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The Mobile Wallet Shift: Non-payment Opportunities for Marketers

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The non-payment side of the mobile wallet is a true game changer for marketers. This new marketing frontier empowers marketers to run mobile wallet programs that take advantage of time, location and …

The non-payment side of the mobile wallet is a true game changer for marketers. This new marketing frontier empowers marketers to run mobile wallet programs that take advantage of time, location and interaction. These powerful new mobile wallet tools like Apple's Passbook and Google Wallet Objects allow marketers to drive in-store traffic and increase average order value.

To help marketers better understand this new opportunity, Vibes fielded the industry's first consumer study focused on the non-payment side of the mobile wallet. This definitive research reveals consumer attitudes and behaviors related to this emerging mobile marketing technology.

In this presentation, you will learn about:
- Benefits of the non-payment side of the mobile wallet
- The mobile wallet disconnect
- High consumer demand
- Preferred distribution and frequency of mobile wallet content
- Five tips to execute successful mobile wallet programs

More in: Technology , Business
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  • 1. The mobile wallet shift: Non-payment opportunities for marketers SEPTEMBER 5, 2013! Mark Tack, Vice President, Marketing, Vibes @MarkTack! Rebecca Bogler, Sr. Director, Product Marketing, Vibes @RBogler! #MobileWallet!
  • 2. 2 ©2013 Vibes All rights reserved. Confidential #MobileWallet! Discussion topics The mobile wallet opportunity for marketers Key insights from consumer research report 5 tips for executing mobile wallet programs
  • 3. 3 ©2013 Vibes All rights reserved. Confidential #MobileWallet! Discussion topics The mobile wallet opportunity for marketers Key insights from consumer research report 5 tips for executing mobile wallet programs
  • 4. 4 ©2013 Vibes All rights reserved. Confidential The non-payment opportunity for marketers! The real opportunity for marketers with mobile wallet is in the non-payment arena It’s the leather! …not the plastic!
  • 5. 5 ©2013 Vibes All rights reserved. Confidential Mobile wallet in action…!
  • 6. 6 ©2013 Vibes All rights reserved. Confidential Mobile wallet evolution and the non-payment movement! 9/19/11 Google Wallet launched – payments focused 9/19/12
 Apple launched Passbook as part of iOS6 6/11/12 
 Apple announced Passbook at WWDC 5/15/13
 Google announced Google Wallet Objects API Soon
 Google will launch new Google Wallet with Objects 9/21/12
 Vibes launched Passbook Beta Program 3/21/13 Vibes launched Pass Manager 5/15/13 Vibes announced Google Wallet Early Adopter Program
  • 7. 7 ©2013 Vibes All rights reserved. Confidential Mobile wallet has proven to be effective for marketers! Sample metrics from early Passbook programs:! §  64% more conversions from Passbook vs. mobile web §  32% of customers who clicked on the offer redeemed it in-store §  24% increase in average order value with Passbook Source: Vibes Passbook Program client metrics
  • 8. 8 ©2013 Vibes All rights reserved. Confidential #MobileWallet! Discussion topics The mobile wallet opportunity for marketers Key insights from consumer research report 5 tips for executing mobile wallet programs
  • 9. 9 ©2013 Vibes All rights reserved. Confidential Methodology! Overview §  Vibes partnered with Equation Research to conduct a quantitative research effort to understand the mobile device usage, shopping habits, behaviors and motivations of the connected consumer. Methodology §  Fifteen minute online quantitative survey §  Respondents recruited via paid national panel sample §  Fieldwork conducted July 16-18, 2013 Sample § Total n=1,000 § Smartphone owners § Ages 18+ § U.S. residents
  • 10. 10 ©2013 Vibes All rights reserved. Confidential What is your definition of a “mobile wallet”?! §  48% of consumers are aware of the non-payment side of mobile wallet Understanding of what a mobile wallet is 27%! 33%! 21%! 19%! A mobile tool that allows me to both pay for items with my phone and store information! A mobile tool that allows me to pay for items directly from my phone A mobile tool that allows me to store information! I have no idea what a mobile wallet is or what it’s used for 48%! Source: Vibes 2013 mobile consumer survey – July 2013 Base: Total n=1,000
