5 tips for Mobile Wallets Customer Loyalty Success
Mobile wallets are online money management tools used for making currency transactions on the web; receiving and making payments, making online purchases or holding your money in suspense for the next transaction. They are the virtual or digital versions of your credit and debit card, as well as your wallet (cash); current statistics in the US show that 7% of mobile phone users are already using them and a further 33% planning to get on board.
So, how can you increase customer loyalty through mobile wallets? Here are 5 tips for mobile wallets customer loyalty success:
Tip 1: Customer Satisfaction
For loyalty, nothing beats customer satisfaction; when they have a good shopping experience with you that meet or exceed what is promised or their expectations, they will always come back and refer others to you as well. Did you know that the 4th most mentioned reason for brand or customer satisfaction is the availability of a loyalty program! There you go- let customer satisfaction go hand in hand with your mobile wallet service.
Tip 2: Loyalty cards
Give loyalty cards to your customers and introduce a point system where for every transaction using the mobile wallet, points are awarded and then a reward is given one a certain number of points is accumulated or reached. Digital loyalty cards cannot be forgotten since it will be accessible on phone or computer. A survey by PassKit found that 9 of every 10 customers with Smartphones want their loyalty cards directly into their phones, while 49% of those using mobile wallets spend more after joining a loyalty program.
Tip 3: Push notifications
These are mass or group lock screen messages targeted at mobile phones. You can send them to your customers and those linked to your business to remind them of offers, products, new arrivals etc. to increase engagement, following and loyalty; remind them of points accumulated, redeemable points and respective rewards for using mobile wallets.
Tip 4: Digital coupons
Just like traditional coupons, digital coupons will work with mobile wallets. Every customer wants a deal and discounts or offers will increase loyalty; through mobile devices, loyalty is projected even further because of the more direct communication and person communication avenues.
Tip 5: Geofencing
This is GPS software that will virtually track your customers and create boundaries of where they are for you to concentrate in; you will be able to target customers close to you and is more effective when used alongside push notifications to send lock screen messages to the target audience.
Use the push notifications to remind them of your close proximity, products, deals, and create offers redeemable within a certain time period for example ‘those who make purchases between 2 pm and 5 pm will receive a free point for every $10 spent above an initial $50.
Implement these 5 tips for mobile wallets customer loyalty success and see how fast you customer base grows and realize and exponential increase in return customers, and of course a climb in revenues.