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 the 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, especially as we got to use more of their contactless payment methods or wallets over these last two years. But where it 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 thanks to apps like WeChat Pay and Alipay, the market is continually growing in the USA and in 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.

Mobile Wallet Marketing on GPay

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 usages 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 and 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 mean of engagement with the customers as it will allow a brand to acquire, to increase its reach, to engage but also to 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.

Mobile Wallet Marketing on GPay

Let’s not forget that personalized content is always a welcomed content. Knowing the customer can help to personalize the wallet’s content and improve the engagement with your brand. Already in 2018, Vibes found out that on 1,000 U.S. smartphone owners 87% were most likely to save personalized mobile wallet content.

Same goes with the loyalty points, real-time updates are always welcomed. Especially if the customer is changing its status on the loyalty program because of a voucher used thanks to the wallet.

While a brand doesn’t need to have its own app to give its customers access to a mobile wallet, it is most 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 its 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 at least three days, and even 90% after one month. Meanwhile, brands reach 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 platforms: Selligent, Saleforce Marketing, Adobe Campaign, Emarsys, Actito, etc.

Captain Wallet custom activity in Marketing Cloud

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.

On themselves, these solutions are also easy to use to automate push notifications, personalize the content, target your customers and exports 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!

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