Category: Tech Updates.

Hello Campaigners,

Hope you are aware that we had a Major update on COD’s Terms & Conditions from June 2nd, 2017.

If you aren’t aware about our Major update on COD’s Terms & Conditions, we kindly request you to go through the following links,

MDS Version 2.0 – http://blog.mydreamstore.in/archives/1792

FAQ (MDS 2.0)   – http://blog.mydreamstore.in/archives/1786

Recently, Campaigners have been approaching our internal team to sign new COD Service Level agreements in order to convert their accounts from Prepaid –> Prepaid + COD.

At My Dream Store, we always try to identify any problem and automate the manual process by using Technology. As a Part of it, we have identified the problem and developed Service Level Agreement (SLA) Feature which solves end users pain point.

By using this feature, User can convert their accounts from Prepaid –> Prepaid + COD instantly.

This article will explain you about the Procedural flow of SLA Feature.

How to Convert my account from Prepaid –> Prepaid + COD ?

Step 1 – Login to My Dream Store.

Step 2 – Click on ‘My Account’ –> ‘Profile Settings’ (Please refer the image below)


Step 3 – Click on ‘Campaign Settings’ panel and ‘Enable Prepaid and COD for all Campaigns’ check-box. (Please refer the image below)


Step 4 – A Service Level Agreement (SLA) will appear in the inline Pop up. Please go through the Service Level Agreement completely.

Once you are comfortable with Terms & Conditions of the agreement, Please click on ‘I agree to all Terms & Conditions’ check box and click on ‘Agree’ button. (Please refer the image below)

Step 5 – Now, Our System will analyse your Previous returns percentage for all your campaigns.

If the Returns percentage is less than or equal to 30, The System will automatically enable Prepaid + COD for all your Campaigns. (Please refer the image below)


Step 6 – In case, If your Returns percentage is greater than 30, The System will not allow your Campaigns to toggle into Prepaid + COD mode. In this case, You can reach – swati@mydreamstore.in for further Steps.

So What are you waiting for? Go and Explore the Feature and Start Selling more!

Please feel free to reach – sellersupport@mydreamstore.in for further queries.

May the Force be with you,

Cheers,

Team My Dream Store

We as a platform have come forth so far with your sincerity and dedication towards driving more sales. We are thankful to you for using our platform and the fantastic community we are all part of.  Our team has been lately working on lot off data analytics over past few months on understanding how do we improve the profit margins of campaigners.  Here are few interesting observations we made

Gross Profit of campaigner (P)  =   Revenue against delivered products(R)  –  Marketing spend for all orders(M)

P = R- M

To maximise P,   R  should increase and M should reduce.

R  =  Revenue of all products * delivery percentage

M = No of products sold * Cost per conversion

  1. On every 100 prepaid orders received in successful campaigns we are able to deliver products satisfactorily deliver 99.3 products
  2. On every 100 COD orders we receive, we are able to deliver only 60-85 products post cancellations and returns.

To maximize revenue we need to increase delivery percentage.  The industry average return rate for COD for apparel category is 30% compared to prepaid where the delivery percentage is as high as 99.3%.

Why is this return percentage number so high in COD ?

  1. Customer behavior
  2. Poor logistics network

Here are certain interesting facts we observed when we did a return rate analysis

  1. The age group of  18-24 Male had return rate of 39.49%  out of (100 COD orders)  against 35+ which has only 16.9%
  2. Certain niches like devotional and local celebrity niches had return rate close to 50%
  3. The biggest seller birthdays niche has a return rate of 27% over all (prepaid + cod orders)

We had to constantly increase base prices to cope up with new return ratios and we did not like the way it was going.  Certain bad niches or certain bad traffic was penalising other campaigners who otherwise should have better results.

“ To keep the platform democratic in its true sense , we decided to give more power to our campaigners by making them true owners of their business. My Dream Store would just be a technology enabler which still helps you growth hack and realize your dreams.”

Here are certain decisions we have taken which will in effect for campaigns launched from June 2nd 2017. All the campaigns in auto relaunch mode will also be converted to prepaid mode on relaunch.  COD will enabled only a request basis on signing a separate service level agreement.

