Mobile payment/commerce solutions company Paymate India Pvt Ltd has awarded its creative mandate to Lowe following a multi-agency pitch that involved 5-8 agencies, of which three were shortlisted – Lowe, Dentsu, and McCann Erickson. Lowe has finally emerged the winner.
Elucidating the reasons for choosing Lowe, Akshay Sharma, AVP-Marketing, PR & Brand Development, Paymate, said, “It’s not everyday that agencies get a the chance to launch a new category and that too one as exciting as mobile payments. It was a tough call since all the agencies had put in their best resources into this pitch and had come up with some outstanding solutions. What really impressed us was Lowe’s approach towards the business, instead of defining the brand, they took a step back to understand the DNA of the category, which came closest to PayMate’s value proposition. They simply went beyond the brief at every stage and this clearly reflects their enthusiasm to partner with PayMate.”
The company has not yet decided on its advertising and marketing spends. The budget would be planned in a phased manner. Paymate would be spending between Rs 3 crore and Rs 4 crore in the first phase, which would include both media and non-media.
Sharma added, “Consumer adoption towards a completely new payment platform may not necessarily be achieved through conventional advertising vehicles, so marketing PayMate will involve implementing category building tools. Also, it’s not so much about how much money we spend as it is about how well we spend it. We have been very clear about the fact that we need to approach this innovatively both from a creative and media buying perspective. This will reflect in our communication strategy and marketing plans in the time to come.”
As reported by exchange4media earlier, the company is also looking for a media agency, which would decided upon only after the communication strategy is finalised. Sharma said, “We will look out for the ideal plan which offers a mix of conventional and innovative media solutions.”