Mobile wallet company, MobiKwik, has awarded its media duties to Xposure. The brand has also announced that it plans to spend Rs 100 crore this year on its 360-degree multi-media brand campaign. The campaign will include exposure across television, out of home, radio and digital mediums, with the first leg kicking off in May 2015.
With the advertising campaign, the company aims to further catalyze the booming market for wallet services that currently stands at around 35 million users, and gain a larger share of the pie.
“We are delighted and excited to be partnering a visionary brand such as Mobikwik. We are confident that in the coming future, MobiKwik is going to be a dominant and defining player in the e- commerce and financial services which is expected to grow by around 20 per cent CAGR (according to the BCG and IAMAI report) in the next 5 years,” said Rajul Kulshreshtha, co-founder, Xposure.
Saurabh Srivastava, CMO, MobiKwik said, “Access to digital payments and the quality of payment experience are the two big consumer problems that we at MobiKwik are addressing through our mobile wallet. The age of standing in queues is over. With the massive penetration of mobile internet and smartphones in the country, we aim to make MobiKwik wallet a ubiquitous way to transact on the go, cutting across geographies and consumer cross sections.”
“With our brand campaign, we aim to make MobiKwik a household name across the country and ensure many more consumer interactions with the brand. The campaign also aims to fuel the adoption of mobile wallet as the preferred mode of payment amongst a host of new customers who are as yet unaware of its benefits. With this campaign, we are confident of increasing our user base from 17 Million to 30 Million in the next 3 months and achieve a user base of 100 Million users by the end of the year”, Srivastava added.
Havas will be leading the OOH campaign for the brand. The company has put up almost 1000 OOH and ambient media units across the top 6 cities in India, which include Delhi, Mumbai, Bangalore, Pune, Hyderabad, Chennai and Kolkata. The first campaign will run for duration of 3 months, followed by another campaign that will be launched during the festive season. For the first campaign, the brand’s TV campaign will follow close on the heels of its radio and OOH campaigns.
MobiKwik has recently raised close to $25 million in a Series B round from Tree Line Asia, Cisco Investments, American Express and existing investor, Sequoia Capital. The company plans to raise another $100 million in the latter half of 2015.