Summary of changes :

  1. Campaigners own their business completely
  2. We will be removing COD option for all campaigners and will be enabled on a request basis on signing a service level agreement.
  3. Base prices have been slashed (Tee – 295/ Polos & Full Sleeves – 399)
  4. MDS commission is only charged on successfully delivered products
  5. The returned products are invoiced at the cost price with zero margin to campaigner. This  price includes the reverse logistics cost.
  6. MDS will offer a returns management solution which will help campaigners to sell their returns. More details in article below

Service level agreement:   Download here! 

My Dream Store has some interesting changes rolled up its sleeves this June! It’s going to enhance your campaigning experience to an all new level.  Excited?

Let’s go ahead and hush your inner whispers and answer all your curious questions!

What’s the update?

  • All campaigner accounts will be activated with ‘’Prepaid only’’ buying option by default with effect from June 2nd  2017. Trust me that’s a huge advantage for all you guys. Why?

           Know how and why is this change useful to you here.

  • Also, if any campaigner wishes to opt for ‘’Prepaid + COD’’ buying option they will have to request the same by mailing to swati@mydreamstore.in. Please note that once this request of ‘’Prepaid + COD’’ is made it will be activated for your entire account across all campaigns and not just one particular campaign.
  • ‘’Prepaid + COD’’ option will be activated for a user only after we analyze the following parameters:
  1.      Previous sales history
  2.      Their average return percentages
  3.      Niches they are targeting

Other changes:

  • Along with the above change there will also be a slight change in base price as quoted in the table below:

   

Table 1.1

  • Products will be dispatched within 5 business days from date of campaign closure. In case of any anomalies the same will be notified to campaigners. In case of failure of dispatch in 5 business days My Dream Store will offer INR 50 discount per product delayed in dispatch.

Return Management:  (Applicable only for campaigners opting prepaid + cod )

  • Campaigners will be charged for every return product as per the base prices mentioned in the Table 1.1 .MDS is not charging any margin against this, the cost is inclusive of return logistics fare from ( buyers address to MDS warehouse)
  • MDS will be offering a returns management solution. The return inventory will be warehoused at MDS for 90 days. The products which are not sold for more than 90 days will be delivered to the campaigners address via surface mode.
  • For every product that will be reused from inventory we will be charging the campaigner an amount of INR 100 + shipping charges per product as a cost for warehousing, repacking and technology overheads .
  • For every product fulfilled from fresh stock, the  base price mentioned in Table 1.1 will  be charged.

Payout Cycle:

  • For ‘’Prepaid only’’ campaigns payout cycle remains the same i.e. weekly payouts on the basis of challan created in the ‘’Payment challan’’ dashboard.
  • For ‘’Prepaid + COD’’ campaigns payouts will be manually calculated and processed once in a fortnight. Within a month or two this process will also be automated and set in place.

Detailed FAQ’s :

1. I am a new campaigner, I am confused what payment option to choose?

Ans –  We strongly recommend you to opt for ‘’Prepaid only’’  gain some experience and take a well informed decision later.

2. Why are you removing COD?

Ans –   Read Here.

3. Can we sell without COD in India?

Ans – Yes, you can sell without COD in India.

4. How to enable COD for my campaigns?

Ans – You can mail at swati@mydreamstore.in to request for enabling COD.

5. What changes will I see if I enable COD?

Ans –  

          1) Cost of COD returns will be charged from campaigner.

          2) For every product reused from your return, INR 100 + shipping charges per product  will be      charged from campaigner as a cost for warehousing, repacking and technology overheads.

          3) Payouts will be manually calculated and processed once in a fortnight.     

6. How many days it will take for payout to be processed?

Ans –  ‘’Prepaid Only’’ –  Weekly payouts of delivered products. (Same as current system)

            ‘’Prepaid + COD” –  Payouts will be processed once in a fortnight for delivered products.

7. What happens if My Dream Store delays the product and product gets returned?

Ans –   If any product is ready for dispatch later that the promised days as per My DreamStore service levels, such products will not be dispatched at all and the order will be cancelled. Moreover you can claim the profits for such products which have been delayed by My Dream Store.

