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Would the Real Mobile Wallet Please
Stand Up? (or at least stand out?)
iMedia Breakthrough Summit – Mobile Bootcamp
October 20, 2013
Dr. Phil Hendrix
Director, immr and Gigaom Research analyst
www.immr.org
1 (770) 61211488
phil.hendrix@immr.org
@phil_hendrix
#iMediaSummit

1
More Information in these Reports
Engaging Connected Consumers

@phil_hendrix
#iMediaSummit

Mobile Shopping

Download at www.immr.org/reports.html

2
Topics for Discussion

Topics for Discussion

Mobile Payments, Wallets & M1commerce
Frameworks
PEERSM
8 Layers of Location
M4M (Metaphors for Mobile)
Implications/Strategies for Brands
@phil_hendrix
#iMediaSummit

3
About me
Research Consultant
Research based Strategy for
Very New Products and Markets

Advisor – Startups
• Product Market Fit
• Value Proposition
• Growth strategy

Catalyst
• Innovation
• Strategy

Analyst
• Emerging Technologies
• Mobile/M Commerce
• Location, Context

Previously
Mercer

@phil_hendrix
#iMediaSummit

Diamond Cluster

4
Mobile Payments
and
Mobile Wallets
@phil_hendrix
#iMediaSummit

5
Drivers of M1Payments
Speed/
Ease of Use
Awareness/
Familiarity
Value to
Consumers

Merchant
Acceptance

Mobile
Payment

Unique
Benefits

Value to
Merchants

Incentives
to Adopt/Use
Security

@phil_hendrix
#iMediaSummit

6
M1Payments Unique Benefits
Speed/
Ease of Use
Awareness/
Familiarity
Value to
Consumers

Merchant
Acceptance

Mobile
Payment

Unique
Benefits
Authentication
(visual, proximity, etc.)
Digital receipts
Integration w/ shopping,
offers, rewards
Others TBD
@phil_hendrix
#iMediaSummit

Value to
Merchants

Incentives
to Adopt/Use
Security

7
What Will Spur Adoption of M1Payments?

@phil_hendrix
#iMediaSummit

8
Significance
for
Brands

@phil_hendrix
#iMediaSummit

9
Examples

@phil_hendrix
#iMediaSummit

10
“The Remote for Our Lives”

@phil_hendrix
#iMediaSummit

11
A Broader View of Mobile Wallets
Mobile
Marketing
Mobile
Concierge

Mobile
Payment
Mobile
Rewards

@phil_hendrix
#iMediaSummit

12
Mobile Wallet Enabling M1Commerce
Mobile Marketing

Influencing prospective buyers with communications, incentives
Search

Mobile Payment

Operators

Challengers

Brands and businesses rewarding customers via mobile devices
Points

Mobile Concierge

Offers

Enabling payment for goods and services via mobile devices
FIs/Issuers

Mobile Rewards

Advertising

Offers

Experiences

Brands, businesses and TPPs assisting mobile customers

(including shopping)
Information

@phil_hendrix
#iMediaSummit

Recommendations

Assistance

13
Data Fueling M1Commerce

Data

Mobile
Concierge

Mobile
Marketing
Data

Mobile
Rewards
@phil_hendrix
#iMediaSummit

Data

Mobile
Payment
Data

14
Frameworks

@phil_hendrix
#iMediaSummit

15
Wroblewski’s Theorem

Luke Wroblewski

“Anything that can
be connected to the
Internet, will be.”

Philips Hue Bulbs

@phil_hendrix
#iMediaSummit

Nest Learning Thermostat

16
Corollary – “Everything’s a Pixel”
8 Layers of Location

@phil_hendrix
#iMediaSummit

17
Evolving toward Micro1Locations

@phil_hendrix
#iMediaSummit

18
PEER

@phil_hendrix
#iMediaSummit

19
From the 4 P’s to PEER
Learn† &
Adapt

Surprise/
Delight

Remove
Frictions
Reinforce

†

Securely, with full transparency

Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix, immr

@phil_hendrix
#iMediaSummit

20
PEER Strategies
Personalize

Leverage data about consumers and their context to
increase the relevance, timeliness and value of
communications, offers and customer experiences

Enable

Help customers complete tasks and accomplish their
goals by minimizing the risk, time, and effort as they
shop, compare, purchase and use your products

Enhance

Surprise and delight customers by anticipating and
helping them fulfill functional requirements, emotional
needs and aspirations

Reward

Using feedback, encouragement, rewards and social
influence, reinforce customers as they engage in
behaviors that are mutually beneficial

@phil_hendrix
#iMediaSummit

Allows airports to tailor info for
travelers based on profile,
destination

Mini owners can detect other
owners, share tips

Guests can manage experience
(FastPasses, reservations, rides,
etc.)

