Zomato, one of the largest food discovery and delivery platforms in India, has come a long way since its inception in 2008. What started as a small-scale platform has grown into a massive empire, with the brand expanding globally and successfully catering to millions of patrons. In this article, we will take an in-depth look at the business strategies that have made Zomato a success and where the company aims to go from here.
Customer-first Approach
Zomato’s business strategy revolves around its customer-first approach. The brand acknowledges the importance of customer satisfaction, and they have implemented a range of measures to ensure the same. One such measure is through their innovative delivery system, which reduces the waiting time for customers when they order food. Additionally, the company has implemented a strict quality control process, which ensures that its customers receive the best quality food available.
Data-Driven Decision Making
Zomato’s success can also be attributed to its data-driven approach. The company collects massive amounts of data on customer habits, preferences, and restaurant traffic. The data is then analyzed, and insights are drawn to help the brand tailor its offerings accordingly. The company has a sophisticated recommendation system designed to suggest restaurants and cuisines that its customers might find interesting based on the data collected.
Expansion Through Acquisitions
Zomato has ventured into the acquisition game early on and has since acquired a range of businesses that have helped them achieve their business strategy goals. For instance, they acquired Urbanspoon, a North American restaurant review platform in 2015, and recently acquired Streak AI Technologies, a CRM tool. These acquisitions have assisted Zomato in expanding its customer base internationally, launching new products, and building new businesses.
Investing in Technology
Zomato’s technological investments have played a vital role in its success. The company has implemented a range of new technologies to improve its ordering, delivery, and tracking systems. One such technology is the real-time order tracking system, which enables customers to track their order in real-time until it’s delivered to their doorstep. Additionally, the company has invested heavily in its mobile app, which has garnered millions of downloads and an enormous amount of confidence in digital payments.
Conclusion
In conclusion, Zomato’s business strategy has helped it accelerate from a simple food discovery platform to one of the most prominent players in the restaurant industry. Their customer-centric approach, data-driven decision making, acquisitions, and technological investments have helped the brand capture and sustain its market position. As Zomato ventures into new markets and expands its customer base, it will be fascinating to watch the brand apply these strategies, evolve, and develop more innovative ways to succeed.