8. What happens in case of return due to poor quality?

Ans : We have less than 0.2% in quality rejection percentage. If the claim is proved genuine we will wire the profit to you.

9. I applied for enabling COD, but it not enabled why?

Ans : We are enabling COD based on previous history of sales and average return rates on previous data. In case they are very high we might reject your application to protect you from the unwanted risks.

10. How many days will it take to enable COD if I apply today?

Ans:  It will be enabled in 3 business days from raise of request on receipt of signed service level agreement which will be shared with you on email.

11. I have opted for COD, what happens to my old payouts now?

Ans:  Your payouts will be consolidated and manually settled.

12. Will I have a separate dashboard for COD payouts just like prepaid challan dashboard?

Ans: Currently it is not available. Once our tech is ready we will drop an update. It would take another 45-60 days  for the release.

13. What’s is the shipping charge for the different products?

Ans:  For every 500 gms you will be charged INR 60.

14. Can I open a new MDS account just for ‘’Prepaid + Cod’’ campaigns since I want to launch both kind of campaigns ‘’Prepaid only’’ and ‘’Prepaid +COD’’?

Ans:  Yes you can do so.

Discounts are a great way to draw people to your product page. Now you can also create discount coupons for your campaigns and improve your sales.

Here is a quick guide on how to create and track discount coupons from your Mydreamstore dashboard.

How to Create & View Discounts?

Step 1:
Login to your My Dream Store account.

Step 2: Click on ‘My Account’‘Discount Dashboard’.

Step 3: Click ‘Create Discount’ button. Select the Campaign for which you want to create the discount code.

Step 4: Enter the name of the discount code (For Example: GET50) in the ‘Discount coupon’ section. Enter the Value of Discount (For Example here Rs 50 is the discount amount) in ‘Discount Value’ section and select the Validity of the Discount in ‘Valid Till’ section. Click on ‘Create Discount’ button.

Note: You can create only one discount coupon per campaign.

Step 5: In the ‘View Discounts’ section you can view the current discount codes created as shown in the image below.


Click the ‘Modify’ button to extend or reduce the duration of the code or even ‘Enable’ or ‘Disable’ the coupon code by clicking the corresponding button.

Step 6: Under ‘Discounts History’ section, you can get information on Quantity of Products for which Discount is applied by buyers, Discount Value and Product Types for individual Campaigns.

Select the required Campaign from Drop down list box to get the required information.


So what you are waiting for? Go and Explore the Feature and start giving discounts to your buyers and make more conversions than usual. Login to your Mydreamstore account and start experimenting the discounts feature.

What is Campaign Analytics?

Campaign analytics helps you understand the funnel data and demographics data for your campaigns. From the campaign analytics, One can get insights on Total views, Add to Carts, Products sold. It also gives information regarding referral sources, locations and Creating referral links.

This enables you to identify the best channels, sources that are driving sales and help you in optimizing your ad campaigns.

How to access Campaign Analytics?

Step 1: Login to MyDreamStore’s account. Switch to Campaigner dashboard.

Step 2: Click on “Analytics icon “of the particular campaign for which the analytics is to be obtained.

Step 3: You are on the “analytics page” right now.  The analytics page will show data of total sales and view your campaign have got.

The below image shows the Number of Products Sold and Total number of Views your campaign has received. You can also select the time period of the data.


‘Track Conversions’ section breaks the data by product type and shows info regarding Add to Carts as well. Here you can also create trackable URL for your perusal. For Example, You can create different source URLs for Facebook Ads, Mailers, Twitter and track channel wise performance. Please read more about Trackable URL here – https://goo.gl/Y7W9dR

The “Referrers” section display the Source of traffic. (For Ex., Facebook or Google or Direct Traffic etc.)

The below gives your info on top cities visiting your campaign.

Hi Users,

We are working on features that give more freedom, flexibility for our campaigners to manage their online business more easily. Introducing two new feature updates for this month,

1) Payment Mode Conversion

2) Universal Level Affiliate

Payment Mode Conversion

Now campaigners have the freedom to toggle between the two Payment mode options ‘Prepaid Only’ and ‘Prepaid + Cash on Delivery’ for their campaigns.

