The Marketing Strategy of Siply with SWOT Analysis

Updated on: Jun 22, 2023

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My name is Aditya Shastri and I have written this case study with the help of my students from IIDE's online digital marketing courses in India.

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An app that can help thousands of people become financially independent? Looks pretty interesting, right? Then Siply is at your service. Siply is a tech-based micro-savings application that is based in Bengaluru, it’s the first platform in India, where the investment can be as low as rupee 1! 

So what does Siply exactly do to help such a vast amount of investors around India? It is an operated website and mobile application where one can invest starting from micro-savings making it flexible and vernacular.

According to their recent fund activity, Siply Private Limited has raised over $ 1,000,000 and has recently launched an affordable Gold Savings Scheme.

In this blog, we will explore the marketing strategy of Siply and also its SWOT Analysis. But first, let us start by exploring how Siply works.

About Siply Private Limited.

marketing strategy of siply-logo

Based in Bengaluru, India, Siply helps underserved masses inculcate savings and investment through its relevant policies. Founded in July 2020 by Sousthav Chakraborty, Anil Bhatt, and, Nitin Mitta, Siply is a fintech startup claiming to be catering to over 40 crore people. 

Making an individual financially independent, this micro-savings app provides frictionless savings and digital onboarding with easy set-up and time-friendly measures. The startup is not only working as a tech-based app but also working on enabling micro-savings for the users of other platforms with a platform-as-a-service (PaaS) model.

With its unique ability of instant withdrawals and investment from 0, the company has signed MOUs with Bighaat, Pickmywork, Gig4CE, and Xoxoday with other larger institutional partners. In January 2021, the startup raised over $1 million in funds in a seed round by Inflection Point Ventures.

Siply India’s Target Audience 

Siply is a convenient app and website for investing, buying, selling, and withdrawal method for basic audiences in India. It is a simple method for audiences around the country to be financially independent and it attracts its customers with perfect examples and easy transactions.

Siply’s target audience is the general public. With numerous advances given by Siply’s app, a person can invest in a wide range with a lot more benefits given by the app and website to make payments. 

Siply is a Mutual Fund distributor and it facilitates transactions with regard to third-party payment options as well, using Asset Management Companies (ACMs). Siply now has also introduced a Gold saving scheme for their customers. 

As you can see that Siply is customer friendly and stretches out with the most prominent advances to facilitate their customers. Its target audience explicitly reaches out to a group of the general public.

marketing strategy of siply-app

Digital Marketing Academic Challenge 2024 - DMAC

The Marketing Strategy of Siply 

As the world around us is now fully devoted to technology as well as digital, it is easy for us to purchase and sell products. That’s how Siply works for its audiences.

Siply has introduced several schemes and investment strategies. The main domain of Siply is to make savings and investments of their customers accessible and financially independent in India. 

Siply is popular in India and mostly in the local areas of India. It has spread largely with its financial savings and money retrenchment agenda. But in the sector of marketing, Siply has a long way to go. However, it has helped much general public with regard to easy payment and investment. Siply is a user-friendly and systematic commodity.

List of Top-Ranked Companies including Siply:

marketing strategyof siply

What exactly is the Marketing Strategy of Siply? Let us acknowledge how it makes frictionless savings with its immense marketing strategy.

Siply with Mutual Funds

Siply has a mutual fund where a person can invest systematically for future returns. It is an efficient way of the marketing strategy of Siply that attracts many investors and audiences for the same.

Siply Gold Saving Scheme

marketing strategy of siply-goldscheme marketing strategy of siply-gold scheme

The Gold Saving Scheme was introduced by Siply in Jan 2021. The Gold saving scheme is where you simply invest and get an extra percent of whatever you already invested. It is a good marketing strategy of Siply and is affordable as it is available with flexibility and installments.

Siply and Bighaat

Siply has made free digital gold for Bighaat users as well as exclusive gold offers for both their users as well as customers. It marks a good marketing strategy of Siply adjoining both companies.

marketing strategy of siply-gold offer

Siply Digital

Lastly, a great marketing strategy of Siply is to be on a digital platform. The application is durable and easy to handle with great efficiency in understanding its customers and audiences across the country.

marketing strategy of siply-siply app

Siply’s Digital Presence

Simply has a presence on various social platforms which are mentioned below:

Siply’s LinkedIn profile

marketing strategy of siply-linkedin

Siply’s Youtube channel

marketing strategy of siply-youtube

Here, Siply shares videos about its offers, products, and customer feedback.

