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Why mydala's Business Model is so successful?

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mydala’s Company Overview


mydala is a leading online discount coupon and deal marketplace based in India. Founded in 2009, the company has established itself as a premier platform for businesses to reach out to consumers by offering attractive deals and discounts. With a presence in over 200 cities in India, mydala serves millions of users, helping them save money on a wide variety of categories including restaurants, spas, salons, health & fitness, and entertainment. The company's primary mission is to connect consumers with local businesses, enabling them to discover the best services and products at discounted prices. Business Model: mydala operates on a business-to-consumer (B2C) and business-to-business (B2B) model, serving as a bridge between local businesses and consumers. Businesses partner with mydala to offer discounts and deals on their products or services. These deals are then promoted on the mydala platform, which attracts consumers looking for discounted services or products. This model allows mydala to provide value to both businesses and consumers. Businesses benefit from increased visibility and customer reach, while consumers enjoy significant savings on purchases. Revenue Model: mydala's revenue model is primarily based on commission income. For every deal purchased through the platform, mydala charges a percentage of the deal price as a commission from the merchant. This commission-based model is the primary source of revenue for the company. Additionally, mydala also generates revenue through advertising. Businesses can pay to have their deals featured prominently on the mydala website and app, leading to increased visibility and potentially more sales. This dual revenue stream ensures a steady income for mydala while providing value to both consumers and businesses.

https://www.mydala.com/

Country: India

Foundations date: 2009

Type: Private

Sector: Consumer Services

Categories: Internet


mydala’s Customer Needs


Social impact:

Life changing: affiliation/belonging, motivation

Emotional: rewards me, fun/entertainment, provides access

Functional: saves time, simplifies, reduces cost, variety, informs


mydala’s Related Competitors



mydala’s Business Operations


Cross-selling:

Cross-selling is a business strategy in which additional services or goods are offered to the primary offering to attract new consumers and retain existing ones. Numerous businesses are increasingly diversifying their product lines with items that have little resemblance to their primary offerings. Walmart is one such example; they used to offer everything but food. They want their stores to function as one-stop shops. Thus, companies mitigate their reliance on particular items and increase overall sustainability by providing other goods and services.

Advertising:

This approach generated money by sending promotional marketing messages from other businesses to customers. When you establish a for-profit company, one of the most critical aspects of your strategy is determining how to generate income. Many companies sell either products or services or a mix of the two. However, advertisers are frequently the source of the majority of all of the revenue for online businesses and media organizations. This is referred to as an ad-based income model.

Customer loyalty:

Customer loyalty is a very successful business strategy. It entails giving consumers value that extends beyond the product or service itself. It is often provided through incentive-based programs such as member discounts, coupons, birthday discounts, and points. Today, most businesses have some kind of incentive-based programs, such as American Airlines, which rewards customers with points for each trip they take with them.

Digital:

A digital strategy is a strategic management and a business reaction or solution to a digital issue, which is often best handled as part of a broader company plan. A digital strategy is frequently defined by the application of new technologies to existing business activities and a focus on enabling new digital skills for their company (such as those formed by the Information Age and frequently as a result of advances in digital technologies such as computers, data, telecommunication services, and the World wide web, to name a few).

Discount club:

The discount club concept is built on perpetual high-discount deals utilized as a continual marketing plan or a brief period (usually one day). This might be seen as a reduction in the face value of an invoice prepared in advance of its payments in the medium or long term.

Revenue sharing:

Revenue sharing occurs in various forms, but each iteration includes the sharing of operational gains or losses amongst connected financial players. Occasionally, revenue sharing is utilized as an incentive program ? for example, a small company owner may pay partners or colleagues a percentage-based commission for recommending new clients. Occasionally, revenue sharing is utilized to share the earnings generated by a corporate partnership.

Transaction facilitator:

The business acts as an acquirer, processing payments on behalf of online merchants, auction sites, and other commercial users for a fee. This encompasses all elements of purchasing, selling, and exchanging currencies at current or predetermined exchange rates. By far the biggest market in the world in terms of trade volume. The largest multinational banks are the leading players in this industry. Around the globe, financial hubs serve as anchors for trade between a diverse range of various kinds of buyers and sellers 24 hours a day, save on weekends.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

eCommerce:

Electronic commerce, or e-commerce (alternatively spelled eCommerce), is a business model, or a subset of a larger business model, that allows a company or person to do business via an electronic network, usually the internet. As a result, customers gain from increased accessibility and convenience, while the business benefits from integrating sales and distribution with other internal operations. Electronic commerce is prevalent throughout all four main market segments: business to business, business to consumer, consumer to consumer, and consumer to business. Ecommerce may be used to sell almost any goods or service, from books and music to financial services and airline tickets.

Group buying:

Group purchasing, also referred to as collective buying, provides goods and services at substantially discounted rates in exchange for a minimum number of customers. Typically, these websites offer a discount of the day, which becomes active after a certain amount of individuals agree to purchase the goods or service. In addition, numerous group purchasing sites operate by arranging discounts with local businesses and increasing foot traffic in return for lower pricing.

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