How To Engage Customers with a Mobile Wallet

How To Engage Customers with a Mobile Wallet

If you’re not already using the mobile wallet app on your smartphone, you’re in the minority.

Apps such as Apple Wallet or Google Pay transform traditional, physical vouchers and coupons into digital files. And thanks to the omnipresence of smartphones, these mobile wallets are becoming more and more popular with consumers. In a recent study from Roy Morgan, nearly three-quarters of Australians said they’re embracing digital payment solutions

Mobile wallets will only increase in popularity in the years to come, with 64 per cent of all consumers predicted to be using them. Reaching potential customers on the device that’s by their side all day long is a no-brainer.

Here are four ways you can use mobile wallets to engage your customers:

1) Reward Brand Loyalty

Research shows that customers are 77 per cent more likely to shop with brands that have a loyalty program in place than brands without one. Rewarding a shopper’s allegiance to your brand shows that you appreciate them as a customer, forging a long-term relationship and encouraging them to recommend you to others. The easiest way to do this is by creating a digital loyalty program.

Unlike easily misplaced plastic loyalty cards, consumers store their digital loyalty card securely in a mobile wallet, offering a seamless shopping experience. Because it’s stored on their smartphone, customers can check details, like how many loyalty points they’ve earned, any time they like.

As an example, Starbucks Rewards is a free-to-join loyalty program that allows members to earn ‘stars’ for each drink purchased. Designed for fully-integrated, wallet-free payment, Starbucks Rewards offers members a free drink for every nine stars, a welcome offer and invitations to exclusive promotions and events.

By creating a mobile loyalty program, you can reward long term customers while easing new customers into using mobile wallets with an appealing offer, all while keeping your brand top of mind.

2) Provide a One-Of-a-Kind Shopping Experience

When a customer signs up to a loyalty program, they give you access to a wealth of data, ranging from basic information like age and where they live to what products they like to buy and how much money they spend with your company.

You can use all this information to create distinctive offers that are specific to each individual consumer, rather than relying on bland, generic messaging. Some common examples of personalised offers include sending out a birthday coupon or offering a shopper a gift card that coincides with their loyalty membership anniversary. You can also get more sophisticated and use their purchase history and interests to craft highly relevant messaging. Best of all, these unique offers are stored right in their smartphone, ready to be used whenever they want.

Not only are mobile wallets great for retaining existing customers, you can also use them to reach lapsed customers. For example, if you notice a customer hasn’t engaged with your company in some time, you can send them a customised offer based on their shopping habits in the hopes of re-engaging them.

3) Give Your Customers A Little ‘Push’

While countless big-budget companies have invested in their own mobile app, you might not don’t the money or the resources to build a custom app. Luckily, mobile wallets let you communicate directly to a customer with the in-built wallet in their smartphone.

These ‘lightweight apps’ let you send push notifications to a customer’s lock screen and make it easy for them to quickly engage with an offer or open their loyalty account. You can use push notifications to remind customers about a special offer that expires soon, or prompt them to use unredeemed loyalty points.

Many brands use push notifications for personalised messaging, like birthday offers and vouchers to celebrate a membership anniversary. But push notifications work best for promoting a time-sensitive promotion, as they add urgency to the offer and persuade consumers to take immediate action.

4) Right Time, Right Place

Great marketing is all about reaching the right people at the right time. Nine out of ten marketers say location-based advertising and marketing has boosted sales and driven customer engagement.

Using geo-targeted push notifications with your mobile wallet strategy can grab attention and drive traffic to your brick-and-mortar stores. Location-based notifications alert consumers when they’re close to one of your physical locations and provide the perfect opportunity to remind them about unused vouchers or timely, in-store-only promotions.

Some companies have gone one step further and are using geofencing technology to create interactive and insightful experiences. For example, Tourism Australia has partnered with Alipay to create the Sydney City Card, an interactive map of Sydney that highlights iconic destinations to Chinese tourists. Built on the Alipay platform, the program alerts tourists when they’re close to one of these locations and allows them to pay for entry with the same app.

Thanks to their versatility and ubiquity, mobile wallets provide you with numerous ways to communicate directly to your audience via their smartphone. Get right to the heart of your audience and cultivate a loyal, highly-engaged following.

Looking to find out more about the power of mobile wallets? Sign up to TractionNext’s Mobile Wallet Crash Course and start your marketing transformation today.

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