Here’s a YouTube link for customer stories! Check out what impact the Marketing strategy of Siply has on its customer and how it has helped in user retention and acquisition.

Siply also has an account on Instagram and Facebook

marketing strategy of siply-socila media

These Social platforms can become an effective tool in the marketing strategy of Siply if used efficiently.

SWOT Analysis of Siply

As an intriguing startup in India, we must understand the in-depth information of a company. Let us find out about the strength and weaknesses of Siply.

Strengths of Siply

1. Supply: Supply is a micro-saving-tech-based app and website which can be easily used by anyone for transactions and investments. It is effectively used by many customers all over India for their convenience.

2. Capital: Its authorized capital share is Rs. 46,000,000. Its paid-up capital is Rs. 11,876,080. 

3. Business Activity: It is involved in Business activities- Bighaat, Gig4CE, Pick My work, and Xoxoday.

4. Durable and digital-friendly apps: Siply’s app and website are durable and easy go-to comfortable and efficient for their customers.

marketing strategy of siply

 Weaknesses of Siply

1. It is a fresh startup with many growing startups: Other startups like CoinDx, Spoon, Qua, and other startups might race with Siply.

2. It has very limited customers: Although it might have been very safe and affordable with its offers, there are still some doubts related to investment and trust issues by the users.

3. Banking and transactions can be risky: Banking and transactions can be very hard at times, following the lack of understanding of some people regarding the use of e-payment.

4. Might have website and app crashes: Websites and apps often experience crashes and errors which might be seemingly a loss of audience and can also give rise to a loss of interest.

Opportunities for Siply

1. Weekly rewards and job opportunities: Rewards of Gold and appliances as well as weekly rewards to the users can bring good opportunities to the marketing strategy and the audience. 

2. Gold scheme rewards: Siply introduced Gold scheme rewards in January 2021 with affordable rates and surprising offers.

3. Easy investment and mutual fund: Siply gives the customers and the user an experience where it is safe and easy to invest and fund anytime and anyhow.

4. Third-party payment options and safe e-commerce: Siply also has a policy of third-party payment options which can be very useful for other customers and it safeguards its policy with terms and conditions.

marketing strategy of siply

Threats to Siply

1. As a new blooming startup, it has a threat of becoming inferior to other growing startups.

2. IP (intellectual property) threats.

3. Protocol-Specific and Application Threats.

4. Lack of Multifactor Authentication.

Hence, the SWOT analysis is a brief and short description of Siply Private Limited. Siply not only helps an individual become financially independent but is also a great platform for investment and banking. The following image shows the plan for individuals and enterprises.

Siply for Enterprises and Individuals

marketing strategy of siply-gold scheme

Siply’s Media and Awards

marketing strategy of siply-awards

Digital Marketing Academic Challenge 2024 - DMAC

Conclusion

As a result, among many growing startups, Siply is innovative and proves the safety and security of its customers and users. Siply not only has financial aids as well as many opportunities for people around the country to be financially independent. The money-saving scheme and on-guard withdrawals with many more advances are sufficient for the people.

As the company’s benefits make Siply the most affordable service, The digital marketing strategy of Siply is as important as its money-saving scheme. As everything happening around us is digital, digital marketing strategy has become important. Siply is fully techno-based and it’s dependent on digital marketing and it should continue with its digitally-based offers.

If you are interested in knowing more about this skill do attend our free masterclass on Digital Marketing (by the CEO of IIDE- Indian Institute of Digital Education-Karan Shah) every weekend.

And if you liked this blog then do share it with your friends and family and express your thoughts or questions about the marketing strategy of Siply in the comment below!

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Aditya Shastri

Lead Trainer & Head of Learning & Development at IIDE

Leads the Learning & Development segment at IIDE. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. He has been a guest speaker at prominent colleges in India including IIMs......[Read full bio]

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