MobiKwik is a renowned mobile wallet/online payment platform where a user can store money to make mobile and DTH recharge, pay utility bills and shop using the wallet with over 50,000+ merchants. Founded by Bipin Preet Singh and Upasana Taku in 2009, MobiKwik has over the years marketed itself as a leading brand in its service genre boasting of 18 million users on the platform as of now.
In an exclusive conversation with EE,
Mr Saurabh Srivastava, CMO, MobiKwik India shares the marketing strategy of the brand, its future plan of action and so much more.
“With more and more users shifting towards going cashless and using online platforms to shop or for entertainment purposes, the founders of MobiKwik easily realized that not all users were comfortable with using credit, debit cards or net banking processes online and hence the they wanted to come up with a solution to provide an easy payment options for consumers. Thus MobiKwik was born to provide a wide array of services to the customers. Today whether you are shopping online or at outlets like Big Bazaar you can go towards the checkout counter and pay through your MobiKwik wallet without the hassle of card payments or having to carry excess cash”-says Saurabh Srivastava as he explains the functioning of MobiKwik.
So how does the brand market itself especially when it has the marketing budget of a humongous 100 crore for this financial year? To this he responds by saying, “It is basically the hassle free experience that we are providing to customers and hence I feel our biggest marketing asset is the positive word of mouth. However, we do realize that the process of it slower and for this reason we are strongly present across all ATL mediums and we also carry out mall activations and other BTL engagements from time to time.”
The BTL engagements include direct one-on-one interaction and consultation at malls at paying counters about the feature of the wallet and rebranding the counters at megastores. We have also partnered with CCD and Big Bazaar who offer the options to the customers to pay through their MobiKwik wallets. Also since youth is the primary target group for us hence we are in the process of associating with VH1 for all their events and properties ahead.”
When asked upon where you see MobiKwik 5 years down the line? Saurabh Srivastava laughs and says, “Even though it’s a crystal ball prediction but I think in five years we would aim to establish ourselves at a position where the entire population of the country will use our services for easy pay options during their purchase.”
