In today’s connected world, a consumer’s smartphone is their lifeline to more than simple calls and texts. It is their social network, their banking information, their safe ride to and from the airport, and even their place of relaxation. And as consumers, they rely on it, too. With more apps and internet availability than ever before, the ability to make purchases is always at their fingertips.
Enticing those customers to download a brand-specific app or visit your website to make purchases is an entirely different challenge — but there is an easier way to prompt desired decisioning behaviors. Enter mobile wallet. Most consumers already have this geolocation-enabled, native app on their phones and use it to interact with an array of different brands and experiences. Thus, they’re less likely to delete it entirely or disable its GPS abilities.
Curious how you could leverage mobile wallet to engage customers? Here are a few of the most popular ways brands are finding their way into customers’ smartphones:
1. Special offers
Sending customers a special offer is good. Sending them a special offer that directly correlates to their proximity to one of your brand’s storefronts or to their current state of being is better. By using mobile wallet, you can do just that and enable customers to store these offers in a convenient way. When a new offer becomes available, you can update their existing pass to reflect it, without ever requiring customers to execute additional downloads. And when they get close to your store, you can even remind them about their special offer, driving higher redemption rates.
2. Gift cards
Receiving a gift card is great — especially when you’re able to add it to your mobile wallet. By digitizing your gift cards and enabling consumers to access it in just a few clicks, you can drive higher gift card redemption and ensure customers actually visit your physical or online locations. At a glance, customers will know exactly how much is available on the card, eliminating frustrating guesswork. What’s more, the gift card will live in the customer’s mobile wallet until they physically remove it, keeping your brand front and center in their minds for months to come.
3. Loyalty cards
Loyalty apps aren’t a new concept; plenty of brands offer them to customers. Providing easy mobile wallet experiences can help your brand stand out from the crowd. By simply enabling customers to add their loyalty card to their native mobile wallet, your standard loyalty card becomes dynamic and delivers the latest status and points balances. You can deliver similar value as an app with less developmental investment on your company’s part, or effort on the customer’s.
Encouraging the behaviors you want to see from customers is the goal of most marketing. But what if you could catch their attention directly on their phone? Mobile wallet enables notifications similar to those you’d send in a loyalty app, enabling brands to remind customers of an available promotion when they are near a physical location or prompt them to redeem an offer before it is set to expire.
5. Event tickets
Storing tickets within the mobile wallet is not only convenient, it helps ensure customers have a smooth entry into whatever concert, movie, or event they may be attending. You can even provide a convenient reminder based on the customer’s location and proximity of the event that it’s time to access the ticket in question.
The capabilities of mobile wallet don’t stop there — especially for brands who creatively approach the native application as a new communication channel. In most cases, mobile wallet can enhance existing loyalty and cross-channel messaging programs, helping drive the results marketing teams have been tasked with achieving.
Want to learn more about mobile wallet? Our team is here to help. Reach out to us to learn more about how we can help implement this valuable channel into your marketing and loyalty strategies.
Chelsea Hollerud is a Digital Content Specialist at Cheetah Digital. Throughout her career, she has provided content support for nearly every area of enterprise business, including thought leadership, sales enablement, digital content, and more.