Allows hotels to personalize
rewards, experiences based on
guest’s social profile

21
M4M
(Metaphors for Mobile

@phil_hendrix
#iMediaSummit

22
More Metaphors for Mobile

Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix

@phil_hendrix
#iMediaSummit

23
Propositions
Consumers Value

@phil_hendrix
#iMediaSummit

24
Frictions, Shoulds and Wants

@phil_hendrix
#iMediaSummit

25
Path1to1Purchase and Ownership

Discover

Buy

@phil_hendrix
#iMediaSummit

Choose

Use

26
Consumers’ Love1Hate Relationship

†

@phil_hendrix
#iMediaSummit

Source: immr Shopping Survey

27
Can Mobile Save Shopping?

Source: If Shopping is Broken, Can Mobile Fix It? Dr. Phil Hendrix, immr
@phil_hendrix
#iMediaSummit

28
Social = Currency

@phil_hendrix
#iMediaSummit

29
Litmus Tests
for
Your Strategy

@phil_hendrix
#iMediaSummit

30
Are You Tuned in to
Consumers’ Digital Signals?

Location

Social

History

Source: Tuning into Consumers’ Digital Signals, Dr. Phil Hendrix, immr
@phil_hendrix
#iMediaSummit

31
Expectations

Are you Engaged? Or Merely Engaging?
KnowK
What
I Like

Who I am…

Where I
am

What I
respond to

What’s
Nearby

What I’ve
bought

What’s
going On

Where
I’ve been

What
I need

Where
I’m going

Source: How SoLoMo is Empowering Consumers, Transforming Shopping and Disrupting Advertising and Retailing, Dr. Phil Hendrix

@phil_hendrix
#iMediaSummit

32
Are You Engaging by Consumers’ Rules?
Personalized
Relevant
Right1time
Rewarding
Source: Drive Revenue and Loyalty by Engaging Mobile and Social Consumers, Dr. Phil Hendrix, immr
@phil_hendrix
#iMediaSummit

33
Are You Tapping into PEER?
Learn† &
Adapt

Surprise/
Delight

Remove
Frictions
Reinforce

†

Securely, with full transparency

Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix, immr

@phil_hendrix
#iMediaSummit

34
Are You Managing
Numerator and Denominator?

Loyalty = f

Customer Benefits
Customer Effort

Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix

@phil_hendrix
#iMediaSummit

35
Are You Enabling Customers?

@phil_hendrix
#iMediaSummit

36
Have You Defined Your
Role(s) in Customers’ Lives?

And Aligned Organization around Role(s)?

Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix

@phil_hendrix
#iMediaSummit

37
Is Your House of Loyalty “Built to Last?”

Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix

@phil_hendrix
#iMediaSummit

38
Are You Doubled Down on Innovation?

@phil_hendrix
#iMediaSummit

39
Are You Making the Right Strategic Bets?

@phil_hendrix
#iMediaSummit

40
Are You Hitting on All 8 Cylinders?

@phil_hendrix
#iMediaSummit

41
More
Info

@phil_hendrix
#iMediaSummit

42
immr – Recent and Forthcoming Reports

@phil_hendrix
#iMediaSummit

43
Bio – Dr. Phil Hendrix
Dr. Phil Hendrix is the founder and director of immr, a research and advisory firm focused on market
opportunities afforded by new technologies, and an analyst with GigaOm Pro. He specializes in helping
organizations evaluate and capitalize on opportunities that are new3to3customers and new3to3market. Dr. Hendrix
has extensive experience uncovering customer needs, identifying triggers and hurdles to adoption, and developing
strategies that unlock market opportunities, both B2C and B2B.
Dr. Phil Hendrix
Director, immr
www.immr.org
+1 (770) 61211488
phil.hendrix@immr.org
@phil_hendrix

