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How to use mobile wallets as your new marketing campaign tool

How to use mobile wallets as your new marketing campaign tool

By Francisco Belo, CEO of Passworks

Every day the world is becoming more mobile, with a widespread adoption of smartphones that has transformed the industry and the way people use and interact with their devices. But while the world becomes more mobile and ecommerce is on the rise, retailers are finding it difficult to attract customers into their stores.
Successful strategies to drive retail traffic are vital to business performance and it’s key to find innovative ways to acquire new, and engage with, existing customers.  

Why mobile?

Consumers are spending more time in the digital world than ever before. Currently there are around 1.4 billion users worldwide, and smartphone adoption is growing rapidly. It’s always on, it’s personal, location-aware and history-aware. This creates a huge opportunity for mobile to be a key media format in driving real engagement with your customers.

In a world where your smartphone stores books, music, documents and apps for almost everything else, it makes sense that your phone should be able to store tickets, vouchers or cards. Constantly having to carry lots of vouchers, multiple store or membership cards in your wallet, printing tickets or having to go somewhere in advance to pick them up, can be a hindrance when time is increasingly important.

Exploring new platforms

Brands and retailers are eager to explore the opportunities that lie in mobile and social platforms, and mobile wallets are just one way to connect with the customer through their phone.  

Apple’s Passbook introduced non-payment features, such as loyalty, and was swiftly followed by Google Wallet, meaning that consumers can now store multiple passes on their smartphone in one place. The new versions of mobile wallets have been redesigned to meet the needs of brands, to deliver compelling content to consumers on their smartphones via the use of dynamic passes (such as digital coupons, loyalty cards, boarding passes, event tickets and others offers), push notifications and real time location-based messages. These new functionalities present a win-win situation for retailers, brands and their customers.

Opportunity to engage new consumers

This is a real opportunity to communicate with consumers. Taking advantage of these features will be key in exploring how mobile and social platforms can increase share of mind and share of wallet to bring the user in to a store via their device.

Brands and retailers can now easily send personalized offers and distribute passes to drive store traffic and increase both conversion rates and consumer loyalty, enabling a very cost-effective location-based marketing campaign. Additionally, and one of the most impressive aspects of a digital pass is that it can be updated with new information in real time.

Consumers have already made it clear they want a mobile wallet solution that is convenient and easy to use, while helping to better organize all their shopping-related information, creating a better overall shopping experience.

Location-based targeting

Now instead of carrying around vouchers that may have expired months ago, consumers can keep everything in one place on their phone and let the technology remind them of the offers available.

The mobile wallet has created a new way to stay front of mind due to real-time updates, location tracking and push notifications. The opportunity to bring the consumer back offline and into a physical store again, means that there is a huge potential for small businesses to target new customers in the local area in a cost effective way; creating an interconnected and seamless experience between the mobile and shop floor.

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