Digital Marketing With The Mobile Wallet
In this video: Paul Tomes, Co-Founder and CEO of PassKit, shares the secrets to building Mobile Wallet Technology and Capabilities, so you can fully utilise this new, fast growing, highly effective marketing channel.
Beginning of Transcript (not able to fit full transcript in this info box):
Hi Paul Tomes here – the Co-Founder and CEO of PassKit and a very warm welcome back.
Thanks for watching my last video and thank you so much for your feedback and questions. I am so pleased you found value.
Actually, I’ve been inundated with feedback and questions. The number one question I received is “what have you done Paul to take advantage of the mobile wallet opportunity and how can I do the same”.
And so that’s what I want to respond to today.
So sit down, put your headphones on or turn up the speakers and enjoy the video.
Now – before I jump into the how let’s just remind ourselves why.
1. Mobile Wallet is delivering value for marketers TODAY.
2. In the next few years, mobile wallet will become the preferred marketing channel of choice to engage consumers through their smartphone device.
3. Marketing leaders need to look at the mobile wallet potential beyond payments and develop contextual offerings.
In the last video I mentioned how Apple and AliPay, among others, are best placed to play key roles. Their mobile wallet platforms offers a huge global reach in comparison with even big banks like CitiBank, Wells Fargo or HSBC, which have millions of consumers all around the world.
Apple’s Passbook is a standard app now in more than 700 million devices worldwide. And it’s an app that cannot be deleted. Apple has become a mobile wallet enabler. It benefits from the support and marketing of financial institutions and is perceived as less of a disintermediation threat than PayPal.
Amazon is not yet in a position to disrupt the mobile wallet ecosystem and while Google Wallet offers interesting nonpayment features for marketers it still lacks merchants’ support, consumers’ trust and remains restricted to the US market.
No matter who wins the mobile wallet war, marketers should take advantage of this emerging opportunity to create a brand presence on their customers’ mobile devices.
Many players are already developing integrated mobile wallet apps, sitting at the crossroads of online and offline marketing and adding value beyond payments.
Marketing leaders must develop the branded content they want their customers to save and manage in these mobile wallet applications. Marketing leaders will benefit from mobile wallets if they tie together loyalty programs, coupons, product discovery, gift cards, and promotions to create powerful and new brand experiences in the mobile moments of their customers.
By now, you should know why this is important for you, and why you need to take action immediately.
If you think you can afford to wait, then go back and watch my first video or start trawling through the wealth of publicly available information about the mobile wallet as the new marketing channel. Forrester, Quora, Forbes, Linkedin are all good places to start.
The critical first step is you need to believe and you need to vision the future where consumers the world over rely on mobile wallet in the same way they rely on email and internet browsers today.
The next step is to take action.
Having the vision is obviously not going to allow you to capitalise on this white hot opportunity. And to help you I am going to share what we did to turn this vision into a reality.
Our action started in 2012. In fact our action started quite a few years before this; when we first built a scalable cloud infrastructure using Amazon Web Services, enhanced lean process engineering capabilities and culture, developed rest based web services, and enhancing and deploying efficient methods to uncover customers needs and create consumer and business value. But the day the assets we built came together – and everything we had invested in, came together to enable mobile wallet engagement was on the day that Apple released Passbook to the developer community. That day was June 12, 2012. I remember it well.
Since that day, let me share what we’ve done and what we’ve learnt so you can benefit.
Please sign up for the webinar below and I look forward to speaking with you again soon.