  • 11. 11 ©2013 Vibes All rights reserved. Confidential Which mobile wallet feature would benefit you the most?! §  85% of consumers would receive some benefit from non-payment mobile wallets No Benefit Digitizing paper items Organizing on your smartphone   Managing point balances   Time sensitive offers   Automatically updated items   Location aware alerts   22% 19% 13% 13% 10% 7% 15% Mobile wallet benefits 85% perceived benefit! Source: Vibes 2013 mobile consumer survey – July 2013 Base: Total n=1,000
  • 12. 12 ©2013 Vibes All rights reserved. Confidential of smartphone users have noticed any retailer offering mobile wallet specific content in the last six months It’s time for retailers to capitalize...!Consumers want it...! 85% 19%of smartphone users see the non- payment benefits of the mobile wallet Source: Vibes 2013 mobile consumer survey – July 2013
  • 13. 13 ©2013 Vibes All rights reserved. Confidential ! §  59% of consumers say they would have a more positive view of retailers if they started to deliver digitized mobile wallet content. (e.g., loyalty cards, offers/coupons, promotions) Perception of retailer if offered wallet content This would completely change the way I view the retailer in a positive way 25% 34% 38% 3% It would diminish or weaken the perception I have of the retailer It would have no impact on how I view the retailer This would make me like the retailer even more How would your perception of a retailer change 
 if they started to use mobile wallets?! 59% positive! Source: Vibes 2013 mobile consumer survey – July 2013 Base: Total n=1,000
  • 14. 14 ©2013 Vibes All rights reserved. Confidential Do you use mobile wallets for non-payment and what 
 has been your experience?! §  33% of consumers have used mobile wallets for non-payment (e.g., storage of loyalty cards, coupons, etc.) Income levels   26%! Income $100K+ 28%! Income <$50K 25%! Income $50K - 74.9K 21%! Income $75K - 99.9K Base: Total n=1,000; Users n=330 Source: Vibes 2013 mobile consumer survey – July 2013 Non-payment usage   No 67% Yes 33% Non-payment experience 39% 41% 19% 1%Somewhat negative Extremely positive Somewhat positive Neutral/no impact
  • 15. 15 ©2013 Vibes All rights reserved. Confidential What would influence you to try a mobile wallet 
 and what impact would it have?! §  Among the two-thirds of consumers who do not currently use a mobile wallet, 50% say getting better promotions/offers would influence them to try it Perceived impact   49%! Would not impact either way 7%! Negatively impact 44%! Enhance Base: Total n=1,000; Non-users n=670 Source: Vibes 2013 mobile consumer survey – July 2013 Mobile wallet usage   No 67% Yes 33% What would influence you to try 50% 43% If I knew I would get better promotions 
 and offers 25% 23% 23% If it would make my life easier by organizing things If I knew I would get targeted and relevant offers If I thought it would enhance my experience with my favorite brands I am not interested in trying a mobile wallet tool
  • 16. 16 ©2013 Vibes All rights reserved. Confidential §  Email is the most preferred method for receiving mobile wallet content (46%), followed by a retailer text message (20%), and retailer Apps (19%) Preferred method for receiving mobile wallet content Email 46% 20% 19% 11% 4% Text message from the retailer App from the retailer Direct mail Mobile banner advertisement Base: Total n=1,000 How do you prefer to receive mobile wallet content?! Source: Vibes 2013 mobile consumer survey – July 2013
  • 17. 17 ©2013 Vibes All rights reserved. Confidential Quarterly 3% How often would you like to receive mobile wallet content?! §  The majority of consumers (55%) would prefer to receive mobile wallet content weekly Daily 12% Annually 1% Never 12% Weekly 55% Monthly 18% Preferred frequency Base: Total n=1,000 Source: Vibes 2013 mobile consumer survey – July 2013
  • 18. 18 ©2013 Vibes All rights reserved. Confidential Respondent profile! Smartphone Users Smartphone + Mobile Wallet Users Gender!   Male 48% 52% Female 52% 48% Age!   18-24 18% 21% 25-34 33% 44% 35-44 21% 18% 45-54 12% 8% 55+ 16% 8% Income   <$50K 31% 28% $50K - 74.9K 26% 25% $75K - 99.9K 18% 21% $100K+ 21% 26% Smartphone users   Smartphone + mobile wallet users   Base: Total Smartphone Users n=1,000; Users n=330 51%! 65%! Source: Vibes 2013 mobile consumer survey – July 2013
