Paytm Case Study
Patty today is a market leader in both recharges and mobile wallets. However, the genesis of the story is interesting where in both cases they have come back from behind and have differentiated Intelligently and marketed innovative to reach where they are.
In case of recharges, they had several Incumbents Like Overcharge In the market. They concentrated In providing as many recharge options on the site and focused on collating many recharge and mobile service providers.
However they started looking at what a user really wants. When he comes to their site (or any other site), a customer is NOT looking for variety – he is looking for the easiest way to recharge – and all the options available for recharge. Most people also typically recharge same amounts over and over again. Our user experience focused on this simple aspect.
We made It dead simple for you to recharge your phone and remembered your last recharge amounts. On a marketing front, we realized most people searched for Avoidance recharge or Irate recharge.
We optimized our SEEM (Search Engine Marketing) to target such keyword searches rather than competitors (which was less than 5% of online recharges). That helped us get a less targeted SEE term as well as get much more relevant users. In the wallet space, our offering had a different genesis.
We realized a lot of users requested how to keep money so that they can do repeated recharges without entering bank / c details over and over again. A closed wallet license would have sufficed however, we wanted to extend It to others as well.
Therefore our offering which was driven by an internal need now powers a lot of transactions across others e. G. Bookishly, Cove etc.
Core Business: Mobile & HTH recharge, Bill Payments, Bus Tickets, Data card recharge, e-commerce racetrack, payment gateway, Patty deals & coupons. They do 400,000 orders per day, which Is the second highest number of Internet transactions In the country after ARCTIC. Their core strength Is the mobile. More than 50% of the orders are through their mobile app and mobile site, making them the largest mobile commerce platform.
The Problem: However, the e-commerce space in India is now getting crowded.
Building an e- commerce Startup is now easier than ever – many entrepreneurs enter e-commerce because it is an easy business model to grasp. However, that doesn’t mean that the equines Is easy to execute. With Intense competition In this space, It Is Important to clearly Transliterate oneself Trot toner players In teen market . Nine Deliverables: Competitors with huge funding are playing a last-man-standing game.
In such a scenario, how should a niche player such as Patty position itself as a brand based on consumer insight, differentiating it from the overabundance of e-commerce players? Expected Output: They expect a complete strategy in order to successfully plot the deliverable.
The study proposes a clearly and adequately touch on the following aspects: – What are he brand building activities can need to be done to make sure Patty has a higher brand recall and occupies more top-of-the-mind share. Methodology: Qualitative research on e-commerce groups.
Understanding the positioning of different e-commerce players in India. Understanding the e-shopping industry trends and potential. Quantitative research on different verticals (categories), their market sizing, comparison and expected growth, extrapolated to 2020. Study leading m-commerce companies, customer acquisition and retention strategies.
Study different international e-commerce and m-commerce players in markets similar to India, and analyses their product, marketing, diversification, and customer service strategies, drive consumer acquisition and retention.
Challenges: There are deep-rooted and established e-commerce players in the market. They have existing traction, branding as well as funding. Patty has to establish itself in this space with a highly efficient and cost effective manner. Patty also have a few cards to play, as the largest m-commerce player; how do we translate our success in other domains and how do we leverage our deep partnerships with mobile service providers, leading by design.