As e-commerce companies and apps are trying hard to habituate the users to spend on their platform, PayTunes is reversing the trend by incentivizing the user by giving them lucky draw participation ticket and free recharges.
PayTunes is a new age audio-visual mobile ad platform where advertisers can selectively target their audience with their audio and visual ads. Its a unique platform which runs audio ads of brands as ringtones on phones of its app users, and in return pay them with free reward points which users can later use to take part in daily contests and win exciting prizes worth thousands of rupees like free recharges, pen drives, mobile phones and bikes etc.
Speaking of its appeal, its CEO and Co-Founder DivyaPratap Singh Says “Its a mass product having a great appeal in low-mid income category smartphone users. A user can get prizes from Rs 100 recharge to mobile phones, motorcycles from the app just by allowing it to change their ringtones. Why won’t anyone have it?”
With this innovative ad delivery technique, the app aims to target the phone user as well as people in the close vicinity of the user when he/she receives a call. This essentially makes a case for a distributed ad-delivery network of users broadcasting audio ads even in areas and times where users aren’t engaged in any other communication medium.
“Imagine our users travelling in Bus, Metro or their office elevator and broadcasting the ads to the people near them even if the intended recipients aren’t using their phones or any other device. This is the power of this medium” says the Chief Sales Officer, Mr. Amit N Naredi, who recently quit his job as Regional Sales Manager (Mumbai) from My FM to join PayTunes as a Co-Founder. “The app gives multiple customized features to the advertisers such as selecting the Geography, Demographics such as age and gender of users and time of day for delivery of their ad-campaigns. This minimizes the wastage in rolling out of campaigns by a pin-pointed delivery of ads to the targeted user at relevant time which otherwise is an issue in traditional advertising with FM, Print and TV” adds Amit.
Indian ad-industry is a Rs. 50,000 Crore industry with TV managing the highest share followed by Print, Digital and FM. Digital is increasing at a rate 30% per year, and Mobile advertising spend is 60% of the digital. PayTunes places itself between FM and Digital pertaining to the audio visual ad features and its digital deployment and analytics features.
The Company has successfully delivered campaigns for Nissan Motors, Hit 95 FM, Saavan.com, Funtasia Island and others so far while many more are in pipeline. According to Divya, ‘Response has been great. PayTunes is first of its kind audio-visual mobile ad platform where advertisers can interact with users post the ad delivery. Conventional mediums are loosing their sheen, everyone is targetting mobile as this is where transactions are happening. Mobile ad industry is dominated by banner ads which are in-effective. PayTunes brings the power of conventional medium with its audio-visual approach but in its very digital way.’
Smartphone users in India are increasing in a rapid pace. Recently India became the 2nd biggest market for smartphone users worldwide and should reach 400 million mark by the end of 2017. Sanjay Mehta, an Initial investors in PayTunes says “Mobile device will take the centre place in majority of commerce activities in upcoming years. An avg user is spending almost 3 hours a day on mobile; brands need to look for ways to reach this user who is spending lesser time on TV and Radio going forward which will become a challenge for non-digital brands like FMCGs”
PayTunes is running a staggering number of 3.5 million ad impressions daily with a daily reach of more than 2 million consumers.Launched in October last year, the app has managed to be on more than 4 Lacs users’ phones till now. “We’ve managed a strong user growth and a very high retention rate of above 60% which is much higher than the industry average. This proves the acceptability for this product among users” says Rakesh, batchmate of Divya from IIT Delhi and CMO of PayTunes. The app has managed to be on the top of charts in its category on PlayStore clocking in 19th rank in recently. The app has also steadily maintained a PlayStore ranking of above 4.1 all this time, which demonstrates the trust users have in the platform. Majority of this app’s users are from Delhi, Mumbai, Rajasthan, Haryana, Gujarat, UP and Bihar.
The team has some ambitious plans like tying up with telecom companies for better redemption plans and extending the usage and its reach by teaming up with mobile manufacturers. The company has initiated discussions with some of the leading mobile manufacturers and telecom companies for this already.
“Such an audio visual ad-delivery platform on mobile which gives one click scale to the brand managers has never been tried before and we’re going strong in establishing this new medium. Digital is the way for advertising, and we have built a revolutionary product keeping this in mind.” saysDivya.