Blog_Competitive_Demonetization-01

 

It’s been around three months since demonetisation was introduced by the Indian government. How did this decision impact the Indian businesses and how did they cope? How their communication strategy adapted to the situation? These are some of the issues we will be discussing in this article. We have taken two popular industries; the online wallet/payment and online cab aggregator, and compared their performance using  .

The aftermath of demonetisation witnessed online platforms becoming the go-to destinations for everyday transactions. However, the mass exodus of Indian customers from brick and mortar stores to online payment platforms wasn’t easy. It involved the incorporation of extensive email marketing strategies in their subject lines so as to target the right customer base, drive their click through rate and result in actual transactional actions.

Various keywords were exclusively used by these brands. Following is the comparative analysis based on Paytm vs Freecharge and Ola vs Uber’s campaign data recorded from 8th November to 8th December-2016.

Comparison: Paytm vs Freecharge

  • The over-all sent out email volume went up for Freecharge compared to previous month data (pertaining to ‘Diwali’ mailers). Whereas, for Paytm, the Diwali mailers were more in volume than Demonetization specific mailers.
  • Paytm deployed 17 campaigns for Diwali and 50 campaigns post-Demonetization. Freecharge sent a total of 11 mailers specific to Diwali and 21 mailers after demonetization.
  • In case of Paytm, the read rate for Diwali mailers was around 6.71% and for Demonization mailers 16.54%
  • In case of Freecharge, the read rate remained almost consistent with 11.58% for Diwali campaigns and 11.48% for Demonetization.
  • 50 campaigns were launched by Paytm as compared to 21 campaigns by Freecharge targeting post-demonetization effect.
  • Campaigns carried out by Paytm used keywords such as ‘Wallet’, ‘Cash free’ and ‘Cashless’
  • Paytm’s overall targeted customer base was lesser than Freecharge. The number of customers targeted by Paytm was nearly half of Freecharge
  • Even though read rate of Paytm is better than that of Freecharge, the number of customers that Paytm has been able to target is almost half of that of Freecharge
  • Paytm email subject lines majorly emphasized on the usage of the word ‘Paytm Wallet’ in all its campaigns, whereas, Freecharge focused more on the keyword ‘Cash free’

               

Comparison: Uber vs Ola

  • Ola mainly emphasized on the word ‘Cashless travelling’ in many of its campaigns whereas Uber used the words ‘Skip’ and ‘ATM queue’ in their campaigns
  • Ola emails also extensively used other keywords such as ‘Cashless’, ‘travelling’ and ‘cashback’
  • Uber used words such as ‘Cash’, ‘cashless’, ‘Cashfree’ and ‘free’ in their email campaigns
  • Ola sent 36 campaigns during demonetization as compared to 12 campaigns sent by Uber
  • The overall sent volume of Ola emails was much higher than of that of Uber by around 18%.
  • In terms of numbers of subscribers opening the emails, Ola performed better as compared to Uber. This can be attributed to two reasons: Ola has a larger subscriber base and a slightly better read rate

Most Popular Subject Lines Used:

Brands Sendout Date Subject Line Read %
Ola 24-11-2016 Say Ola to cashless travelling 24.62%
Uber 19-11-2016 Skip the ATM queue 22.58%
Paytm 21-11-2016 It’s So Easy to Pay With Your Paytm Wallet 61.54%
Freecharge 18-11-2016 {{First Name}}, Open this mail before you Freecharge! #Cashfree 20.44%

Some previously unimaginable transactions have become common place today. Email marketing was deployed as the weapon of choice to encourage more Indians to embrace online transactions. As a result, more people began transacting online to complete their everyday grocery purchases even at the local Kirana stores, online booking of cabs/movies, hotels and restaurants.

If you would like to have a glimpse of your brand’s competition in terms of brand comparison, email deliverability and campaign performance, you can request for a preliminary report by clicking here.

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