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Top ways your brand can capitalize on the opportunity beyond mobile payments
A significant amount of the hype surrounding mobile wallet is focused on payment capabilities—with applications like Apple Pay and Google Pay providing consumers with the ability to ditch their plastic cards and lean on their mobile device to make payments. And rightfully so. This shift from physical to digital wallets is clearly a game-changer, but the impact reaches deeper than just payments.
Mobile wallet applications are also digitizing coupons and loyalty cards—opening an entirely new marketing channel for brands to communicate with customers. With mobile wallet marketing for coupons and loyalty cards, brands can amplify the effectiveness of existing marketing efforts by harnessing location-based marketing and automatic updates.
Integrating mobile wallet marketing into the mix enables brands to increase store traffic, drive coupon redemption, strengthen brand loyalty, and enhance loyalty engagement. And the best part is—you may not need to plead with IT to get started.
Here are four easy ways your brand can pick up some quick wins with mobile wallet marketing, without hogging weeks of valuable resources.
Integrate Mobile Wallet with Existing Email Promotions
With the tap of a button, your customers can add your existing email offers directly to their mobile wallet. No more remembering, searching, printing, or cutting. Automatic updates enable customers to always have the latest offer on their device, and with location-based marketing, customers can receive a lock screen notification reminding them of available offers nearby. Location-based notifications have helped retailers drive upwards of a 4x lift in coupon redemptions—just by reminding customers of available offers nearby.
Amplify SMS and Other Digital Promotions
Offering coupons and savings via SMS or social media? Including a link to a mobile wallet object lets customers tap to add the offer to their wallet and allows brands track the entire lifecycle from delivery all the way to redemption. When customers are nearby, brands can nudge customers with lock screen notifications to drive store traffic and coupon redemption.
Enhance Loyalty Access
Never again will customers need to scramble to find their loyalty card—or even their loyalty points balance. Enable customers to add their loyalty card to their mobile wallet for easy access and convenience. If there’s ever a change to their loyalty status or points balance, dynamic updates make your customer the first to know.
Improve Customer Experience
Utilize location-based marketing to greet customers arriving to your store or establishment. Hotels can drive traffic to onsite restaurant and shopping, retailers can inform customers of daily deals and special offers. Text fields on mobile wallet objects can be updated to reflect the latest offer—reducing wallet clutter and keeping your brand top-of-mind.
Whether its channel optimization, or real time offers and updates, mobile wallet can be a great way to establish a perpetual presence on your customer’s device and enhance your user experience across marketing, loyalty and transactional engagements.
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