Mobile wallets are not just about payments
Mobile marketing firm Vibes has published findings from its annual U.S. Mobile Consumer Report. Of the one thousand smartphone owners in the U.S. surveyed for this year's report, nearly 100% said they would save content to their mobile wallet if it was tailored to them. This suggests that a gap exists between what consumers want from brands and what is currently being offered to them.
Brands can leverage data from the report to enhance customer loyalty. According to the report, consumers are defaulting to mobile more than ever before to engage with brands - through shopping with mobile wallet, receiving personalized text messages and activating customer support through chatbots. Key takeaways from Vibes' U.S. Mobile Consumer Report include:
"The findings show that consumers' increasing use of wallet is for storing loyalty cards, coupons, and tickets - it's not about payments," said Jack Philbin, co-founder and CEO of Vibes. "In fact, the largest consumer use case is currently boarding passes which have been live in Apple Wallet for years and are now supported by Google as well. Simply having an app is no longer enough for brands to cut through the clutter. Consumers want personalization - this is what must be reflected in mobile strategy across channels where consumers spend their time."
Amid large-scale readiness to subscribe to mobile messaging and mobile wallet, consumers have expressed surprising justifications for their adoption. Just one quarter (27%) of respondents said they would adopt mobile wallet if it would make their life easier, by organizing things like offers, loyalty cards or airline boarding passes.
Conversely, more than half (61%) of respondents subscribe to mobile messaging because of incentives or coupons, combined with 55% who subscribe because of loyalty rewards points. Moving forward, brands should leverage loyalty offers more regularly in their messaging, rather than leaning on convenience, to promote further adoption of these channels.
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