Smartcoin program is another option for you to promote products and increase your orders on Meesho. In this program, you get a chance to offer Smartcoins on your products that can be used by customers to avail discounts on their future purchases. For eg, if you give a 5% discount contribution on a saree, it will get converted into Smartcoins equivalent to 10% of the price of the saree (2x of the discount offered). Customers who order that product will earn 10% Smartcoins after the product is delivered and its return period is over.
These Smartcoins can be used by customers when they order next to get a discount (1 Smartcoin = 1 Rupee), thus increasing chances of repeat purchases from them.
You will be charged only for successful orders (no charge for cancelled or returned order) basis your smartcoin discount contribution % that you gave during participation. For eg – T-shirt price is Rs 300 , and your Smartcoin contribution is 5%, then you will be charged Rs 15 (5% * 300)
Users will receive 30 Smartcoins (2x of the contribution value) as additional bonus under this program.
How is this different from other promotional construct?
In this program, seller does not give direct discounts to customers. Instead, customers will earn Smartcoins (1 smartcoin = 1 Rs.) on ordering that product from that seller.
These Smartcoins can be used by customers to get discount on their next order.
For eg – A seller participates in this program on a saree of Rs 300 with a 5% discount contribution, seller offers 15 (5% * 300) Smartcoins on it If the customer purchases that saree, they will earn 30 Smartcoins (2x of the contribution as added bonus) on this product.
Is it beneficial?
Increase your orders with additional bonus: If seller provides 5% discount contribution ,there is an additional 5% bonus given as part of this program and user finally receives 10% smartcoins, thus products on loyalty becomes more attractive for users.
More visiblity on the platform: Products opted-in on this program are shown with an additional tag on listing pages, which increases the likelihood of users clicking on the product and ordering it.
How to participate?
Sellers can follow these easy steps to opt-in to the Smartcoin program:
Go to “Promotions” from the left side panel and then click on the “Smartcoin Program” tab
Click on “Add Products”
Select the products, select opt-in duration and add your contribution
Click on “Add Products to Program”
Your opt-in will start from the chosen date
How much fees is charged from sellers non participating in this program?
Sellers are charged basis their the seller contribution.
For eg: Seller chooses to give 5% contribution on a saree worth Rs 300 seller will be charged Rs 15 (5% * 300) when a user orders this product.
What is the integration option duration of the program?
Minimum opt-in duration for the program is 14 days, sellers can also choose to continue their opt-in for a longer duration.
What is the minimum seller contribution percentage for a program?
Sellers participating in the program need to give a minimum of 4% contribution.
How can the user utilize earned smartcoins?
Users can use the Smartcoins to get discount on any product across Meesho on their next purchase.
How can I check which products added in the smartcoin program?
Visit the “Smartcoin Program“ tab under “Promotions” to see your products that are live in the Smartcoin program.
