With a new name, logo, website, stock tickers & corporate messaging launched last week and more exciting projects on the way, here are some key...
8 Reasons Wallet Passes are the Future of Customer Engagement
App downloads have fallen 38% in the last 6 years, and 21% of users abandon apps after just one use. The next evolution is Wallet passes.
There is no denying that apps have changed the way we live, but the age of apps is ending, with app downloads falling 38% in the last 6 years. Users don't want more clunky applications taking up storage space, slowing down their phones, and getting lost in folders for months on end. With most users only using 9 apps on average, it's no wonder that 21% of users abandon apps after just one use.
Wallet Passes are now taking over the way brands deliver value and engage with customers and partners. Wallet passes are also driving digital transformation for organizations who are struggling to deal with mountains of paper, who want to replace paper or plastic membership cards to save money, and reduce their carbon footprint, and who want to improve their customer experience at the point of sale and across all the touchpoints they have.
Here are 8 reasons why an increasing number of businesses opt to use wallet passes instead of going through the hassle of app development.
- Cut down on development time
With DIY platforms like Passcreator by Fobi, businesses can build a Wallet pass and have it usable in less than 30 minutes. Even when the necessary functionality is too complex for a DIY platform, PassPro by Fobi can have an entire interactive wallet pass ready to distribute in a couple of weeks. Compare that to the 3-9 months it can take to build an app, and it’s clear wallet passes are a no-brainer. With maintenance time also in short supply, your company can get back to focusing resources on engaging customers with real-time personalized campaigns rather than building engagement tools.
- Spend less
Developing an app can cost your business anywhere from $40k to $300k. But costs don't stop there; annual maintenance adds roughly $20k-$60k, and the upkeep costs are not negligible. On the other hand, Wallet passes cost a fraction of the price with even better engagement, download, and retention rates.
- Free up Storage Space
Users constantly find themselves looking for which App to delete to free up space on their phones. Each App takes up an average of 34 MBs on your phone. With Wallet passes, each pass is less than 10 KB, so users are less likely to delete them and more likely to continue engaging with the pass.
- Add exciting features easily
Have you ever wanted to add exciting features to your apps but struggled to find the technical support or can't afford the costly upgrades to make it happen? Implementing new features on wallet passes can be done in just a couple of minutes.
And don't think that the reduced costs equal reduced functionality. For example, a PassPro Wallet pass can include features such as Near Field Communication (NFC) tap functionality, location-based notifications, segmented engagement, customized landing pages, centralized information distribution for press releases, videos, surveys, and even enterprise-level analytics.
- Build one pass compatible with both Android and Apple
While there are hybrid builds for apps that allow companies to cut down on development costs, companies that want to drive great engagement need to build two apps: one optimized for iOS and one optimized for Android. Wallet pass platforms enable companies to build one pass compatible with both Android and iOS, cutting development time and costs in half.
- Don't depend on the app stores
With updates and approval processes mandated by app stores, it can be an exhausting and ongoing process to launch and maintain an App. Wallet passes enable you to list your pass instantly, and users take seconds to download it, no longer waiting for app stores and their difficult processes before you can start engaging with your customers.
- Send push notifications with automatic lock screen access
Wallet passes make it easier to reach your customers directly on their lock screen. App users have to manually enable push notifications, lowering the number of customers an organization can reach. However, Fobi Wallet passes for iOS automatically have push notifications enabled 24/7.
- Avoid app store commissions
Unlike App Stores, Wallet pass platforms like Passcreator and PassPro enable businesses to sell passes with no commissions taken on their sales. More profit is always a win in our books.
The bottom line is that for many companies, apps aren't worth the hassle. With mobile app development prices increasing and the use of apps declining, businesses are looking for the next profit-maximizing, digital solution. Being cost-effective and time-efficient while still providing the same or higher value than an app, wallet passes have proved to be the future of mobile engagement.
Interested in implementing Wallet passes? Click here for more information about PassPro and Passcreator and get started with your own Wallet Passes.