How Mobile Wallet Can Increase Your Mobile Conversions

Guest Post By Sophorn Chhay

One of the major reasons that consumers hesitate to buy a product or service via their mobile phones, tablet or other device is that they are concerned about someone hijacking their sensitive personal information. Mobile security protocols, although rapidly increasing, have historically been weaker than firewalls and other protection on business and personal computers. One way to stop this concern from derailing your mobile marketing strategy is to make it easy for your customers to use a mobile wallet program. With a mobile wallet, no sensitive information is exchanged, so the possibility of fraud is virtually eliminated.

What is a mobile wallet?

Mobile Wallet systems allow consumers to complete a financial transaction without having to transmit sensitive personal and credit or debit card information. Although there are several different models, they all operate by completing a financial transaction using a third party vendor with whom the customer already has a relationship. This is often a bank or telecommunications company, but it can also be a cloud-based service. The customer pays for your product or service by texting a SMS message to the third party who transfers the money to your account. The customer is billed on his or her telephone or bank statement.

Although security is the number one reason why mobile wallets are a good idea for both consumers and merchants, it isn't the only reason to embrace this technology. Being able to just wave a mobile device or let a cashier scan their watch makes it easy to complete transactions, allowing you to serve more customers and reducing each customer's wait time.

Allowing customers to pay with a mobile wallet system can also help you attract more affluent, tech savvy customers, those with Apple watches and other devices that mesh well with mobile wallets.

Good uses for mobile wallet in e-commerce

Approximately 56 percent of American consumers own a smart phone and around 36 of all web traffic comes from mobile devices. If you haven't made mobile marketing a key part of your overall market strategy, you're likely losing ground to your more mobile-friendly competitors. Unsure of how to make good use of mobile wallets to enhance your mobile marketing?

We have a couple of suggestions:

1. Offer e-coupons.

Mobile wallets are not just about paying for goods. They can be used to transmit and redeem e-coupons and other special offers. And, e-coupons are much more likely to be used than traditional paper coupons that can easily be lost or destroyed. Approximately 50 percent of such e-offers are used.

2. Start a customer loyalty program for your mobile customers.

More than 90 percent of customers feel they get value from belonging to such loyalty programs. Use them to invite good customers to special events, offer value-added offers or make them the first to know about new products and services.

3. Inform your customers of your new mobile wallet capability.

Just being able to process payments via mobile wallets isn't enough. Your customers need to know about your new business savvy. Use this new capability as a reason to reach out to your tech-savvy customers and invite them to your store or website.

Adding mobile wallets to your business arsenal of marketing weapons doesn't have to be difficult. Like credit card processors, you sign up for a service and pay a fee based on the number of transactions and the amount of money that changes hands. However, since mobile wallets can help you attract more customers and process those customers more quickly, you'll almost certainly see a boost in your bottom line.

 

What's Next?

How do you ensure that your customer is getting the best mobile experience possible when interacting with your brand? What do you think of what I've covered so far? Reach out over LinkedIn.  

Quantified Media is the New Wave of Business

Post By Janet Arvia

How can you excel at your job with a blindfold on? Unless you’re some kind of masked pirate, being kept partially in the dark is unlikely to enhance your work performance. In order to accurately hit business goals, savvy marketers and competitive media buyers must clearly envision their targets and accurately gage their efforts by identifying and measuring Key Performance Indicators (KPIs).

Know the ropes

KPIs help enterprises evaluate the effectiveness of improvement initiatives and measure business growth by tracking customer loyalty, social media engagement, web visits, conversion rates, open rates, and profit and loss margins. Seeing which endeavors are leading or lagging is essential when setting up strategies that determine whether to stay the course or jump ship yet many business owners are making these decisions without a compass. 

Sink or swim

Across the pond, 49% of small and medium-sized businesses don’t identify KPIs. According to a survey conducted by Geckoboard, 39% of these British businesses failed to meet all of their goals last year since 50% of staffers said their overall performance suffered from not being apprised of key metrics. Companies in the states have also been slow to make the most of KPIs even though the practice of quantifying media has been around for decades.  

The tide is turning

With the advent of trackable digital media and performance-based software, business as usual will soon become a thing of the past as traditionally overpriced brand marketing methods disappear. At least that’s what Gabe Leydon says. During an interview at Code/Media’s 2016 conference, the Machine Zone CEO explained that the new wave of performance marketing means agencies will need to arm their clients with detailed KPIs. As a result, media buyers will become more sophisticated and gain deeper insights into the behavior, needs and wants of their customers while managing their own expenses for a favorable ROI.

Get onboard

To broaden your business horizon and optimize your opportunities it’s wise to enlist a reputable analytics firm and performance marketing agency. Oplytic can deliver accurate KPIs so you can monetize your marketing and social networking efforts, measure your risk and get your company running in ship-shape.

Oplytic Recognized As Top Mobile App Agency

Post By Janet Arvia

A lot of things happened this month: Shakespeare turned 400; the Chicago Cubs won their Opening Day (at night); and Moby Affiliates named Oplytic among the top app install networks of 2016.

Batting a thousand

To make the list, the mobile advertising marketplace singled out companies successfully delivering app installs and user networks and platforms with app installs that offer either a CPI (cost-per-install) model or take a CPC (cost-per-click) or CPM (cost-per-mile) approach with advertisers. Although CPM and CPC are widely used, the equally popular CPI and CPA models have proven more efficient for app marketers since they include ROI analytics.

Cover your bases

Oplytic’s CPI/CPA business model empowers marketers to calculate ROI from app install ads and track the profits generated from each app user with regards to a specific ad or marketing source -- down to the individual user. As a result, CPI-based app install ads have become today's heavy hitters. They fetch higher earnings than other kinds of mobile ads and contribute more to mobile ad revenue.

The big leagues

Last year’s Business Intelligence predicted ad revenue from mobile app installs will climb to 7 billion in the U.S. by 2019. Presently Facebook scores on the mobile ad market thanks to mobile app install ads. In fact, the reason Facebook, Twitter and Google are major players on the mobile app install driving platforms market is due to targeted app install ads. Perhaps that’s why Facebook App Install Ads, Twitter App Install Ads, Google AdWords App Campaigns have received a place next to Oplytic on the 2016 Moby Affiliates list.

Play ball!

To join these CPI/CPA MVPs, touch base with Oplytic at 312-465-1656 and up your mobile app install game today.