 "Brands play the Indicash card")
In a bid to position Indicash, its white labeled automated teller machines (ATMs) as more than cash dispensation centres, Tata Communications Payment Solutions (TCPL) is inviting companies to use its 6000-odd ATMs as outdoor advertising avenues, points of promotion and even storehouses. About 10 brands including Honda, Snapdeal, Zee Learn and Fino PayTech have already signed up for the service launched nearly six months ago.
TCPL has the largest network of ATM kiosks, in keeping with RBI guidelines, 65 per cent are located in tier 3 to tier 6 markets. An ATM, on an average costs close to Rs 3-5 lakh to set up and about Rs 50,000 a month to maintain. And for TCPL, like others in the business, branding its ATMs as do-it-all centres seems the best way to maxmise returns on real estate and to build a mutually beneficial ecosystem of clients and customers.
Sanjeev Patel, CEO, Tata Communications Payment Solutions says, 'In non-metro markets, it is very difficult to get advertising media. While yes, television and print is there, these will always be expensive. Also, if someone wants to target a particular region or state, then outdoor is a better medium since there will be less spillage.'
Hitting the target
Indicash has adopted a flexible model of engagement. Patel says some clients prefer to take ownership of the space for the contracted time; others use it partially and in varying degrees of time and space. Honda, for instance, used a centre located in the outskirts of Pune for setting up test drives for potential buyers. Some companies, Patel says, look at these as 'lead capture avenues (actual sales) and even customer service centres.' Some want it to promote a service or product among the target community.
Rushabh Shah, head SAT marketing and research, Zee Learn says, 'The primary focus for Kidzee was to target lower tier markets where media reach is slightly difficult. Hence it was imperative to find a medium that gives out our message clearly and gives us multiple exposures with our TG. Since on an average a person visits the ATM twice a month, the tie up gave us reach with the right audience at a very competitive cost.'
Fino PayTech, an alternative finance channel, has a tie-up with Snapdeal wherein it provides storage facilities for online orders (dark stores). It found the Indicash ATMs best suited for this purpose. Some online shopping portals are using the space inside the ATMs to help people execute a purchase, build trust and familiarise them with the online shopping experience. Brands find that the arrangement works out to their advantage since the cost of these services is lower than print or television. Of course, it is more expensive than say, putting up a billboard, but that may not be feasible in the interiors in any case.
Inform, engage and sell
The impact is huge says Zee Learn which plastered every Indicash ATM door in and around Pune with stickers about the brand. Shah says that his company saw a 107 per cent spike in lead generation among the locals. And as a bonus, people who used the ATM (outstation parents) also were exposed to the brand.
Fino Paytech is also happy with the experience. Shailesh Pandey, VP, products and strategy, Fino says, 'There is a logical synergy between our transaction flows. Customers withdraw cash from the ATMs following which they can avail the services offered at the Fino Money Marts. It is a symbiotic relationship helping enhance footprint and reach on a shared infrastructure model.' The Indicash advantage is that it offers a clean, safe and secure environment in rural and semi urban areas where such physical spaces are either absent or inaccessible. It helps brands build a relationship with customers in these areas.
While the initial response is positive, the biggest challenge continues to be convincing people to try out a new medium. It takes a few trials before brands are truly convinced of the potential. Also it is not enough to use one or two ATMs; if a brand has to benefit from the association, it must be deeper and spread over a larger area. Patel says, 'With our robust network, we do have an edge over the others.' Other white label ATM chains include Prism, BTL and Muthoot, but these are concentrated in specific regions, unlike Tata Indicash, they are not present across the country. Also they do not have the Tata brand advantage which is a huge plus as 'clients have faith in us enough to at least give it a shot,' says Patel.
TCPL has the largest network of ATM kiosks, in keeping with RBI guidelines, 65 per cent are located in tier 3 to tier 6 markets. An ATM, on an average costs close to Rs 3-5 lakh to set up and about Rs 50,000 a month to maintain. And for TCPL, like others in the business, branding its ATMs as do-it-all centres seems the best way to maxmise returns on real estate and to build a mutually beneficial ecosystem of clients and customers.
Sanjeev Patel, CEO, Tata Communications Payment Solutions says, 'In non-metro markets, it is very difficult to get advertising media. While yes, television and print is there, these will always be expensive. Also, if someone wants to target a particular region or state, then outdoor is a better medium since there will be less spillage.'
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Through its network of ATMs, Tata Indicash is hoping to provide a cost effective and low-spillage option to advertisers and a secure and comfortable environment for customer engagement. Currently, the advertising led business contributes to less than 10 per cent of the total revenue for TCPL, but Patel has ambitions of taking this up to 25 per cent in the coming years. The ATMs are also being offered as dark stores, where e-commerce companies store and dispense their online orders from.
Hitting the target
Indicash has adopted a flexible model of engagement. Patel says some clients prefer to take ownership of the space for the contracted time; others use it partially and in varying degrees of time and space. Honda, for instance, used a centre located in the outskirts of Pune for setting up test drives for potential buyers. Some companies, Patel says, look at these as 'lead capture avenues (actual sales) and even customer service centres.' Some want it to promote a service or product among the target community.
Rushabh Shah, head SAT marketing and research, Zee Learn says, 'The primary focus for Kidzee was to target lower tier markets where media reach is slightly difficult. Hence it was imperative to find a medium that gives out our message clearly and gives us multiple exposures with our TG. Since on an average a person visits the ATM twice a month, the tie up gave us reach with the right audience at a very competitive cost.'
Fino PayTech, an alternative finance channel, has a tie-up with Snapdeal wherein it provides storage facilities for online orders (dark stores). It found the Indicash ATMs best suited for this purpose. Some online shopping portals are using the space inside the ATMs to help people execute a purchase, build trust and familiarise them with the online shopping experience. Brands find that the arrangement works out to their advantage since the cost of these services is lower than print or television. Of course, it is more expensive than say, putting up a billboard, but that may not be feasible in the interiors in any case.
Inform, engage and sell
The impact is huge says Zee Learn which plastered every Indicash ATM door in and around Pune with stickers about the brand. Shah says that his company saw a 107 per cent spike in lead generation among the locals. And as a bonus, people who used the ATM (outstation parents) also were exposed to the brand.
Fino Paytech is also happy with the experience. Shailesh Pandey, VP, products and strategy, Fino says, 'There is a logical synergy between our transaction flows. Customers withdraw cash from the ATMs following which they can avail the services offered at the Fino Money Marts. It is a symbiotic relationship helping enhance footprint and reach on a shared infrastructure model.' The Indicash advantage is that it offers a clean, safe and secure environment in rural and semi urban areas where such physical spaces are either absent or inaccessible. It helps brands build a relationship with customers in these areas.
While the initial response is positive, the biggest challenge continues to be convincing people to try out a new medium. It takes a few trials before brands are truly convinced of the potential. Also it is not enough to use one or two ATMs; if a brand has to benefit from the association, it must be deeper and spread over a larger area. Patel says, 'With our robust network, we do have an edge over the others.' Other white label ATM chains include Prism, BTL and Muthoot, but these are concentrated in specific regions, unlike Tata Indicash, they are not present across the country. Also they do not have the Tata brand advantage which is a huge plus as 'clients have faith in us enough to at least give it a shot,' says Patel.