Have you seen The Customer-Focused Marketing Playbook?

This comprehensive and practical guide to the latest ideas in customer-focused marketing hands you over 200 packed pages of strategy, best practices, do's and don'ts, practical know-how, facts and figures, and ideas to optimise your marketing strategy, boost sales, market share, increase ROI and profit.

Get it on Amazon (Kindle/Print)

Two-thirds of consumers prefer mobile payment apps

Three in five use their mobile banking apps every week

Mobile banking app usage figures are available from a number of sources, but Entersekt's screening questions nevertheless yielded interesting results. Its findings show that about three in five mobile device owners (59%) report using their banking app at least once a week.

Apps for mobile payments are less widely used than banking apps, with only a third of mobile device owners (33%) using them on a weekly basis. It seems that most Americans are familiar with payment apps, but that they have yet to become a feature of daily life to the extent that banking apps have. While nearly three-quarters of mobile device owners (71%) have used mobile payment apps, only 7% use payment apps daily compared to 20% who use banking apps daily. Entersekt's Atlanta-based chief commercial officer Dewald Nolte explained: "No payment app has managed to reach a tipping point in the United States where acceptance is guaranteed. This has slowed adoption, together with lagging contactless infrastructure and issues around interoperability."

Over two-thirds of mobile device owners (68%) say they have more than one app for banking and payments, with 37% having three or more. Juggling so many apps, a majority of regular banking app users (those using banking apps once a month or more) understandably found the idea of an all-in-one banking and payment app attractive. Over two-thirds (68%) of regular banking app users would "like to do all banking and payments via one single mobile app." A similar majority (67%) claim they would be less likely to use cash or physical credit cards if they had such an app. The lure of an all-in-one combination app is stronger among younger adults (18 to years) who regularly used banking apps: just over three-quarters (76%) want one, compared to only 50% of those aged and over.

"Banking apps are the perfect launchpad for new payment capabilities," said Gerhard Oosthuizen, chief technology officer at Entersekt. "Demand for specialized payment apps isn't going away, especially for retail brands with superior loyalty programs, better-directed promotions, and on-the-go experiences like low-friction peer-to-peer payments, self-checkout, and in-app ordering. Still, most people use very few of those apps regularly, while banking apps are a leading category, both in downloads and active users.

The survey was conducted online in January 2019 among 2,076 US adults ages 18+, among whom 1,928 are mobile device owners, including 1,362 who use banking apps at least once a month.

Have you seen The Customer-Focused Marketing Playbook?

This comprehensive and practical guide to the latest ideas in customer-focused marketing hands you over 200 packed pages of strategy, best practices, do's and don'ts, practical know-how, facts and figures, and ideas to optimise your marketing strategy, boost sales, market share, increase ROI and profit.

Learn the insider's tricks and techniques to turn every customers into a 'super spreader' for your brand. It's better than free advertising. Once you start this ball rolling, your brand can grow rapidly through word-of-mouth, advocacy, influencers, and customer loyalty. Super-charge your company's marketing strategy, build up your market share, and make more sales through repeat business and customer loyalty.

Find out what works - and what doesn't - and who's succeeded, and how they did it. See how the world's top brands keep their competitive edge against all odds.

The Customer-Focused Marketing Playbook walks you step-by-step through the techniques, metrics, reporting, analysis, marketing models, technologies, tools and innovations for successful marketing strategies - both traditional and emerging - with expert guidance from thought leaders in every major market. Find out the best ways to gather, analyse, and act on customer data to increase profitability, build your brand, empower your customers, beat the competition, reduce churn, and increase customer profitability. This is a marketing book you simply can't afford to be without.

This book aims to hand you all the facts, figures and research data you need for the best decisions for a more profitable, more engaging marketing strategy. It also highlights all the facts, forecasts and trends identified by our experts from the global Marketing Factbook's vast database of market data, news, studies, research and articles, and presents you with an invaluable library of ideas and practical support you can call upon at will.

With The Customer-Focused Marketing Playbook at your side, you'll have instant access to a true goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, research and market data, plus all the supporting arguments you need to build a solid, profitable marketing strategy.

Get it on Amazon (Kindle/Print)