Swiggy, a foodtech major, has unveiled its latest marketing tool named ‘Smart Links.’ The new tool allows restaurants to seamlessly guide customers from their social media posts and advertisements straight to their menu pages on the food delivery app.
“Smart Links are personalised links that restaurants can distribute via their social media channels, guiding customers directly to their menu page on Swiggy. This ensures that when you come across enticing content on platforms like Instagram, you can effortlessly place an order from the featured restaurant without the hassle of searching for it on your food delivery app,” the company explained in a statement.
The foodtech giant stated that the new offering enables restaurants to harness their social media following and efficiently convert their online presence into sales. It further emphasized that the new tool assists restaurants in expanding their online presence, boosting order volumes, and ultimately enhancing revenue streams.
The IPO-bound company also stated that Smart Links provides restaurants with insights into customer behavior. Furthermore, they highlighted that the new product tracks user journeys post clicking on an advertisement.
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“Through facilitating this tracking, Smart Links assist restaurant partners in evaluating the effectiveness of their social media campaigns more efficiently,” Swiggy explained. “This data empowers them to refine future campaigns, ultimately resulting in more streamlined and prosperous marketing strategies.”
According to the company, the Smart Links pilot has generated over 4 million menu sessions for over 35,000 restaurant partners to date.
“Smart Links will change the game by enabling restaurants to readily access and configure these links—a feature that Swiggy is personalising for free for all of its restaurant partners. This enables them to track each channel’s performance and compare it all in the owner app, which helps them market themselves more successfully, generate real orders, and learn more about their clients’ behaviour on social media and online platforms, according to Deepak Maloo, assistant vice president for supply at Swiggy.
This new offering comes as the foodtech company readies itself for its much-anticipated $1 billion public listing on the stock exchanges later this year. Just days ago, Swiggy became a public limited company, stating that the transition would facilitate fundraising from the public, including through an IPO.
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Ahead of its market debut, the company has been optimizing and consolidating its operations. Last week, the foodtech leader merged Swiggy Mall with its quick commerce platform Instamart. Additionally, in March, Swiggy combined its premium grocery vertical, InsanelyGood, with Instamart.
As Swiggy’s plans for a public offering gain momentum, the US-based fund manager Invesco raised the company’s valuation by 19% to $12.7 billion earlier this month.
In the first three quarters of the financial year 2023-24 (FY24), Swiggy recorded a loss of $207 million (INR 1,720 crore). Its net loss for the entire FY23 amounted to INR 4,179 crore.
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