What Are Mobile Wallets - Digital Marketing At It’s Best!
What Is A Mobile Wallet?
A Mobile Wallet is the summary term for the native apps, “Apple Wallet” and “Google Wallet” built into all iOS and Android devices. They require no extra download or sign-up by customers to use.
While Apple Wallet and Google Wallet are best known for holding consumers’ credit cards and enabling contactless mobile payments, they offer much more than just a digital payment option at checkout.
With Mobile Wallet, coupons, loyalty membership cards, boarding passes, event tickets, gift cards, and other items one might find in their back pocket or purse, are instead housed and organized as “passes” in a single location – a person’s mobile device – where they can easily be found and used.
Unlike physical versions of the said examples, their digital counterparts are impossible to lose track of: once a mobile wallet pass is saved to a user’s device it remains in their mobile wallet unless they take action to remove the pass.
And like any other mobile app, you can send notifications to consumers' lock screens to remind them to take an action or provide them real-time updates.
Important Mobile Wallet Features to Pay Attention To:
1. Timeless and Ever-Present on the Phone
When a mobile wallet pass is added to a mobile device, it typically stays within the consumer's mobile wallet. This grants you a continuous presence in the place where your customers are constantly engaged - their phones. Essentially, obtaining a mobile wallet pass from your customers establishes a significant edge over your competitors. Moreover, as these passes usually require manual removal by the user, they are rarely, if ever, deleted.
2. Continually update mobile wallet passes with new content.
The mobile wallet pass is fully dynamic, allowing all sections on the pass to be refreshed whenever you want, in real-time. With the capability to update the content on stored mobile wallet passes with new information at any moment, you gain a flexible, enduring, visual method to connect with your customers. Instead of conventional marketing materials, the Mobile Wallet serves as a continuous channel to keep your customers informed and motivated to take action.
3. Stay top of mind with mobile wallet notifications.
Just like a mobile app push notification a user receives on their phone's lock screen, Mobile Wallet can also deliver a variety of notifications, giving you the ability to nudge your customers to act when they might not have otherwise. These notifications can also be personalized down to the individual pass holder based on customer data and behavior.
Don’t consumers turn off their notifications?
Consumers have to go out of their way to turn wallet notifications off. So, if you’re wondering how many consumers with a mobile wallet pass a notification will reach – the answer is pretty much 100%.
Unlike other mobile apps where consumers can turn push notifications on or off for the app as a whole, wallet notifications have to be manually managed by the consumer for each individual pass that’s saved to their mobile wallet.
The different types of mobile wallet notifications include:
- Time-based: Time-based notifications can be delivered manually or can be set up for automated delivery, whichever option best fits your campaign.
- Behavior-based: Behavior-based notifications can be set up to notify an individual customer or segment of customers about relevant information based on their previous activity.
- Programmatic: When the content on saved mobile wallet passes is dynamically updated, you can follow up with a notification alerting your customer there is something new in their mobile wallet to check out.
- Servicing reminders: More than just a promotional channel, Mobile Wallet is also a channel to help keep your customers informed and aware of details like shipping updates.
- Geolocation: This precisely timed notification can be set to automatically send when a user is 100 meters or less away from a physical location as a means of prompting a visit to the nearby location.