Title

Would the Real Mobile Wallet Please
Stand Up? (or at least stand out?)
iMedia Breakthrough Summit – Mobile Bootcamp...
More Information in these Reports
Engaging Connected Consumers

@phil_hendrix
#iMediaSummit

Mobile Shopping

Download at ...
Topics for Discussion

Topics for Discussion

Mobile Payments, Wallets & M1commerce
Frameworks
PEERSM
8 Layers of Location...
About me
Research Consultant
Research based Strategy for
Very New Products and Markets

Advisor – Startups
• Product Marke...
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

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

Merchant
Acceptance

Mobile
Payme...
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
#iMediaSu...
Mobile Wallet Enabling M1Commerce
Mobile Marketing

Influencing prospective buyers with communications, incentives
Search
...
Data Fueling M1Commerce

Data

Mobile
Concierge

Mobile
Marketing
Data

Mobile
Rewards
@phil_hendrix
#iMediaSummit

Data

...
Frameworks

@phil_hendrix
#iMediaSummit

15
Wroblewski’s Theorem

Luke Wroblewski

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

Philips Hue Bulbs

@phi...
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
...
PEER Strategies
Personalize

Leverage data about consumers and their context to
increase the relevance, timeliness and val...
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 P...
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
#iMediaS...
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...
Expectations

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

Who I am…

Where I
am

What I
respond to

What’s
Nea...
Are You Engaging by Consumers’ Rules?
Personalized
Relevant
Right1time
Rewarding
Source: Drive Revenue and Loyalty by Enga...
Are You Tapping into PEER?
Learn† &
Adapt

Surprise/
Delight

Remove
Frictions
Reinforce

†

Securely, with full transpare...
Are You Managing
Numerator and Denominator?

Loyalty = f

Customer Benefits
Customer Effort

Source: Raising the Bar – How...
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 – Ho...
Is Your House of Loyalty “Built to Last?”

Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty w...
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 marke...
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Mobile Commerce: "Will the Real Mobile Wallet Please Stand Up (or at least Stand Out)?”

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Mobile Commerce: "Will the Real Mobile Wallet Please Stand Up (or at least Stand Out)?”

  1. 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. 2. More Information in these Reports Engaging Connected Consumers @phil_hendrix #iMediaSummit Mobile Shopping Download at www.immr.org/reports.html 2
  3. 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. 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
  5. 5. Mobile Payments and Mobile Wallets @phil_hendrix #iMediaSummit 5
  6. 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. 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. 8. What Will Spur Adoption of M1Payments? @phil_hendrix #iMediaSummit 8
  9. 9. Significance for Brands @phil_hendrix #iMediaSummit 9
  10. 10. Examples @phil_hendrix #iMediaSummit 10
  11. 11. “The Remote for Our Lives” @phil_hendrix #iMediaSummit 11
  12. 12. A Broader View of Mobile Wallets Mobile Marketing Mobile Concierge Mobile Payment Mobile Rewards @phil_hendrix #iMediaSummit 12
  13. 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
  14. 14. Data Fueling M1Commerce Data Mobile Concierge Mobile Marketing Data Mobile Rewards @phil_hendrix #iMediaSummit Data Mobile Payment Data 14
  15. 15. Frameworks @phil_hendrix #iMediaSummit 15
  16. 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. 17. Corollary – “Everything’s a Pixel” 8 Layers of Location @phil_hendrix #iMediaSummit 17
  18. 18. Evolving toward Micro1Locations @phil_hendrix #iMediaSummit 18
  19. 19. PEER @phil_hendrix #iMediaSummit 19
  20. 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. 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
  22. 22. M4M (Metaphors for Mobile @phil_hendrix #iMediaSummit 22
  23. 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
  24. 24. Propositions Consumers Value @phil_hendrix #iMediaSummit 24
  25. 25. Frictions, Shoulds and Wants @phil_hendrix #iMediaSummit 25
  26. 26. Path1to1Purchase and Ownership Discover Buy @phil_hendrix #iMediaSummit Choose Use 26
  27. 27. Consumers’ Love1Hate Relationship † @phil_hendrix #iMediaSummit Source: immr Shopping Survey 27
  28. 28. Can Mobile Save Shopping? Source: If Shopping is Broken, Can Mobile Fix It? Dr. Phil Hendrix, immr @phil_hendrix #iMediaSummit 28
  29. 29. Social = Currency @phil_hendrix #iMediaSummit 29
  30. 30. Litmus Tests for Your Strategy @phil_hendrix #iMediaSummit 30
  31. 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. 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. 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. 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. 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. 36. Are You Enabling Customers? @phil_hendrix #iMediaSummit 36
  37. 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. 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. 39. Are You Doubled Down on Innovation? @phil_hendrix #iMediaSummit 39
  40. 40. Are You Making the Right Strategic Bets? @phil_hendrix #iMediaSummit 40
  41. 41. Are You Hitting on All 8 Cylinders? @phil_hendrix #iMediaSummit 41
  42. 42. More Info @phil_hendrix #iMediaSummit 42
  43. 43. immr – Recent and Forthcoming Reports @phil_hendrix #iMediaSummit 43
  44. 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

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