It’s not surprising that social networking has turned into a powerful marketing strategy of its own. Entities which range from international corporations to local businesses all have a presence on multiple social networking platforms. The viral nature of social networking causes it to be the quickest solution to promote content and promulgate information. With over 4.2 billion people accessing social networking on mobile devices, it is required for businesses to promote valuable and eye popping content. 2014 is the season of the mobile wallet – a strong and advanced direct marketing channel that will help businesses generate new leads, gain more traffic, and increase customer loyalty.
What is Mobile Wallet?
It’s a software where all payment and nonpayment wallet content which can be stored, organised, and accessed on smart phones. Customers mobile wallet marketing put their loyalty cards and coupons into their mobile wallet and the technology solves the remaining equation. As customers approach stores, relevant information automatically appears on their phone’s lock screen and provides them with one-swipe access to the relevant mobile pass. This allows great value and convenience for consumers and helps drive in-store traffic for businesses. In other words, a portable wallet allows for private interactions with customers that helps businesses cement their brand presence.
The New Direct Marketing Channel
There’s surging demand for businesses to provide wallet solutions that help consumers better organise and access content in their smartphones. Studies reveal that 94% of loyalty program members want communications from programs they be involved in, and 67% would join loyalty programs if they might sign up instantly. It’s clear that the demand for smartphone wallet solutions is high.
And the mobile wallet is just a game changer in the marketing realm. Businesses can produce and deliver personalised and unique content predicated on consumer preferences and spending behaviour. For example, shoppers who frequently purchase a certain model of chocolates may receive notifications of discounts on that brand as well as deals on related goods. Even information gathered on social profiles can be used to style tailored messages to consumers – messages which are more relevant, effective, and result in real, measurable action.
The issue in traditional marketing is in gauging a campaign’s success. With mobile wallet, businesses have access to a big data, such as for example amount of wallet content included with smartphones, quantity of transactions taking place, and far more in-depth analytics. This information is valuable and can be used to help businesses advance their marketing game plan.
Furthermore, the wallet content is dynamic. Traditional coupons concealed in leather wallets are static; they can only be used once and are discarded. Even after mobile wallet coupons are redeemed, businesses can update them to display future discounts and clients are notified of new offers immediately. This dynamism and versatility creates an abundance of opportunities for businesses to employ new marketing strategies in just a single campaign.
The Mobile Wallet and Social Media Marketing
To capitalise on the viral options that come with social networking requires businesses to create content that is not just eye popping but also drives users to generally share it with their social networks. Person to person is more powerful than one would ever guess, which explains why combining mobile wallet with social networking is an incredibly effective marketing tactic that will increase brand visibility. Execution is important – this includes timing, relevant messaging, and the proper audience.
Once businesses have created the wallet content, distribution is instantaneous. Businesses can post their pass links or scannable codes on their social networking pages where customers can immediately add mobile wallet content for their devices. Or even use a Facebook Pass to automatically produce a personalised pass, and add straight for their mobile wallet. Customers are then able to generally share it of their social networks, which in the current day and age, can result in exponential and explosive exposure.
Mobile is the space where businesses need to get authority, especially with the increased reliance on mobile shopping and mobile payments. It’s estimated that next 5 years, 50% of smartphone users will pay on their mobile devices. Jumpstart 2014 by leveraging mobile wallet and adding it as value-driven content to your social networking marketing strategies.
Paul Tomes invites you to give the mobile wallet a go and integrate into your social networking marketing.
You are able to design your mobile wallet content using the PassKit Pass Designer. It’s an intuitive visual web interface, enabling you to tap into your creativity to quickly and easily create tickets, coupons, store cards, membership cards and then promote these on your preferred social networking channels.