Enhance Social Media Marketing Strategies with Mobile Wallet

It’s no secret that social media is a powerful marketing strategy of its own. Entities ranging from international corporations to local businesses all have a presence on a number of social media platforms. The viral nature of social media makes it the quickest way to promote content and promulgate information. With over 4.2 billion people worldwide accessing social media on mobile devices, it is necessary for businesses to promote attention grabbing and valuable content. This is the year of the mobile wallet – a robust and advanced direct marketing channel that will help businesses generate new leads, gain more traffic, and increase customer loyalty.
What is Mobile Wallet?
It’s an application where all payment and nonpayment wallet content can be stored, organised, and accessed on smart phones. Customers put their loyalty cards and coupons into their mobile wallet and the technology solves the rest of the equation. As customers approach stores, relevant information automatically appears on their phone’s lock screen and provides them with one-swipe access to the relevant mobile pass. This provides great value and convenience for consumers and helps drive in-store traffic for businesses. Simply put, a mobile wallet allows for personal interactions with customers that helps businesses cement their brand presence.
Mobile Wallet is the New Direct Marketing Channel
There is surging demand for businesses to provide wallet solutions that help consumers better organise and access content in their smartphones. Studies show that 94% of loyalty program members want communications from programs they participate in, and 67% would join loyalty programs if they could sign up instantly. It is clear that the demand for smartphone wallet solutions is high.
And the mobile wallet is a game changer in the world of marketing. Businesses can create and deliver personalised and unique content based on consumer preferences and spending behaviour. For example, shoppers who frequently purchase a particular brand of chocolates may receive notifications of discounts on that brand or even deals on related goods. Even information gathered on social profiles can be used to design tailored messages to consumers – messages that are more relevant, effective, and lead to real, measurable action.
The difficulty in traditional marketing is in gauging a campaign’s success. With mobile wallet, businesses have access to big data, such as number of wallet content added to smartphones, quantity of transactions taking place, and much more in-depth analytics. This information is valuable and can be used to help businesses advance their marketing game plan.
Furthermore, the wallet content is dynamic. Traditional coupons concealed in leather wallets are static; they can only be used once and are discarded. Even after mobile wallet coupons are redeemed, businesses can update them to display future discounts and customers are notified of new offers immediately. This dynamism and versatility creates an array of opportunities for businesses to employ new marketing strategies – all within a single campaign.
Combining Mobile Wallet and Social Media Marketing
To capitalise on the viral features of social media requires businesses to create content that is not only attention grabbing but also drives users to share it with their social networks. Word of mouth is more powerful than one can imagine, which is why combining mobile wallet with social media is an extremely effective marketing tactic that will increase brand visibility. Execution is important – this includes timing, relevant messaging, and the right audience.
Once businesses have created the wallet content, distribution is instantaneous. Businesses can post their pass links or scannable codes on their social media pages where customers can immediately add mobile wallet content to their devices. Or they can even use a Facebook Pass to automatically create their own personalised pass, and add straight to their mobile wallet. Customers are then able to share it within their social networks which can lead to exponential and explosive exposure.
The mobile space is where businesses need to secure authority, especially with the growth of mobile shopping and mobile payments. It is projected that within the next 5 years, 50% of smartphone users will pay for items on their mobile devices. Jumpstart 2014 by leveraging mobile wallet and adding it as value-driven content to your social media marketing strategies.
By Wendy Chan