From PayTM to Ola: Brands cash in after Rs 500, Rs 1000 notes banned
While the rest of us were panicking after Prime Minister Narendra Modi’s dramatic announcement that the current Rs 500 and Rs 1000 notes will cease to be legal tender from midnight, some quick-thinking brands sniffed out an opportunity in the mess.
In a stroke of timely marketing, they thought rather innovatively and promoted their cashless and online payment schemes.
It all started with PayTm’s immediate response to the breaking news. The witty tweet advertising the m-wallet brand started trending within seconds.
FreeCharge, which facilitates online payment of bills, calmed its customers by letting them know that they will always be there for them.
Zomato joined the bandwagon with quick and apt marketing promoting its services of filtering search by online payment.
For those worried about the daily grocery shopping, digital wallet MobiKwik was ‘quick’ to the rescue.
Cab aggregator Ola decided that there was no better time to promote their exclusive feature, Ola Money.
They also sent out push notifications to morning commuters.
Grofers, turned the situation into an opportunity for buyers to save some money, offering 15% cashback.
But in the panic that ensued last night, Big Bazaar was the first to make use of the opportunity.They decided to keep their stores open till 11:50 pm so people could stock up for their daily needs.
And the popular millennial cafe, Social, told its regulars that they will accept Rs. 500 and Rs. 1000 notes until midnight, much to joy of revellers.
But this one cracked us up the most. Music streaming app Saavn introduced a new playlist, “Paisa-Paisa’ on its trending section in response to the unfolding situation.