Mobile Wallet Marketing is One of the Most Efficient Ways to Engage and Communicate with Prospects and Customers.
Mobile Device Usage
More than ever, consumers rely on their mobile phones to manage their lives. More than 2/3 of the US adult population currently uses a smartphone, with the majority relying on iOS (Apple) or Android (Google open source) operating systems to power their devices.
iPhones, made by Apple, have Apple Wallet (formerly Passbook), the mobile wallet application created by Apple, as an OEM install that may not be deleted without rooting the device. Apple leverages Apple Pay and Apple Watch on the Passbook framework and is also developing a HomeKit and HealthKit for iOS devices that leverages the same technology base.
Android users currently have a number of options, with Google Wallet being the most popular. New Android phones will begin shipping with the app pre-installed shortly, with the possible exception of Samsung units, since Samsung has announced the creation of its own payment and wallet platform, Samsung Pay.
Other wallets are in development by companies as varying as Facebook (Messenger), Paypal, CurrentC (owned by a consortium of retail stores), MasterCard, Visa, Square, and Amazon.
iPhone 6 and 6+ with Apple Wallet (Passbook) ads
How Does Mobile Wallet Marketing Work?
Mobile wallet marketing is a very simple process. Small bits of computer programming are wrapped into what is called a pass. This pass will then display on the device – in Apple Wallet (formerly Passbook) or Google Wallet – and the information it contains will appear on the screen.
There are different types of passes, and you may be familiar with using a mobile wallet to display a boarding pass if you have flown in the past year on any of the larger airlines such as United, Southwest, American or Virgin. Fandango also drops passes into mobile devices for movie tickets; Starbucks and Sephora use passes to help manage their loyalty and gift card programs.
A number of these passes, specifically iOS, are natively integrated with the iBeacon, a short range Bluetooth transmitter that meets certain Apple specifications, and triggers a response from the device when it comes into range. Both Apple and Google Wallet passes are compatible with geofencing, or medium range notifications triggered when the phone’s built in GPS signals its location to be within the range set by the applications for notification.
How Can I Use Mobile Wallet Marketing for My Business?
The easiest and most efficient way to use mobile wallet marketing for your business will depend, in part, on what type of business you have.
- Realtor® – create a pass for each property that you list so that interested buyers can download the information about the home to their smart phone, and take it with them when they go to look at properties they like. When a home is taken out of inventory, the pass can be converted to a regular business card, or perhaps a similar home in a nearby neighborhood might take its place. In either case, the prospective buyer could be notified when the home was sold — or when an offer had been made, possibly prompting the buyer to also make an offer. You can use geofencing and iBeacons on property to give them more information or to trigger a contact with you if no one is at the property when they arrive.
- Digital marketers – as online marketing professionals are only too aware, being in constant contact with prospects and clients is paramount to creating an ongoing relationship with those clients. The ability to engage and communicate with prospects, clients and students is critical to maintaining a close, ongoing relationship. Sending notifications and updates when new course materials or additional funnel products are being released is elemental to generating traffic and interest in products.
- Agencies – PR/web design/business services/advertising – mobile wallet marketing is a FANTASTIC OPPORTUNITY to offer your clients something new and extremely effective for their promotions and marketing. Creating campaigns and managing them is simple and does not require complicated programming skills or full time development staff. Simple graphics and some creative thought for Live Link text and URL destinations are the basic building blocks of a good campaign.
- Automobile Dealerships – looking to increase sales, generate additional LTV, or leverage your existing customer base into higher repeat volume? That’s what mobile wallet marketing does for automobile dealers! Whether it’s pushing service after the sale, generating customer interest, or encouraging customers to refer more friends, co-workers and neighbors, it’s easy to design and execute a campaign that will have you seeing GREEN.
- Trade Shows and Event Venues – mobile wallet marketing passes are THE SINGLE BEST way to manage your traffic flow, engage and communicate with attendees prior to (and after) your event; the opportunity to offer sponsors a value-add that’s impossible to get from any other source (including stand alone apps) should be one of the key reasons you decide to add mobile wallet event tickets to your next production.