India's premiere comprehensive ticketing, information and analysis solutions provider, Bookmyshow has been a revelation in the e-tailing segment. Mr. Ashish Hemrajani, Founder and CEO, Bookmyshow unveils the tactical brilliance and strategy of the portal to Aadeetya Sriram.
Aadeetya Sriram (AS): Tell us about your company, its journey and U.S.P?
Ashish Hemrajani (AH): Well, we are a 12 year old company, one of the very first to be in the e-commerce space in India when it hardly existed. We have seen 2 boom bust cycles. We operated in difficult circumstances in the early years due to lack of internet penetration and connectivity, online payments usage etc. We are a utilitarian service and customers will like us for not WHAT we offer but HOW we offer it. Our T.G is primarily between 18-40 age people.
AS: What sort of e-retailing services you provide?
AH: We sell tickets online, for movies, plays, concerts, events and sports.
AS: Your services are available on Facebook, how was that achieved? How has that helped you in reaching to a larger virtual traffic?
AH: More people tend to now communicate via Facebook rather than personal emails, or look for recommendations on what friends are doing or places they are going to. We just added a layer on top of that of e-commerce / transactions. So now you can view information, invite friends, you pay for your tickets and they pay for theirs. Also, once you complete your transaction you can post it to your profile to let your friends and closed loop know of where you’re headed for the evening.
AS: Do you have some sort of agreements with Iphone, Blackberry and Nokia? Could you tell us about your international technology?
AH: We do not have any agreement with the likes of Blackberry and Nokia. We just thought that platforms were very user friendly with a large number of customers now accessing the internet via these devices. We put out apps that allow you to book your tickets with almost the same user experience as you would have on the internet. With Nokia we have engaged and entered into various relationships to add to their growing needs to integrate with OVI Maps or their new handset launches.
AS: What are the special packages/schemes that you offer?
AH: We have 10’s of offers running on Bookmyshow with various banks and mobile companies. We run some interesting programs with Visa for Visa card holders on blockbuster weekends – where we give away free tickets to discounts at other times. We have built a property called go-indulge for the discerning customer who seeks experiences beyond just ticketing for movies and plays. In addition, we also have introduced interesting packages regularly like; ‘Go Sporty’ – a special Hospitality Package for cricket lovers where they can actually book the World Cup Tickets along with a package where there will be treated like Royalty. It is an experience that one can’t forget. The customers will get to enjoy a luxurious hi-tea at a 5-star hotel, be treated to complimentary World Cup merchandise that would set the mood up for the match. They can also enjoy deluxe coach transfers from the hi-tea venue to the stadium and back; to avoid the worries of parking. The hotels in each city differ. Go Experience –a special package where one can spend a romantic evening on-board of a super yatch or get a personalised training from internationally certified instructors
AS: Do you have staff personnel for your networking? Do they undergo any training?
AH: Yes, we do have staff for networking. They undergo basic training about how to handle customer complaints and queries.
AS: What sort of investment did you have during induction? When did you break even?
AH: We are EBITDA + company. We broke even earlier last financial year.
AS: Your annual turnover for the year? % growth compared to last year?
AH: Bookmyshow poses a 40% CAGR in revenues and over 90% market share in the online entertainment ticketing space.
AS: What sort of plans do you have for the future?
AH: Well, our focus is on the larger sporting events such as sports and live events on the supply side. On the distribution side we are largely focusing on social media platforms and the mobile – where we think the next cycle of growth will come from.