Using this feature, say you have launched a campaign in ‘Prepaid Only’ mode you can later change to ‘Prepaid + COD’  and you have launched your campaign with ‘Prepaid + COD’ option you can switch to accept ‘Prepaid Only ‘ orders.

To change your Payment Mode, Go to your Dashboard, click on Campaign settings button.

Now, click on the Payment Mode Conversion tab. In case your campaign was previously enabled to accept only Prepaid orders,  here you will see the option to switch to take both prepaid and COD orders.

You can do this by clicking the ‘Enable Prepaid + COD’ button as shown below,


In case now you want to enable just the Prepaid orders click on the ‘Enable Prepaid Only’ button.
One Click Affiliate

One Click Affiliate helps you mark all your campaigns Affiliate Enabled with just a click. Please read more about Affiliate Feature here – https://goo.gl/ecB05e

To use this feature, login into your My Dream Store dashboard, Click on ‘My Account’ and select ‘Profile Settings’.


In the Campaign Settings menu, tick the box ‘Make all my Campaigns Affiliate Enabled’.

Will update you with much more exciting feature updates next month. Keep visiting this blog!

What is trackable URL?

Trackable URL is a feature in which a campaigner can create multiple links (Multiple URL’s) for a single campaign. Trackable URL is available in ‘Campaign Analytics’ section.

What is the use of trackable URL?

For a campaign, marketing will be done on mediums like Email, Facebook, Twitter, Whatsapp, Hike etcetera. If you want to track data like View Content, Add to Cart, Conversion(Purchase) on different mediums, you can use trackable URL feature.

How to use trackable URL?

Step 1: Login to your My Dream Store account.

Step 2: Click on ‘My Account’ and select ‘Dashboard’ option. Toggle into ‘Campaigner Dashboard’ if required. (Please refer the image below)

 Step 3: Go to the required campaign for which you want to create trackable URL. Click on ‘Analytics’ option. You will be redirected to ’Analytics’ page now. (Please refer the image below)

 Step 4: You are on the ‘Analytics’ page now. Click on ‘Create Trackable URL’ option. (Please refer the image below)

Step 5: Trackable URL window opens up. On the ‘Enter Tag’ option type in the medium on which you want to track the data. (For Example Facebook, Twitter, Email etcetera)

A trackable link will get created by affixing your desired tag name. (Please refer the images below)



You can use these trackable Links/URL individually in different mediums like Facebook, Twitter, Email to track different data points.

Step 6: As you can see in the image, Data like ‘View Content,’ ‘Add to Cart’, ‘Conversions(Purchase)’ etcetera for the different medium like Facebook, Twitter, Email are being tracked.

 So, What you are waiting for? Go and explore trackable URL feature now! 🙂

Manage-Storefront


Hey Folks! You told us, we heard that! This time we have updated our Storefronts with cool new features to manage and organize your products easily.

  1. Added Tag, Category Filters
  2. Modify Product Positions with drag-drop.
  3. Upload different Store Banners for Desktop, Mobile. Edit your Store Description from a single page.
  4. Edit Campaign Title, Description, Tags from ‘Manage Storefronts’ page.

How to Create a StoreFront 3.0? What are the features in it?

Step 1: Login to your My Dream Store’s account. Click on ‘My-Account’ and select ‘Store-Fronts’

SS 1

Step 2: You are now on the Storefronts page now. Click on ‘Create a new one’ button to create a Storefront.

SS 2

Step 3: In the next screen, enter the Name of your storefront, custom URL and add a cool description to it. You can also add custom banners to your storefront to give it an appealing look. Click on ‘Edit Desktop Cover’, ‘Edit Mobile Cover’ buttons to upload your banner images. Select the Campaigns you wish to add in this storefront and click on ‘Create’ button. (Please note that you should select at-least 2 Campaigns to create a store-front)

SS 3
Note: Desktop Banner Resolution: 1288*429 px, Mobile Banner Resolution: 375*282 px

Step 4: Your Storefront is now created with the selected campaigns. In this new update you can notice a buyer can filter products based on the Category, Tag filters. This makes the store much organized. One can also interchange product positions in the storefront just by ‘drag and dropping’ them to the desired positions. This helps campaigners to feature his key products in the store.

