Episode 4: Rewriting the Marketing Playbook for 2020 & Beyond | Abhishek Patil

Episode 4: Rewriting the Marketing Playbook for 2020 & Beyond | Abhishek Patil

About This Episode

Abhishek Patil is in the Product and Growth team at CRED – a members-only credit card bill payment platform. He has had a successful tenure across industries crafting growth strategies from scratch. Previously, Abhishek led user growth at Dunzo by laying a concrete foundation and shaping the marketing strategies. He is a prodigy of acquisition, retention, and re-engagement.

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Full Audio Podcast:

In this episode:

Here are a few excerpts from our conversation with Abhishek.

Priyam: How has COVID impacted the FinTech industry?

Abhishek: Consumer spending has gone down by 60%. And since, everything in the FinTech industry is dictated by consumer spending, it has taken a hard hit.

→ FinTech is dependent mainly on two things: Online purchasing, and offline non-essential activities. Both of these have seen tremendous downfall.

→ However, donations as a category has skyrocketed.

Priyam: Is there any extended long term impact you foresee?

Abhishek: The norm of running the business initially on the VC money shall be a thing of the past. The business will be extra cautious about being a cash positive entity.

Priyam: How has your marketing strategies restructured to combat the change?

Abhishek: We are more cautious about spending every dollar in our marketing activities. We are asking more ‘WHY’ questions.

Strategies to adopt:

→ Work on content
→ Work on inbound
→ Optimize funnels

Priyam: What are the main priorities when it comes to marketing and engagement strategies?

Abhishek: First, we need to focus on retention with the least amount of dollars spent.

→ Second, we need to focus on profitable acquisition and avoid those clients where the extraction of money is a challenge.

→ Third, we need to implement deeper engagement strategies with all possible avenues in our product and marketing strategies.

Key pointers to consider for deeper engagement:

→ Engagement should highlight your company’s core functionality. A cumulation of a handful of major functionalities will drive better results. It will turn out to be an essential feature for others than just a product they look up to.

Check out the full episode to explore all the essential insights about marketing strategies in the FinTech space.

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Speaker

Abhishek Patil Product and Growth, CRED

Abhishek Patil is in the Product and Growth team at CRED - a members-only credit card bill payment platform. He was earlier heading User Growth at Dunzo - a hyperlocal delivery startup backed by Google India. He is also an ex-Sokratian where he handled the eCommerce team (SOFIE) responsible for scaling the business. Abhishek believes that growth can't be a hack and rather is a continuous experimentation process.

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Host

Priyam Jha Lead - Brand Marketing, WebEngage

Priyam looks after Brand Marketing at WebEngage, learning the ropes of building iconic brands in the B2B space. He is striving to develop EngageCast into the leading podcast for user retention & engagement with cutting-edge, top-quality content. When he isn't busy looking after brand marketing & PR initiatives, he likes to dabble in a bit of photography, listen to rock music, and indulge in PC gaming.