Just in case this answer helps someone else -- I came here thinking I had a problem with zero padding, but it was actually to do with 12:00 vs 00:00 and the %I formatter.
The %I formatter is meant to match 12-hour-clock hours, optionally zero-padded.  But depending on your data source, you might get data that says that midnight or midday is actually zero, eg:
>>> datetime.strptime('2015/01/01 0:12am', "%Y/%m/%d %I:%M%p")
ValueError: time data '2015/01/01 0:12am' does not match format '%Y/%m/%d %I:%M'
What strptime actually wanted was a 12, not a zero:
>>> datetime.strptime('2015/01/01 12:12am', "%Y/%m/%d %I:%M%p")
datetime.datetime(2015, 1, 1, 0, 12)
But we don't always control our data sources!  My solution for this edge case was to catch the exception, try parsing it with a %H, with a quick check that we are in the edge case we think we are in.
def get_datetime(string):
    try:
        timestamp = datetime.strptime(string, "%m/%d/%Y %I:%M%p")
    except ValueError:
        # someone used zero for midnight?
        timestamp = datetime.strptime(string, "%m/%d/%Y %H:%M%p")
        assert string.lower().endswith('am')
        assert timestamp.hour == 0
    return timestamp