Report shows that digital wallets are gaining popularity––as long as consumers see immediate benefits
In the world of retail, the consumer wants to be first––and they respond best to marketing when there’s something in it for them.
At least, these are the findings of the 2016 Mobile Consumer Report compiled by Vibes, a mobile marketing firm. The study showed that consumers deliberately search for marketing campaigns that include some sort of immediate benefit, from easy-to-use coupons to customer loyalty programs.
The study also showed a general trend toward more consumers utilizing mobile wallets, such as Android Pay and Apple Wallet. With convenience at the heart, this technology makes coupons and loyalty programs an upfront benefit––and in some cases, they’re the reason consumers are using mobile wallets at all.
Here are some key findings from the study:
1. More than 80 percent of smartphone users surveyed rank mobile coupons as more convenient than the printout counterparts that must be physically taken into the store.
2. Almost 60 percent of consumers reported that their opinion of a brand would shift more positively if they received digital coupons and offers that they could save in their smartphones.
3. Approximately half of those surveyed said that when they click on a digital ad, they’d rather land on a mobile coupon page than the brand’s homepage, a transactional page or the retailer’s app download page.
4. A full 94 percent of mobile wallet users report they like saving personalized offers and coupons.
5. Just over 30 percent of smartphone users use a mobile wallet.
6. Just under 60 percent of those surveyed said they’d like to have text alerts delivered when updates on their orders are available.
7. Almost 80 percent of smartphone users say they’d view a retailer more positively and they’d increase their brand loyalty if they were to receive surprise rewards, exclusive content and mobile “happy birthday” messaging.
Jack Philbin, CEO and co-founder of Vibes, says the primary shift here isn’t in the customer-perceived value of coupons and loyalty programs, but rather how these benefits are delivered. The immediate nature of mobile delivery is a game-changer, he said, and provides big benefits to both consumers (convenience) and retailers (brand awareness and loyalty), making this form of digital consumption a win for both sides.