CUSTOMER CENTRICITY and PROFILE AT PAYTM

Customer centric organizations reorient their entire operating model around customers which leads
to increase in customer satisfaction. This has a positive knock-on effect on the company’s
profitability.

Paytm started of as a platform for making payments online. Paytm is actually short for Pay Through
Mobile. Paytm was built around the idea of providing convenience to the customers while making
payment. The first opportunity that they saw was the booming market for smartphones. The growth
was going to be exponential and Paytm combined the smartphone growth and convenience in
payment to get the idea of making payments through smartphones. Now for this Paytm identified
one gap of mobile recharges. Earlier people had to recharge their mobiles at a physical telecom
operator store or at a local shop. It was cumbersome and time consuming. Paytm’s parent company
was already an established partner with telecom providers and hence came up with a product where
consumers could pay or recharge their mobile bills online. This was a brilliant move by Paytm as they
understood the customer need of ease of bill payment/recharge. This product was simple in design
and hence helped Paytm penetrate the customer market.

Having built up an existing user base through mobile recharge, Paytm started offering other recharge
services such as DTH and other bill payments. Now for expansion they identified another gap. While
having to make payments, customers had to always enter their card details and pin number. This
was another pain point for the customers. Hence Paytm came up with the idea to create a wallet
system. Customers could preload their wallets with money and use that to make multiple payments
without any hassles. The Paytm wallet has turned out to be a customer favourite, with its use in P2P
money transfer its most useful aspect. Merchant payments became easier and Paytm truly became a
customer centric organization as it made convenience a major part of their product ideation
strategy. Paytm made it a point to understand the customer journey and fix the pain points along
the way through product innovation.

The next step in Paytm’s customer centric approach made them look to the other side of their
product spectrum, the merchants. Paytm saw that to accept payments merchants had to buy
expensive POS machines in partnerships with bank which required continuous internet connection.
This was a big hassle for small merchants who could not afford it. Hence Paytm presented a solution
which involved the use of QR code scanning. Paytm users already were making their online
payments through Paytm could now use Paytm and their smartphone in the offline mode. This made
payment acceptance easier for merchants and again made it convenient for customers.

Paytm brilliantly identified potential target markets and offered simplified products on just a single
app. They were able to expand and grow by cross selling different things to consumers according to
their needs, helping them improve their customer base and profitably simultaneously. This approach
of designing products according to the customer needs and not the other way round, is the
cornerstone of the customer centric business approach.

Omnichannel commerce has been talked about for years, but only now consumers are fully
embracing it, although most businesses still lag in offering a consumer-centric, omnichannel
engagement approach. Omnichannel presents customer-centric purchasing opportunities by
unifying sales and marketing across different channels to present a singular customer experience.
The use of a mobile app is being used by Paytm to locate top products a customer may want and
provide the best prices across the internet.

Organizations need to have a complete view of all all the touchpoints, including:

 Customer data (demographics, purchase history, device preference)

Growth AI Unifies Customer View

Paytm has started using Growth AI to enable them to get a single view of their users journey across
different touchpoints. This fully configurable, end-to-end platform allows Paytm to engage
meaningfully and communicate with customers across various touchpoints. Paytm’s customer
engagement solution seamlessly integrates with existing systems, offering a user-friendly interface
that empowers them to easily create, deploy, monitor and optimize marketing campaigns.

PRESENT MARKET STRATEGY AND STP

 Paytm launched ‘Each one, teach one’ to increase cashless payments literacy in 2016 ,the
company announced Rs. 2100 in scholarship for 10,000 users who would help increase
digital inclusion and adoption of Paytm.
 Paytm had also announced an incentive including Rs. one crore grand prize along with
additional prizes like motorcycles, smartphones, laptops and other exciting gifts. All users
transacting between 1st December 2016 and 31st March 2017 were eligible to win these
prizes.
 A scheme was launched in Bengali, Marathi, Gujarati, Tamil, Telugu, Kannada, and
Malayalam that was “Scan any QR to pay using Paytm”.
 Paytm developed products along with some major businesses using the model of Co-
branding.
 Paytm extensively used the print media, digital media and radio services for their marketing
purposes.
 Paytm offered numerous cashback and discounts for products while also offering reward
points to entice customers.
 For increasing brand awareness Paytm sponsored a host of tournaments and events.
 Paytm is the official series naming partner for the Indian cricket team which means their
name is branded with every series, giving them huge exposure.
  The company got 120 seconds of airtime for each match played on the tournament, and the
brand popularity increase during the World Cup resulted in the launch of new TV
advertisements during the IPL season.

Here is a list of the successful campaigns and partnerships with leading brand run by Paytm:

 Paytm Karo

This is one of the key Marketing campaign that rapidly gained populism. #PaytmKaro was added to
almost every conversation that was made across social media platforms. The ad showcases life
situations which are made easy by Paytm services. The catchy tune in the advertisement makes a
long lasting impact in the minds of the consumers.

 Facebook Live

Paytm conducted a series of live Facebook training series, “Paytm Merchant Connect- Training
Series” to increase customer awareness about their account security and hacking.

 Dabbawallas in Mumbai

Strategic ties between the famous Dabbawallas and businesses in Mumbai. Specific discounts for
paying through the Paytm app.

 MBA contest

A inter-college competition for MBA students across India to make a video about innovative Paytm
use.

People with smartphones switching to cashless payment

Urban/Rural tier1, tier2 cities- people with smartphones

Paytm can be used as an alternate for cash to make