As an analyst, Phil focuses on mobile innovation and the implications for companies across industries. He is a
regular contributor at leading industry conferences, including GigaOm’s Mobilize, Structure:Data, Street Fight
(hyperlocal), ad:tech, iMedia Summit, Social3Loco and others. His current work focuses on mobile and its impact on
consumer behavior, especially shopping, M3commerce and mobile payment.
As a consultant and advisor, Phil has led significant engagements with startups and Fortune 100 clients in mobile,
consumer electronics, and related categories, including financial services, transportation, insurance and others. He
works closely with senior management and project teams on key issues, including market sizing, segmentation,
positioning, and branding as well as innovation, user experience, and customer retention. Over the course of his
career, Phil has helped clients conceive and successfully launch dozens of new products, services and businesses.
Before founding immr, Phil was a partner with DiamondCluster (strategy and technology consultancy), founder and
head of IMS (Integrated Measurement Systems), and a principal with Mercer Management Consulting (now Oliver
Wyman). He has held faculty positions at Emory University and the University of Michigan, where he taught courses
in marketing, research, and buyer behavior for MBAs and executives. While at Michigan Dr. Hendrix also held a joint
appointment as a research scientist in the Survey Research Center, Institute for Social Research.
Additional information on immr perspectives and reports prepared by Dr. Hendrix is available at immr and
Slideshare, with additional information available at GigaOm Pro.

@phil_hendrix
#iMediaSummit

44

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Would the Real Mobile Wallet Please Stand Up?

