We Focused On Digital & Social Media To Reach People: Sujatha V Kumar, Visa

Marketers today focus on multiple aspects of the business, driving growth not just for companies but also for the broader economy.

Wearing the marketer's hat, Sujata V Kumar, Head of Marketing for Visa India and South Asia talks about how marketers can drive brand growth while contributing to the broader economy. With over 25 years of experience in marketing across FMCG, financial services and technology, Kumar shares her insights on the changes in consumer spending behaviour, particularly in the realm of digital payments.

Shifting Consumer Behaviour
Kumar begins by highlighting the stark contrast in spending habits before and after the pandemic. “Before the pandemic, the ratio of cash to non-cash spending in India was an overwhelming 95 per cent to 5 per cent. Cash was perceived as fast, convenient, and easy. People used credit and debit cards only for larger purchases,” she notes.

In non-metro areas, the preference for cash was even more pronounced, with a ratio of 99 per cent to 1 per cent. Kumar emphasised the challenge faced by Visa in transitioning consumers to cashless transactions in a predominantly cash-based economy.

The onset of the pandemic in early 2020 triggered a rapid shift in consumer behaviour. “With the lockdown and restrictions on physical movement, people had no choice but to adapt to digital payments,” Kumar explains.

Understanding the scenario, Visa released the 'Cashless Confidence' campaign to help people, particularly older adults unfamiliar with digital payments, make the transition in order to educate and make them go digital.

“We focused on digital and social media to reach people at home. We created straightforward, instructional content to demonstrate how easy and secure digital payments could be,” Kumar says.

Rise of Digital Payments
As restrictions eased, Visa continued to promote the benefits of digital payments. “We needed to reinforce the message that digital payments are not only secure but also more convenient than cash. We emphasised that people could use their phones or cards to pay quickly and securely,” Kumar remarks. “

Visa’s campaigns evolved to address specific concerns about digital payment security. Kumar described how the 'Pay Safe with Visa' campaign aimed to enhance consumer confidence by focusing on security features like tokenisation. “We wanted to address the rising issue of digital payment fraud and reassure consumers about the safety of their transactions,” she notes.

Present and Future Outlook
Today, the ratio of cash to digital payments has improved immensely. Kumar reveals that the current ratio is approximately 60 per cent cash to 40 per cent non-cash, with expectations for digital payments to overtake cash by 2025. “The pandemic accelerated the adoption of digital payments,” Kumar observes.

In closing, Kumar emphasises the role of marketers in driving economic growth through brand initiatives. “Think beyond your brand and focus on how you can contribute to the broader economy. Understanding consumer needs, bridging gaps and educating them are crucial steps in navigating growth and achieving a shared agenda,” she advises.

The ‘In Focus: A Shared Agenda: How To Grow’ took place at the second edition of the Festival of Marketing in New Delhi.

Arya Rakshita

BW Reporters Trainee Correspondent