Marketing

Mobile Wallet Marketing to Increase Consumer Engagement

Each year mobile devices broaden their role in digital marketing!

Mobile marketing has already become of utmost importance for most brands. 

It’s time to enhance consumer satisfaction by making digital content engaging and convincing. You can drive in-store visits with Mobile wallet marketing, increase redemption rates, and incentivize customers beyond apps and text messaging.

Mobile wallet marketing provides a new approach to current loyalty programs. It offers more opportunities for customer interaction with relevant, tailored and timely content.

With the emergence of new mobile technologies, such as 5G networks in some countries, means of advertising by mobile devices are also improving.

Evolution of mobile marketing right now rely directly on the actions of the users. Marketers need to consider a customer's entire journey from having an inspiration to the actual purchase. Mobile-based approaches have changed increasingly with the use of technology in day-to-day life. It has completely transformed how customers purchase products, and how retailers accept payments. 

In the past few years, the use of digital wallets has increased significantly.

When we need to pay at the time of purchase, we are provided with a range of choices to make the payment. 

As we continue to move from a cash society to one that accepts digital payment, smart dealers will continue to find ways to integrate the love of smartphones with their payment getaways. 

Mobile wallets have become a one-way communication tool with mobile users.

Despite being native to both iOS and Android, mobile wallets are still working their way up to be a popular method of payment.

Mobile Wallets Beyond Payments

Businesses need to embrace the opportunity offered to connect with consumers in new ways by increasing mobile wallet use. 

Mobile wallet provides another continuous smartphone messaging platform, enabling businesses to increase user interaction without having a dedicated app.

The use of mobile wallets as a marketing channel can lead to many unexplored opportunities which benefit businesses and customers alike. 

Customer engagement and loyalty are the core goals of every well-functioning company.

How to Market with Mobile Wallets

Like every other marketing form, a good strategy is essential to achieve good results. Mobile wallet marketing isn't as simple as letting your customers make payments to your store. 

The aim is to keep the customer experience consistent through a mobile wallet app. Your strategy will strive to improve the experience of customers through the engagement of content. 

This can be achieved in a number of ways:

Mobile Passes

Mobile wallets allow users to save event/concert tickets directly on their mobile devices as well as deals and coupons.

Loyalty Cards

Offer digital cards to your customers as part of your loyalty program which allows them to get timely deals, discounts, coupons and tickets. It will improve both the rate of redemption and customer loyalty. 

Mobile Wallet Notifications

Customers are always given a voucher but most of the time, they forget all about it. They miss a chance to get a good deal by not redeeming the voucher and with this, the company is losing out on future sales.

Moreover, you can use mobile wallets to send alerts of location-based triggers to remind them of a future offer.

Brands using Mobile Wallet Marketing

Starbucks

Starbucks was the visionary in the mobile wallet marketing trend as they were among the first to introduce a mobile wallet application. In addition to payment functionality, their app incorporates other interesting features such as loyalty cards, product details, gift card, and branded content.

Google

Google used the mobile wallet marketing strategy when the online payment system, Android Pay tapped on Google's most innovative asset — the Google Doodle. Google Doodle is the search engine for the company and one of the best marketing tools. The idea was to play cartoons of the season each time a user made a payment using the Android Pay.

For marketers, mobile wallets are a smarter and more productive means as they save time and energy in the broad scheme.

Wallet marketing campaigns are interactive and measurable. Tracking these data enables marketers to gain a crystal clear insight into what works for their consumers and what doesn't.

Mobile wallets undoubtedly reflect the future of marketing campaigns. Marketers will be at the forefront of this trend by instantly incorporating mobile wallet strategy into their marketing strategies.

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