Paytm Indian Unicorn Startup: How Paytm’s Marketing Strategy Has Helped It Dominate The India’s Fintech Market
Paytm was founded in 2010 by Vijay Shekhar Sharma, with the aim of providing a mobile payment solution to consumers in India.
Paytm focused on providing mobile recharges and bill payments, which were a huge hit with customers. As more and more people started using the app, Paytm expanded its services to include movie ticket bookings
Paytm’s big break came in 2016 when the Indian government announced the demonetization of high-value currency notes.
Overnight, millions of people were left with worthless cash, and there was a huge surge in demand for digital payment solutions.
Paytm was perfectly positioned to take advantage of this opportunity and quickly became the go-to app for digital payments in India.
The company was able to create a user-friendly app that made it easy for people to make digital payments. The app was simple, intuitive, and allowed users to complete transactions in just a few clicks.
Paytm was able to build a large network of merchants and retailers who accepted Paytm payments. This made it easy for users to pay for goods and services using the app
Paytm was able to offer a range of additional services, such as cashback offers, discounts, and loyalty programs, which incentivized users to continue using the app.
The global growth of mobile phone users has increased the potential market for online marketing and cashless transactions. With its cashless transaction schemes
Paytm launched the ‘Each one, teach one’ campaign to promote cashless payments literacy – In 2016, the company announced a Rs. 2100 scholarship for 10,000 users who help to increase digital inclusion and Paytm adoption
Paytm had also announced an incentive that included a grand prize of Rs. one crore, as well as additional prizes such as motorcycles, smartphones, laptops, and other exciting gifts.
These prizes were awarded to all selected users who transacted between December 1, 2016 and March 31, 2017.
The ‘Scan any QR to pay using Paytm’ scheme of Paytm has been launched in 7 languages that are Bengali, Telugu, Marathi, Gujarati, Tamil, Kannada, and Malayalam.
The company’s offline communication networks included newspapers, public transportation, and television. Paytm promotions also made use of digital, print, and radio services.
The company’s offline communication networks included newspapers, public transportation, and television. Paytm promotions also made use of digital, print, and radio services.