The project assesses the brand equity built by Paytm, a mobile wallet service by analyzing the various aspects of brand equity like brand identity, brand awareness (and impact of recent demonetization in India) and brand association.
3. The “About” Page
• One97 Communications
• Owner of Paytm
• Headquartered in New Delhi
• Backed by marquee investors like Alibaba and Mediatek
• Paytm
• Stands for Pay Thru Mobile
• Launched in 2010
• Founder- Vijay Shekhar Sharma
• Headquartered in Noida
• Started with simple recharge, went on to provide mobile wallet
8. Differentiating Paytm- What makes it stand
out?
• Span across length of online payment services with larger number of
parties onboard
• Deeper penetration to lower rungs of business-
• From chaiwala to fruit vendors to toll plazas are going for #PaytmKaro
• These differentiating points help build the brand as number 1 mobile
wallet in coming days
• Ease of transferring money from wallet to bank
9. Creating brand identity
• Vision of company-
“Provide meaningful access for mobile eco-system”
• Paytm’s mission-
“To be the most trusted mobile commerce brand in the country”
• In sync with Digital India and Make in India campaigns
• Company is investing heavily in advertisements
• The recent demonetization has served as cherry-on-top
• Even those who were apprehensive of technology and money are using it
• Although the usage increased out of people’s helplessness, people are now liking it
• Consistently committed to improve the services- both on e- and m-
platform
• Getting more users onboard
10. Awareness: Pre-demonetization
• Dedicated representatives
• Individuals going and meeting merchants to get them onboard
• Targeted marketing
• Incentivizing the usage
• Sharing success stories (merchants) and usage stories that strike the
emotional cord
• Video ads on online platforms that demonstrate the wallet’s
versatility and have the emotional appeal
• The New Paytm Ad - [Kirana store, Fuel & Electricity Bill]
11. Awareness: Post-demonetization
• Vijay Shekhar Sharma coming out in full support (Obviously!)
• Advertisements targeting specifically some of the demons of
demonetization (like long queues, issue of change etc)
• War of words creating hype on social media (The most memorable
one being Arvind Kejriwal vs Vijay Shekhar Sharma on Twitter)
• Increase in cashbacks and promos
• Chhutte ki chinta mat karo, Paytm Karo
12. Post Demonetisation–
Reach In India
Who’s new?
Grocery vendors,
Roadside retail
Flipkart, Amazon –
unsuccessful
deterrence
IRCTC, State Bus
Transport payment
terminals
15. Recommendations
• Like the NHAI deal, get more government and public sector deals in
future to increase the trust and confidence, as well as the versatility
of the wallet
• Don’t just tell the stories of the successes from third party users, but
also from their own employees (Paytm usage) and their success
stories
• Like being able to recharge the Paytm wallet and making payments to
merchants, a reverse process should be included to strengthen their
support for moving one step closer to digital India and a cashless
economy