Vancouver, BC, July 3, 2019 – LOOP Insights Inc. (TSX.V: MTRX) (“LOOP” or “the Company”)…
Mobile Marketing Showdown: Apps Vs. Wallet Passes
The Year of Mobile…
The Year of Mobile Marketing
2020 has certainly accelerated the world’s digital transformation; one industry that has been particularly affected is retail. Although storefronts are reopening their doors, contactless technology is essential for remaining competitive. Paper receipts, promotions, and cash payments are all being left behind as we enter this new normal.
It’s got a lot of business owners thinking: should I build an app for my brand? Almost everybody owns a phone, so an app would be an effective way to engage customers, build loyalty, and increase sales…right?
Mobile Apps Struggle with Adoption
That’s where the challenges start—competing with big brands to claim space on users’ phones. More than 50% of smartphone users in the US do not download any new mobile apps each month (Statistica); and the average mobile phone user spends the vast majority of their time in just a few apps, which are owned by major tech companies (see graph below). You’re kinda working with a tough crowd.
Even if you do score a download, a 2018 study (Adjust) suggests that users tend to keep an app for just under six days before losing interest and uninstalling it! Why? Lack of storage, spam, poor user experience, and low perceived value.
But hey, if you’ve thought about building an app, you’re on the right track; mobile marketing is very important for your digital transformation. So, have you heard of mobile wallets?
Mobile Wallet Passes: No Downloads Required!
A mobile wallet is a digital version of your wallet—storing credit and debit cards, coupons, tickets, and reward cards information. It allows for easy, contactless usage in brick and mortar retail environments.
Mobile wallets are a realistic mobile marketing solution. Most smartphones have mobile wallets pre-installed in them, so there’s no need for a download—getting you over the first major hurdle!
So, what can they do? Pretty well anything an app can do!
- Conducts payments
- Pushes dynamic promotions
- Hosts loyalty programs
- Stores and scans mobile tickets
- Delivers push notifications
- Does not require a WiFi connection
- Offers top-tier security and heavy encryption
- Can seamlessly integrate into current apps/loyalty programs
Sometimes you have to see it to believe it! If you’re interested in mobile marketing using wallet pass technology, check out this video on Loop’s solution:
Still interested? That’s what we like to hear! Let’s chat.