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Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format. With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

Get it on Amazon (Kindle/Print)
 

M-payments are the tip of a huge iceberg

Today's consumers are increasingly using mobile devices, whether it's a tablet or a hand held, to browse products, read reviews, and make purchases both at home and on the move. And, although it has been a long time coming, contactless payments appear to be gathering traction in the financial service and retail sectors, according to Mark Prior-Egerton, solutions marketing manager for The Logic Group.

In a recent article in Techworld, Visa reported that contactless payments had increased by 500% over the past 12 months, accounting for some 51 million consumer payments in the UK alone. Furthermore, research into the mobile consumer, conducted by Ipsos MORI, found that frequent mobile users are capitalising on the technology to make their retail journeys both easier and more efficient.

Whilst still something of a niche, the trend for mobile payments is growing and it highlights the need for merchants to evolve their in-store environments to meet the needs of an increasingly omnichannel customer.

However, to claw back high street sales, retailers need to deliver more than just a digital presence as e-retail is blurring the lines between the real and online world. Showrooming is becoming more prevalent on our high streets, an outcome of the recessionary woes and consumers are continually looking for ways to make their money to go further. To combat this, the retailer needs to take the fight to the shop floor by using the same technology to counter the e-retails onslaught.

Today's technological counter measure is the Mobile Point of Sale (MPoS), which this gives retailers greater mobility to engage and interact with their customers in-store; checking stock availability and empowering their staff to make real time price-matching and promotional decisions, whilst having the capability to take payments without the need for the customer to go back to the cashier's desk.

"MPoS will evolve, providing retailers and consumers with a more streamlined shopping experience as the PoS moves onto the changing cubical wall and price matching becomes automated," predicted Prior-Egerton.

To optimise the integration of multichannel payment methods, businesses require a short and a long term strategy. In the short term, mobile loyalty solutions can be used to introduce and familiarise consumers with new mobile payment methods. And even now there is clear demand for higher value contactless payments (i.e. those of more than £20).

For the retailer to meet the on-going payment challenges a trusted payment service provider (PSP) is essential. On one hand, the PSP needs to able to support a range of ways to pay (both multichannel and multi-currency), and on the other hand, it must product data security to maintain consumers' confidence in new technologies such as mobile payments.


Sources: The Logic Group /
The Marketing Factbook.
Copyright © 2013 - 2025 The Marketing Factbook.

    Categorised as:

  • Customer Experience
  • Customer Loyalty
  • Knowing The Customer
  • Marketing Know-How
  • Marketing Technology

Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format.

With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

You'll learn to sell yourself, sell your products, and sell your brand on the internet, writing high-conversion landing pages, social media posts, and more. You'll start attracting customers you didn’t even know existed, and learn the top trade secrets for customer retention.

You'll become a lean, mean selling machine. See how the experts do it and learn to adapt what they've done for your own profit. You'll learn to write strong, powerful, effective sales copy, whether it's for a sales script, sales letter, flyer, insert, advert or just about anything else.

You'll learn how to sell whether you're selling by telephone, by mail, or even meeting prospects face-to-face. You'll find out how to size them up, present yourself, nail down their true needs, close the sale, and learn to tackle the tricky ones.

You'll discover the biggest secrets of successful direct mail sellers, sales letter writers, and how to segment and choose the right prospects for each campaign.

Get it on Amazon (Kindle/Print)
 
Copyright © 2001-2025 Peter J. Clark