We all are well aware of the term ‘Demonetisation’. Have experienced its wrath. On 2016 with the announcement of demonetisation of 500 and 1000 rupee notes by Indian Government it got tough for the masses to cope up eith daily money problems. Banks and ATM’s too were exhausted leaving people clueless to deal with money problems.
Paytm was launched into market long back but its digital wallet came to much use during the demonetisation period. It was not that there was no other app that solved the purpose but Paytm with its huge ad campaigns attracted more audiences.
Between the period of November 10 and December 20 PayTm added almost 20 million new users. They had over
seven million transactions each day which was more than combined daily usageof debit and creditcards.
This definitely was not possible in a jiffy with other competitors in market but this was the result of a great marketing strategy applied by Paytm team.
The Digital Marketing
The Perfect Strategy Of Marketing
Marketing is not a rocket science. Partnership with perfect brands, campaigns and advertisements can work wonders. As it is said strike the Iron when its hot, PayTm followed the simple rule books of marketing to grab attention and gain users.
Smart Enough
PayTm Karo is now viral and now everyone is upto saying let me PayTm you! It became active in social media and also partnered with Uber and NDTV for their campaigning. Creating awareness camp and going facebook live to make people aware of their digital wallet helped them a lot in business.
Paytm Credit Cards
Let’s have a look at there various campaigns and strategies that made them the best in market during demonetisation:
Marketing Ideas To Retain Existing Customers
1. Safety Flowchart
No matter how much modern people have grown day by day but transferring and paying money online creates a bit of confusing thoughts among users that would it be safe or not. But Paytm made a flowchart depicting how using their digital wallet is as safe as compared to credit and debit cards. As digital wallet is not connected to bank account so its amount is limited and also if any case of hacking occurs or fraud ones bank account remains untouched!
Infographics
2. Bank Account Protection
Just before you click on purchase option in any e-commerce site pops up a spartan warrior with his shield giving the message that PayTm guards users bank accounts.
3. Facebook Live
It’s very important to make people believe and understand of how their account is protected and free of hacking with Paytm digital Wallet. what could have been a better way rather than using Facebook Live!
4. Soldier Mobile Game
Perfect campaign for tech-savvy people and game lovers. Users could download a soldier game from Paytm app. The game is about Spartan PayTm soldiers fighting against an army of frauds. Basically to make people aware of how Paytm protects ones account!
5. Automatic Start Of The Month SMS
Withh the start of the month Paytm started sending reminder payment messages to users andsayingit can be done stress freely by using Paytm digital wallet.
Guiding All Way
6. Workshops
Parenting camp were introduced where the trainers spoke how teenagers nowadays tend to bad habits due to use of free pocket money. This can be used by limiting their account and payments by using Paytm.
7. Mumbai Dabbawallas
They tied up with Mumbai dabbawallas, rather with the lunch services to accept Paytm cash only for more usage of app.
8. MBA Contest
A free video contest for MBA first year students were conducted. A team of four were asked to create a video about how Paytm can be used and the video that would get maximum likes would win. This became viral and gave more user retention to Paytm.
Gaining New Users Marketing Strategies
1. Pocket Dance
This was the best of the ad campaigns. It was known as Pocket dance. The miseries of taking out wallet a to pay and checking for money on various pockets of a user. It can be made easy by just pulling out ones mobile and Paytm-ing the amount. It ended with the message- Why do the pocket dance every time looking for money? Paytm karo!
2. Celebrity Endorsements
Famous dancing stars like Shiamak Davar and Remo D’Souza were seen doin pocket dance in television. In internet cartoons and GIF’s were made on famous people doing pocket dance that went viral.
Remo And Shamak
3. Interactive Fun App
Do you like Talking Tom or Chip Munks? They made something similar, an app where famous people in their animated avatarwould teach you the pocketdance. The instructions came like – Right bottom pocket, Left bottom pocket and Back pocket. One can adjust the speed and choose songs too.
Talking Tom
4. Gabbar Singh viral video
Humour was added aby using dialogues of famous character Gabbar that went viral. The video opened up by Gabbar asking his dacoits to go and loot the village people. he dacoits return empty handed. When Gabbar enquired ‘Khali Hatth kyu Aya Hai? the dacoits replied,’ Kisike paas paisa nhi hai, sab Paytm kar rahe!’
These marketing strategies has been great by Paytm to attract audience and they have been successful. Let us watch out on how they further build up a strong network in marketing.
