till then Share it and see you in the next one..........