We make it our mission to provide you with really valuable resources that can help you better understand the benefits of mobile marketing. Recently, Forrester published its Get Ready To Activate Marketing Campaigns With Mobile Wallets report, and it was filled with valuable data about mobile marketing.
Here are some of the don’t-miss highlights.
Asia is Still Beating the U.S. in Mobile Wallet Use
While Forrester predicted back in 2015 that mobile wallets would become full-fledged marketing platforms, we’re not seeing the full scope of mobile wallet potential as much outside of Asia. In China and Asia Pacific, Alipay and WeChat are going beyond payment and loyalty card features to provide users with public services, real-time tax rebates, and augmented reality coupons, just to name a few features.
Forrester found that, of the digital business leaders and marketers it surveyed, 16% regularly use Apple Wallet and 14% regularly use Google Pay. The firm expects these adoption rates to double by 2020.
Mobile wallet use in the U.S. is increasing. Airlines, quick-serve restaurants, and retailers have begun experimenting with features to provide added value to consumers, and will continue to do so.
Digital Loyalty Programs Have Room to Grow
Despite the obvious value that mobile wallet-based loyalty programs offer, Forrester has found that only 23% of U.S. online consumers access loyalty solutions on their smartphones, which is still more than the 14% who use them in Europe.
Speaking of Europe: to boost mobile loyalty program use, startups like FidMe (France), Loyalive (UK), and Stocard (Germany) are working to increase adoption by providing an easy way to store all loyalty card data in one place. In the U.S., retailers have success getting loyalty card signups through popular mobile wallets Apple Pay and Google Pay, which already have a significant user base.
Retailers Who Persist Will Win
While it will still take time to get more widespread adoption of mobile wallets, the brands that are already using them are the ones that will lead the pack.
Chipotle (a Vibes client) launched more than 50 mobile wallet campaigns in 2017, and saw an in-store mobile wallet redemption rate of 51% with its Friend or Faux program.
And a high retention rate — due to the fact that once a user adds an offer to her wallet, that retailer can continue to send her updated offers — is another appealing characteristic for companies who want to retarget specific customer profiles.
Mobile Wallet Allows Marketers to Engage Across the Customer Life Cycle
Yet another perk for marketers is how versatile mobile wallet is in reaching consumers no matter where they are in the life cycle.
When consumers are discovering solutions to a problem, brands can connect with them through promotions. Once they explore a specific product or brand, providing details about the product or store can encourage consumers to consider making a purchase.
Speaking of purchases: ecommerce platforms can be integrated with mobile wallet to make buying something through a phone simple and streamlined. Even after the purchase, mobile wallet can provide context for customer support or upsells for future purchases.
Proud to Be Part of the Solution
Forrester’s report shows that, while we’ve come a long way in the last year or so with mobile wallet adoption as well as marketing use cases, the U.S. still has a long way to go. But Asia is inspiring with its many innovative uses of mobile wallet.
Succeeding with mobile wallet marketing requires the right mobile partners. Vibes is, as Forrester points out in the report, “the first significant mobile marketing vendor to invest in wallet marketing and continues to be a leader in the space.” (Aw, thanks Forrester!)
We’ve worked with hundreds of brands, many of whom were highlighted in this report, due to the smashing success they’ve had, to jump to the forefront of mobile marketing before everyone else catches the wave.