  • 19. 19 ©2013 Vibes All rights reserved. Confidential Respondent profile (cont.)! Base: Total Smartphone Users n=1,000; Users n=330 Smartphone Users Smartphone + Mobile Wallet Users Ethnicity White 74% 65% Asian 11% 17% Hispanic or Latino 9% 12% Black or African American 7% 8% Other 4% 4% Children Yes 43% 51% No 57% 49% Region Northeast 24% 28% Midwest 27% 22% South 28% 27% West 22% 23% Smartphone users   Smartphone + mobile wallet users   Base: Total n=1,000 Source: Vibes 2013 mobile consumer survey – July 2013
  • 20. 20 ©2013 Vibes All rights reserved. Confidential Summary of key findings! Takeaway #1: It’s Early Days
 We are in the very early days of the non-payment mobile wallet transformation. Not surprising since Passbook came out last September and Google Wallet Objects is coming out soon. •  Only 33% of consumers have used mobile wallets for non-payment (e.g., storage of loyalty cards, coupons, etc.) •  33% think of mobile wallets for making payments. 19% have no idea what mobile wallets are •  Only 19% of smartphone users have noticed any retailer offering mobile wallet-specific promotions in the past 6 months Takeaway #2: Demand is High Smartphone users are eager to try mobile wallets for way more than making payments. The need and demand for the non-payment side of the mobile wallet is clear. •  85% of consumers would receive some benefit from non-payment mobile wallets •  59% of consumers say they would have a more positive view of retailers if they started to deliver digitized mobile wallet content •  44% of non-users think a mobile wallet used to store information would enhance the shopping experience Takeaway #3: Retailer Guidance Consumers have spoken about how and why they would use mobile wallets; offering retailers the guidance and direction they need to get started right now! •  Digitizing paper items (22%) and organizing coupons and loyalty cards (19%) are the top benefits •  E-mail is the most preferred method for receiving mobile wallet content (46%), followed by a retailer text message (20%), and retailer Apps (19%) •  The majority of consumers (55%) would prefer to receive mobile wallet content weekly Source: Vibes 2013 mobile consumer survey – July 2013
  • 21. 21 ©2013 Vibes All rights reserved. Confidential #MobileWallet! Discussion topics The mobile wallet opportunity for marketers Key insights from consumer research report 5 tips for executing mobile wallet programs
  • 22. 22 ©2013 Vibes All rights reserved. Confidential 5 tips for executing successful mobile wallet programs! Being precise matters. With location-enabled mobile content, you want the location to be the entrance to the mall, the front door, or the center of your store. Location The dynamic nature of the non-payment side of the mobile wallet enables advanced programs where incentives can change based on time. Time-sensitive offers Updating mobile wallet content drives incremental traffic. Let your loyal customers know when you have new merchandise, sales, events and more. Update your mobile offers… frequently Leverage customer data to create personalized mobile wallet content based on their preferences, behaviors and purchase history. Personalize, Personalize, Personalize, Develop a predefined set of metrics to better understand your brand’s potential with the non-payment side of the mobile wallet. Quantify the results and identify success. Measurement and optimization Here are five tips to help you execute mobile wallet programs that drive engagement, loyalty, foot traffic — and your bottom line
  • 23. 23 ©2013 Vibes All rights reserved. Confidential Catapult offers integrated mobile wallet campaign management! SmartLink Technology! Google Wallet Apple Passbook Other
  • 24. 24 ©2013 Vibes All rights reserved. Confidential Catapult makes mobile wallet easy for marketers!
  • 25. 25 ©2013 Vibes All rights reserved. Confidential Get the report and infographic! Download the Report and Infographic here http://www.vibes.com/mobilewallet
  • 26. Mobile wallet shift: Non-payment opportunities for marketers SEPTEMBER 5, 2013! Mark Tack, Vice President, Marketing, Vibes! Rebecca Bogler, Sr. Director, Product Marketing, Vibes! Thank you!!