Presentation on Paytm's success story, how a small application become a brand just in a few years, how social media played a major role in its success.
2. WHAT IS ?
Paytm is a digital payment platform that
allows you to transfer cash into the
integrated wallet via online banking,
debit cards, and credit cards, or even
by depositing cash via select banks and
partners. Using the money in the Paytm
wallet, you can pay for a number of
goods without using cash.
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3. More about
Paytm stands for “Pay through Mobile”
It is founded by Vijay Shekhar Sharma in
2010 under the company name
communication.
Initially it was focused on mobile and
DTH recharging.
It is headquartered in Noida and in 2014
it entered e-commerce market, providing
products and facilities similar to Flipkart
and Amazon.
In 2015, it entered into bus booking.
One97 now is Paytm’s parent company.
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5. BEFORE DEMONETIZATION
PAYTM was founded and incubated by
Communications Limited in 2010 as a prepaid mobile recharge
website.
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6. FACITIES PROVIDED BY PAYTM :-
Recharge for mobile phones,
Metro cards,
DTH cable, data cards, etc, as well as postpaid payments for mobile
phones,
Landline/ broadband, electricity, water and gas bills, etc.
Book tickets for buses, trains, flights, movies, hotel rooms, etc. and
Pay for Uber cab rides using the platform.
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7. What was the major reason of non awareness of
facilities provided by Paytm before demonetization
LACK OF COMMUNICATION
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8. Media used before demonetization
for communication
Advertisement on
• Televisions
• Internet
• Radio
• Newspaper
VERY LESS MEDIA TO
COMMUNICATE
WITH CUSTOMERS
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9. USERS OF PAYTM
VERY LESS
MOST OF THE PEOPLE WERE UNAWARE ABOUT
PAYTM.
KNOWN USERS FEELS INSECURE FOR MAKING
DIGITAL PAYMENT AND FEEL MORE SECURE IN
CASH TRANSACTIONS.
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10. Some facts and figures
LESS MEDIA = LESS COMMUNICATION WITH CUSTOMERS = LESS
MARKETING = NOT A KNOWN ORGANISTION AMONG ALL
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11. Visit to china
During a visit to China, when he
saw vegetable vendors using their
mobile phones to receive
payments from some customers.
This led to him establishing Paytm
wallet in 2013, which became
India's largest mobile
payment service platform with
over 150 million wallets
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14. INITIATORS
ARE
LEADERS
“We saw a huge spike in new users after the decision was announced,” Sharma
had told Quartz after midnight on November 8, just a few hours following Modi’s
announcement. “I believe that our dream run is going to start now.”
Between November 10 and December 20, Paytm added over 20 million new
users, taking its total user base to 170 million. Within two weeks of the
demonetisation announcement, the company, which is backed by China’s Alibaba
Group, was racking up over seven million transactions per day – more than the
combined average daily usage of India’s 24.5 million credit cards and 661.8 million
debit cards.
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16. On November 8, Vijay Shekhar
Sharma found himself intensely in
demand.
The founder and CEO of Paytm,
India’s largest mobile payments
start-up, was attending an industry
event in Mumbai when prime
minister Narendra Modi announced
the move to demonetise Rs 500 and
Rs 1,000 notes. As soon as Sharma’s
session was over, his phone began
ringing non-stop: almost every
newsroom in the country wanted to
know what the 38-year-old
entrepreneur thought of the
decision, which would suck out 86%
of India’s cash in circulation.
POST DEMONATIZATION
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17. Media used after demonetization
for communication
Therefore Paytm adopted more different
media to communicate with customers.
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22. ADVERTISING DRAMA
Less than a week after the government announced its demonetisation
plan, Paytm released a television advertisement with the tagline
“Drama band karo… Paytm karo” (Stop being melodramatic, use
Paytm). went live on November 13 But that message seemed to
trivialise the struggles of millions of Indians stuck in lines outside
banks and ATMs, waiting long hours to access their own money. The
ad sparked loud protests on social media, forcing Paytm to drop the
tagline in a new, edited version released a day later.
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23. The morning
after Modi announced
the demonetisation
drive, Paytm put out
front-page ads in
several newspapers
congratulating the
prime minister for
“taking the boldest
decision in the
financial history of
independent India.”
POLITICAL
CROSSFIRE
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24. On December 16, Delhi chief minister Arvind Kejriwal accused
the company of being affiliated to the Modi government, citing
the appearance of the prime minister’s photos in its ads.
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25. POLITICAL CROSSFIRE & ADVERTISING
DRAMA
PAYTM
CENTER OF ATTRACTION
RESULT
MORE PEOPLE GOT TO KNOW ABOUT PAYTM
USERS INCREASED
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28. FACILITIES
Recharge for mobile phones,
Metro cards,
DTH cable, data cards, etc., as well as postpaid payments for mobile
phones,
Landline/ broadband, electricity, water and gas bills, etc.
Book tickets for buses, trains, flights, movies, hotel rooms, etc. and
Pay for Uber cab rides using the platform.
PAYTM BANK
MORE CASHBACKS
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29. COMPARISION
Let us now compare the top three payment startups to know
why other startups failed to do as good as Paytm.
• Though Freecharge tried to turn the odds in its favour by posting
videos like How to add money in Freecharge wallet (a 14 second
video) on November 17 and an engaging video Freecharge kiya
matlab cash diya on November 23, these videos came out after the
wedding was over.
• Snapdeal owned entity was too late in responding. So late that
PayTM was holding 120 crore worth of transactions by then. The
efforts put in by Freecharge in the form of 1,117 posts and videos
were lost in social media jungle.
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30. Now about our Power Player.
November 11: 3 tutorial videos about PayTM Wallet.
November 12: Bhaisahab ATM nahi, PayTM Karo.
November 14: Didi – Chinta mat karo, PayTM
Karo. Chhutte ki chinta mat karo, PayTM Karo.
November 15: Apni #गुल्लक ka cash save karo, PayTM
Karo.
November 18: Shadi ka Shagun cash nahi PayTM karo.
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31. USAGE OF SOCIAL MEDIA
• While the other startups were cleaning their guns, PayTM had pulled the
trigger.
• The study of this segment gives an important lesson for social media and
content marketers: while creating content is important, it has to be served
at the right time. Possibly before your competitor does if you don’t want
to lose out on engagement.
• What went well for PayTM was hitting the hammer when the iron was
red hot. The timing paid back Paytm with 21.9 million video engagements
and may be this was the major reason behind the 435% increase in traffic
and growth of mobile app downloads to 200%. 31
32. • Hit the hammer when the iron is red hot, any delay in the
right action at the right time may cost you a fortune and in
case of social media a delay of a millisecond may leave you
dozens of tweets/posts behind.
• Video content is the main driver for engagements, if you
know your audience well, if you know when and what to
strike, then there is no better option than the video
content. While YouTube is the major platform for video
content sharing, Facebook is also caching up with live
videos and new innovations.
• Discounts and offers may attract engagements, but if you
want to make it large, this strategy should not be your first
and foremost option.
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33. • Being most active doesn’t mean you will attract more
engagements. Be efficient with your strategy so that you may
give your best in limited number of posts and videos.
• Last and the most important one, social media has the power
to bring about change, turn your luck upside down and
making you a hit. So better master this field and turn the
power on your side.
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