Mobile Wallets Offer More Bang Than Payment Bucks
Andrew Degenholtz brings some 20 years of experience as an active participant and innovator in magazine circulation and mobile app marketing to his current position as president of Oplytic, LLC, which he founded in 2009. The company offers a variety of tools to help its clients acquire engaged and paying mobile users. He is a member of the Alliance for Audited Media digital edition task force, created to develop best practices for acquisition of digital magazine subscribers.
Android and iPhone mobile wallets aren’t just for payments anymore. They are a surefire way marketers can connect with prospective and existing customers via relevant content, special offers, loyalty programs, and more. While providing quick, convenient and secure payment methods is a given, it’s important to take advantage of the opportunities mobile wallets offer as noted in the bullet points below.
Even while shopping in brick-and-mortar stores, consumers rely on their smartphones to share photos of merchandise, read customer reviews and access special offers. From shopping lists to digital receipts, customers expect their mobile wallets to be fully-loaded. According to a recent report by Forrester Research, almost 60% of smartphone users want mobile wallets to provide loyalty program points and rewards; more than 50% want to access coupons, discounts and comparative pricing; and 50% want product information, the ability to make restaurant reservations, and pay at the table.
As mobile wallets become major marketing platforms, brands will continue exploring ways they can be used to boost business. For example, Apple Wallet does a bang-up job serving customers with its ability to save and organize branded content while Google uses gathered data from online transactions to target users with relevant ads. Such B2C and B2B efforts enhance the mobile wallet experience for both consumers and clients which in turn strengthens business and creates an advantage over building out a full app and fighting for app store discovery, a challenge they face, once an app download stage is achieved.
Aim beyond apps
To find customers where they are, marketers must go beyond their own apps. Shoot for a strategy that drives mobile wallet installs via email and mobile web; engages consumers through smartphone lock screens; and integrates open APIs and advertising opportunities with specialized mobile marketing companies.
To take advantage of these mobile wallet capabilities check in with Oplytic for to review promotional strategies and implementation!