SS 4

Below is an example of how a campaigner has organized his different birthday niche campaigns under single URL. With this the buyer has more freedom to navigate and look for the products he wish.

SS 5

So what are you waiting for? Login into your My Dream Store account and try out the new ubercool storefronts feature!

‘’Let’s go invent tomorrow instead of worrying about what happened yesterday’’

                                                                                                                          – Steve Jobs

In an attempt to give a better tomorrow to our campaigners we at MDS are continuously working towards building a sustainable technology. As we started scaling, we  realized some challenges with the existing Payout system which we wished to solve:

– Earlier the campaign hit payout only when all the products are delivered/ returned. We call it as a campaign level settlement. Being a campaign level settlement, even if a single order wouldn’t get delivered (due to buyer unavailability/ transit issues) payouts would be on hold causing delayed payouts. Eg : Campaign got successful & 121 products are sold, 110 delivered, 9 returned, 2 are still in transit even after 10 days. Sometimes logistics cause issues like these.- Campaigners willing to start new campaigns couldn’t start off due to lack of funds caused by delayed payouts.

We figured out that this kind of payout settlement of your payouts was barring you from receiving your deserved profits on time. Hence, we have created an all new payout system which takes care of all the above challenges and many more additional benefits.

– It’s an order level settlement. Now you are paid on weekly basis for the products that are delivered till certain point of time.

– It’s a weekly cycle and hence campaigners will always have enough funds to start new campaigns.

Following is a detailed view of how the changes look like.

DASHBOARD:

Each of your campaign block now contains a ‘’Campaign ID’’ which should be used as a reference number for that particular campaign while inquiring about that campaign with us.

PAYOUTS:

On clicking on your campaign block you will now see the options as shown below. You will now be able to download a detailed ‘’Campaign Report’’ which will help you track payouts at an order level.

Payout 1 final

 

a) Payout Earned: Total payout you have earned from the campaign

=(Products delivered*Profit per product-affiliate charges)-TDS

b) Affiliate Charges: It’s the amount that goes to your affiliate from your profit for every sales from the affiliate link provided, the affiliate link is enabled.

For Eg : Say, Base Price and Selling Price of the product is 300 and 500 respectively. Therefore profit per product is 200. Lets consider you sold 5 products out of which 2 were sold through affiliate link. Now, your profits would look as follows:

Payout 2

c) Payout Paid: Amount paid to you as payout out of the total amount earned.

d) Campaign status: .Your campaign  can be any of the following stage: Ordered, Production, Started, Printing, Dispatched, In Transit, Delivered.

e) Campaign Report: Your ‘’Campaign Report’’ will be an excel sheet and will contain multiple parameters which can help you understand the demographics, purchase behavior of your buyers better. This will also bring in transparency.

It also has payout date – which represents when the payout for that particular order has been processed by us. You can estimate the payout amount you would be getting which will help you plan your marketing budget for future campaigns.

How to use the Campaigner Report:

This ‘’Campaigner Report’’ will be providing you with lot of other important data that will help you improve your targeting and shoot up your sales.

– Information about Product, Color, Size, and Quantity will help you analyze which product is in demand and what you should feature in your Ad banner while promoting the campaign.

-Purchase Date will help you analyze the days when the purchase activity is high and hence start you Ad campaigns accordingly.

-The State and City will help you figure out your location targeting.

PAYOUT CYCLE:

With this update we are moving into an order level payout system. Your payout will be rolled out on the same day of every week.

Say, if you received your first payout under this system on a Monday, you would be receiving your payouts on Mondays of every week. A particular payout will contain the profits you earned from the products that got delivered since the last payout till that particular payout. You can get the payout of a product 8 days after the delivery of the product.

This feature is currently in its beta version and hence you may contact us in case of any issues. For further clarification regarding any feature feel free to contact me at swati@mydreamstore.in .