SUMMARY
The new offering enables restaurants to redirect customers straight from social media posts and advertisements to their menu pages on the food delivery app
Smart Links’ pilot so far has driven over 4 Mn menu sessions for 35,000+ restaurant partners, Swiggy said
The development comes as Swiggy gears up for its much awaited $1 Bn public listing on the bourses later this year
Foodtech major swiggy
on Tuesday (April 23) announced the launch of its new marketing tool called ‘Smart Links’. The new offering enables restaurants to redirect customers straight from social media posts and advertisements to their menu pages on the food delivery app.
“They (Smart Links) are custom links that restaurants can share on their social media profiles, directing customers straight to their menu page on Swiggy. This means that when you see that tempting video on Instagram, you can easily order from that restaurant without searching for them on your food delivery app,” the company said in a statement.
The foodtech major said that the new offering allows restaurants to leverage their social media following and effectively convert their reach into sales. It added that the new tool helps restaurants widen their online reach, drive orders, and increase revenue.
The IPO-bound company also claimed that Smart Links also offers restaurants insights into customer behaviour, adding that the new product tracks user journey post clicking on an advertisement.
“By enabling this tracking, Smart Links help restaurant partners assess the performance of their social media campaigns more effectively. This data allows them to optimise future campaigns, ultimately leading to more efficient and successful marketing strategies,” Swiggy added.
The Smart Links pilot, as per the company, has driven more than 4 Mn menu sessions for 35,000+ restaurant partners so far.
“Smart Links, which Swiggy is customising for free for all restaurant partners, will be a game-changer by giving restaurants the power to easily access and customise these links. This allows them to measure individual channel performance and compare all in the owner app, thereby promoting themselves effectively, driving actual orders, and gaining a better understanding of their customers as well as spend on online platforms and social media,” said Deepak Maloo, assistant vice president for supply at Swiggy.
The new offering comes as the foodtech gears up for its much awaited $1 Bn public listing on the bourses later this year. Just days ago, Swiggy turned into a public limited company, saying the transition would help it raise funds from the public, including through an IPO.
In preparation for the market debut, it has been streamlining and consolidating operations. Last week, the foodtech giant merged Swiggy Mall with its quick commerce platform Instamart. In March, Swiggy also merged its premium grocery vertical InsanelyGood with Instamart.
With Swiggy’s plans to go public picking up pace, the US-based fund manager Invesco marked up the company’s valuation by 19% to $12.7 Bn earlier this month.
Swiggy reported a loss of $207 Mn (INR 1,720 Cr) in the first three quarters of the financial year 2023-24 (FY24). In the entire FY23, its net loss stood at INR 4,179 Cr.
