The Mobile Wallet Opportunity is Crystallizing
Published on 27 May 2015
In mobile, we’re used to the next big thing taking marketers’ imagination by storm. We saw that happen with apps, then geofencing, then beacons and now smartwatches.
The introduction of Apple Passbook (now Apple Pay) in 2012, preceded by Google Wallet (now Android Pay) in 2011, sparked curiosity and experimentation, but failed to ignite the same groundswell of enthusiasm. The one exception might be airlines where any traveler using a digital wallet boarding pass is loathe to return to paper e-tickets and airport check-in kiosks.
Eliminating paper and plastic to avoid Constanza’s wallet required fundamental shifts in decades-old consumer behavior—difficult for any of us regular business-types to enact.
Now, however, industry giants are investing heavily to promote mobile payment solutions, and support is building for a future where all you need to interact with businesses is your phone or smartwatch. Having everything from payment to digital discounts, loyalty rewards and more, all integrated on the devices you never leave home without, demonstrate clear and present value for a new world of digitally enabled consumerism. In fact, the number of mobile coupon users is expected to nearly double to more than one billion by 2019.
We are now seeing more brands turn to digital wallets to grow their mobile surface area and create streamlined experiences that drive new levels of reach, relevance and immediacy with customers and prospects alike.
How REI Leveraged a Dynamic Coupon Through Mobile Wallet to Boost Sales
For its Anniversary Sale during Memorial Day weekend, REI implemented a mobile wallet campaign offering a best-in-class example of the type of streamlined wallet experiences that can be delivered across digital and mobile engagement touchpoints.
REI distributed these campaigns through a variety of digital channels, including a notification delivered to app users. Users clicking on the notification were transported to a rich in-app message center page to add the coupon to Apple Passbook—an end-to-end, seconds-long, three-click experience.
Best of all, REI was then able to message everyone that installed the pass—not just app users—sending reminders.
Once the coupon expired, REI provided a clear signal that they’ll take advantage of dynamic wallet updates to continue to engage its new audience over time.
Check out a quick video of our Twilio collaboration to see just how easy it is for businesses to go beyond apps and launch effective digital wallet campaigns.