  • 1. Title Would the Real Mobile Wallet Please Stand Up? (or at least stand out?) iMedia Breakthrough Summit – Mobile Bootcamp October 20, 2013 Dr. Phil Hendrix Director, immr and Gigaom Research analyst www.immr.org 1 (770) 61211488 phil.hendrix@immr.org @phil_hendrix #iMediaSummit 1
  • 2. More Information in these Reports Engaging Connected Consumers @phil_hendrix #iMediaSummit Mobile Shopping Download at www.immr.org/reports.html 2
  • 3. Topics for Discussion Topics for Discussion Mobile Payments, Wallets & M1commerce Frameworks PEERSM 8 Layers of Location M4M (Metaphors for Mobile) Implications/Strategies for Brands @phil_hendrix #iMediaSummit 3
  • 4. About me Research Consultant Research based Strategy for Very New Products and Markets Advisor – Startups • Product Market Fit • Value Proposition • Growth strategy Catalyst • Innovation • Strategy Analyst • Emerging Technologies • Mobile/M Commerce • Location, Context Previously Mercer @phil_hendrix #iMediaSummit Diamond Cluster 4
  • 6. Drivers of M1Payments Speed/ Ease of Use Awareness/ Familiarity Value to Consumers Merchant Acceptance Mobile Payment Unique Benefits Value to Merchants Incentives to Adopt/Use Security @phil_hendrix #iMediaSummit 6
  • 7. M1Payments Unique Benefits Speed/ Ease of Use Awareness/ Familiarity Value to Consumers Merchant Acceptance Mobile Payment Unique Benefits Authentication (visual, proximity, etc.) Digital receipts Integration w/ shopping, offers, rewards Others TBD @phil_hendrix #iMediaSummit Value to Merchants Incentives to Adopt/Use Security 7
  • 8. What Will Spur Adoption of M1Payments? @phil_hendrix #iMediaSummit 8
  • 11. “The Remote for Our Lives” @phil_hendrix #iMediaSummit 11
  • 12. A Broader View of Mobile Wallets Mobile Marketing Mobile Concierge Mobile Payment Mobile Rewards @phil_hendrix #iMediaSummit 12
  • 13. Mobile Wallet Enabling M1Commerce Mobile Marketing Influencing prospective buyers with communications, incentives Search Mobile Payment Operators Challengers Brands and businesses rewarding customers via mobile devices Points Mobile Concierge Offers Enabling payment for goods and services via mobile devices FIs/Issuers Mobile Rewards Advertising Offers Experiences Brands, businesses and TPPs assisting mobile customers (including shopping) Information @phil_hendrix #iMediaSummit Recommendations Assistance 13
  • 16. Wroblewski’s Theorem Luke Wroblewski “Anything that can be connected to the Internet, will be.” Philips Hue Bulbs @phil_hendrix #iMediaSummit Nest Learning Thermostat 16
  • 17. Corollary – “Everything’s a Pixel” 8 Layers of Location @phil_hendrix #iMediaSummit 17
  • 20. From the 4 P’s to PEER Learn† & Adapt Surprise/ Delight Remove Frictions Reinforce † Securely, with full transparency Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix, immr @phil_hendrix #iMediaSummit 20
  • 21. PEER Strategies Personalize Leverage data about consumers and their context to increase the relevance, timeliness and value of communications, offers and customer experiences Enable Help customers complete tasks and accomplish their goals by minimizing the risk, time, and effort as they shop, compare, purchase and use your products Enhance Surprise and delight customers by anticipating and helping them fulfill functional requirements, emotional needs and aspirations Reward Using feedback, encouragement, rewards and social influence, reinforce customers as they engage in behaviors that are mutually beneficial @phil_hendrix #iMediaSummit Allows airports to tailor info for travelers based on profile, destination Mini owners can detect other owners, share tips Guests can manage experience (FastPasses, reservations, rides, etc.) Allows hotels to personalize rewards, experiences based on guest’s social profile 21
  • 23. More Metaphors for Mobile Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix @phil_hendrix #iMediaSummit 23
  • 25. Frictions, Shoulds and Wants @phil_hendrix #iMediaSummit 25
  • 28. Can Mobile Save Shopping? Source: If Shopping is Broken, Can Mobile Fix It? Dr. Phil Hendrix, immr @phil_hendrix #iMediaSummit 28
  • 31. Are You Tuned in to Consumers’ Digital Signals? Location Social History Source: Tuning into Consumers’ Digital Signals, Dr. Phil Hendrix, immr @phil_hendrix #iMediaSummit 31
  • 32. Expectations Are you Engaged? Or Merely Engaging? KnowK What I Like Who I am… Where I am What I respond to What’s Nearby What I’ve bought What’s going On Where I’ve been What I need Where I’m going Source: How SoLoMo is Empowering Consumers, Transforming Shopping and Disrupting Advertising and Retailing, Dr. Phil Hendrix @phil_hendrix #iMediaSummit 32
  • 33. Are You Engaging by Consumers’ Rules? Personalized Relevant Right1time Rewarding Source: Drive Revenue and Loyalty by Engaging Mobile and Social Consumers, Dr. Phil Hendrix, immr @phil_hendrix #iMediaSummit 33
  • 34. Are You Tapping into PEER? Learn† & Adapt Surprise/ Delight Remove Frictions Reinforce † Securely, with full transparency Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix, immr @phil_hendrix #iMediaSummit 34
  • 35. Are You Managing Numerator and Denominator? Loyalty = f Customer Benefits Customer Effort Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix @phil_hendrix #iMediaSummit 35
  • 36. Are You Enabling Customers? @phil_hendrix #iMediaSummit 36
  • 37. Have You Defined Your Role(s) in Customers’ Lives? And Aligned Organization around Role(s)? Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix @phil_hendrix #iMediaSummit 37
  • 38. Is Your House of Loyalty “Built to Last?” Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix @phil_hendrix #iMediaSummit 38
  • 39. Are You Doubled Down on Innovation? @phil_hendrix #iMediaSummit 39
  • 40. Are You Making the Right Strategic Bets? @phil_hendrix #iMediaSummit 40
  • 41. Are You Hitting on All 8 Cylinders? @phil_hendrix #iMediaSummit 41
  • 43. immr – Recent and Forthcoming Reports @phil_hendrix #iMediaSummit 43
  • 44. Bio – Dr. Phil Hendrix Dr. Phil Hendrix is the founder and director of immr, a research and advisory firm focused on market opportunities afforded by new technologies, and an analyst with GigaOm Pro. He specializes in helping organizations evaluate and capitalize on opportunities that are new3to3customers and new3to3market. Dr. Hendrix has extensive experience uncovering customer needs, identifying triggers and hurdles to adoption, and developing strategies that unlock market opportunities, both B2C and B2B. Dr. Phil Hendrix Director, immr www.immr.org +1 (770) 61211488 phil.hendrix@immr.org @phil_hendrix As an analyst, Phil focuses on mobile innovation and the implications for companies across industries. He is a regular contributor at leading industry conferences, including GigaOm’s Mobilize, Structure:Data, Street Fight (hyperlocal), ad:tech, iMedia Summit, Social3Loco and others. His current work focuses on mobile and its impact on consumer behavior, especially shopping, M3commerce and mobile payment. As a consultant and advisor, Phil has led significant engagements with startups and Fortune 100 clients in mobile, consumer electronics, and related categories, including financial services, transportation, insurance and others. He works closely with senior management and project teams on key issues, including market sizing, segmentation, positioning, and branding as well as innovation, user experience, and customer retention. Over the course of his career, Phil has helped clients conceive and successfully launch dozens of new products, services and businesses. Before founding immr, Phil was a partner with DiamondCluster (strategy and technology consultancy), founder and head of IMS (Integrated Measurement Systems), and a principal with Mercer Management Consulting (now Oliver Wyman). He has held faculty positions at Emory University and the University of Michigan, where he taught courses in marketing, research, and buyer behavior for MBAs and executives. While at Michigan Dr. Hendrix also held a joint appointment as a research scientist in the Survey Research Center, Institute for Social Research. Additional information on immr perspectives and reports prepared by Dr. Hendrix is available at immr and Slideshare, with additional information available at GigaOm Pro. @phil_hendrix #iMediaSummit 44