18 Jan
Less plastic is always good, right?
Lately, apps such as Google Pay and Apple Wallet have been preinstalled on most smartphones, thus generating more talks about mobile wallet marketing. But what is this and how is it affecting marketers?
What is a wallet?
We all know Google Pay or Apple Pay/Apple Wallet. We all got to use more of their contactless payment methods or wallets over these last two years. But what is interesting is that they are not just for payments. These apps also store membership, loyalty cards, passes (coupons, vouchers), gift cards or even boarding passes!
While China has been the leading example of wallet use in the market because of their 1,5 billion contributions. All thanks to apps like WeChat Pay and Alipay, the market is continually growing in the USA and Europe.
Everything that was either on paper or plastic can be added to these mobile wallets. No more looking through all your loyalty cards to give the right one to the cashier.
But more importantly, marketers can deliver branded content to their customers’ smartphones without having an app on its own. A new incentive or sale? The most relevant information will always be closed to the customer… if the pass has been downloaded on the wallet app.
To ensure the pass has been implemented it needs to be promoted. A campaign with the link to download the pass can be sent to all the brand’s touchpoints: email, text, in-app, points of sale, social posts, on tv, etc.
While most of the usage of the mobile wallet will be for brands with drive-to-store strategies, the offers can also be used online or in the brand’s app. It is a more modern path to traditional loyalty programs. Yet it will provide a new way to get easy-to-access (and to remember) vouchers to your customers.
How is it affecting traditional marketing?
Mobile wallet is another means of engagement with customers. It will allow a brand to acquire, increase its reach, to engage but also maintain consistent customer engagement through the wallet.
A perfect way to get more customers is to target the brand’s community or a lookalike audience on Facebook, Instagram, etc. with offers.
As of now, no opt-in is required and both Apple Pay and Google Pay are GDPR-compliant. If the customer added the pass to its app, the notifications can be sent.
Push notifications appearing on the lock screen will alert customers of soon-to-be expired coupons or unused points. This is therefore another way to improve retention rates.
Let’s not forget that personalized content is always welcomed content. Knowing the customer can help to personalize the wallet’s content and improve engagement with your brand. Already in 2018, Vibes found out that of 1,000 U.S. smartphone owners, 87% were most likely to save personalized mobile wallet content.
The same goes with loyalty points, real-time updates are always welcomed. Especially if the customer is changing their status on the loyalty program because of a voucher used thanks to the wallet.
A brand doesn’t need to have its app to give its customers access to a mobile wallet. But it is useful to synchronize the app to provide a way to download the loyalty card, or new coupons so that the customer can save them in their wallet.
In 2021, Captain Wallet found out that apps are being uninstalled as soon as they are installed. Apps are losing almost 75% of their customers every day after being installed for at least three days. It goes as far as 90% after one month. Meanwhile, brands reach a 90% retention rate on the 70% that have added their passes to their mobile wallets.
Solutions that exist to make marketers’ life easier
Captain Wallet is the leading mobile wallet marketing platform to enable brands’ digitalization of their loyalty programs. In a few steps, it can be connected to any automation platform: Selligent, Salesforce Marketing, Adobe Campaign, Emarsys, Actito, etc.
Another solution is Airship Mobile Wallet, but its platform is mostly connected to Acoustic and Salesforce Marketing Cloud, the other connections to CRM platforms being custom.
Gowento is another solution. As it is a Splio company, it is integrated into its marketing platform.
By themselves, these solutions are also easy to use to automate push notifications, personalize the content, target your customers and export reports to see how well your campaign is going on.
Where Captain Wallet is superior is with its connection to Salesforce Marketing Cloud. Its custom activity can be used after a scoring activity made by AI, such as Einstein Engagement Scoring in Journey Builder. Thus loyal customers may be rewarded with higher promotions in their wallets.
Do you know another way to improve engagement on your campaigns? Find out about cezium’s voucher app for Salesforce Marketing Cloud!
Related Post
Copyright © 2019 Cezium. All rights reserved.