What Mobile Wallets Mean for Mobile Marketers
What if you could have all your credit cards, gift cards, loyalty cards and mobile coupons all securely located in one place? And what if that place just so happened to be inside the one device that you carry around all the time?
Well, now you can.
Near-field communication (NFC) technology is revolutionizing the mobile commerce sector, allowing consumers to ditch their wallets and instead swipe their smartphones at checkout.
With the recent launch of mobile payment systems like Google Wallet, Isis and PayPal mobile payments, many marketers are starting to realize the effects that this payment transformation will have on mobile marketing.
The integrated mobile commerce initiative will combine mobile coupons and loyalty programs with mobile payments, giving retailers the almighty power to track customer purchasing decisions. Retailers and marketers will have the data needed to answer imperative questions about consumers: Who are they? What is their purchasing behavior? How often are they shopping? How much do they typically spend?
With this type of information at their disposal, retailers can team up with mobile marketers to create targeted, relevant offers and discounts at the point-of-sale.
The innovative technology not only engages consumers, but creates a communicative interaction between them and the brand. The mobile wallet will give marketers the opportunity to interact with consumers at the moment of the transaction, perhaps exposing the consumer to the brand’s mobile application or an instant coupon.
Innovation enriches the customer’s purchasing experience, but even more so do loyalty and engagement. Mobile marketing relies on the notion that consumers are relatively attached, if not completely addicted, to their mobile devices. The mobile wallet creates an even deeper connection between consumers and their phones, thus giving mobile commerce the potential to be a huge driver for mobile marketing.