As more consumers are taking to their phones for mobile payments, more companies are seeing the business benefits that mobile commerce can offer above and beyond just being a payments platform. Companies that already use mobile payment applications are just beginning to realize the untapped potential of associated marketing and loyalty programs through those applications, and companies that haven’t yet utilized mobile payments are starting to evaluate the added benefits of these platforms. mCommerce applications can provide a unique marketing opportunity that many more companies should be considering.
According to Forrester Research, in-person payments are poised to grow from $4 billion in 2014 to $34 billion by 2019, providing huge growth opportunities for marketing in mCommerce applications. ISOs are discovering that mobile marketing can be an important selling point to their merchants. Mobile marketing enables merchants to offer discounts, display advertising banners, send VIP messages and share reward opportunities directly from the mobile devices that customers use every day. This technology is easy to use and entirely customizable in real time to meet the needs of every business.
Integrating loyalty and rewards programs is one of the most powerful and seamless ways to market to your existing audience. By accepting payments over mobile devices, you can easily track rewards points and deliver discounts with no additional work on the part of consumers. Customers can also track favorite products and personalize their experience with your brand, driving increased brand loyalty and revenues. Companies like Starbucks are ahead of the game in capitalizing on this; Starbucks’ application has added a significant boost to its loyalty program, My Starbucks Rewards, because it makes earning free drinks and perks easier on the customer.
Dave and Buster’s is another example of a great reward system. Through their Charging Station application, you can not only earn rewards, but recharge your power card right on your mobile phone and check your balances. We helped develop this popular app, which has a growing user base of customers and is regularly enhanced increasing capabilities simplifying customer’s activities.
One of the most salient opportunities for mobile marketing is pairing rewards with campus ID card programs and payment applications. Local businesses can integrate with these applications to offer rewards, push coupons and in-app discounts, and allow students to pay with their campus cards while tracking spending. The all-in-one campus application can combine payments with features like dorm-room entry, gym entry, coupons, rewards and brand loyalty programs, all within the campus and the surrounding community.
With these and so many opportunities to drive business through marketing on mCommerce applications, businesses would be remiss if they didn’t implement a mobile marketing strategy. As mCommerce continues to evolve, we’re bound to see this becoming more and more mainstream every day.
For more information on mobile payment applications and integrated reward programs, visit https://payments.apriva.comcontact/.
Karen Coblentz, Senior Director, Mobile Product Management