Making instant digital payments via mobile wallet has become an increasingly adopted trend. Especially during the current extensive adoption of technical means to make payments via your smartphone, mobile wallets are better than plastic cards.
It is a hassle-free way to add cash directly from your linked bank account, purchase things, and make service-level payments with a single tap. Another refined characteristic of mobile wallet payment is its imperative role in mobile app marketing efforts.
You might be surprised to find the fact that a wallet in your smartphone app is one of the influential ways to market a business application. Thus, here in this post, we will be looking at insights into mobile wallet app marketing ways and some real-life case studies.
So, without any further adieu, let’s get started on the same.
Table of Contents
A. What are mobile wallets?
B. Benefits of using mobile wallets
C. App marketing strategies linked with wallet in mobile app
D. App wallet marketing case studies
E. Concluding thoughts
What are Mobile Wallets?
When it comes to conveniently making payments, no matter at a big space mall or at the cart of a street vendor, a mobile wallet comes in the first place. In all big and small cities, digital payment method has reached every knock and corner.
People having smartphones rely more on digital money rather than carrying a wallet full of currency notes. As per the study itself, the global mobile wallet market will reach 3 trillion dollars by the end of 2022. It showcases the unprecedented growth of new ways of making payments.
The other beneficial facet of such a digital way of paying for a product or a service is boosting business-level conversions. Several mobile app marketing companies prefer to utilize mobile wallets as valuable assets to market business across extensive customer places.
Benefits of Using Mobile Wallets
Before we get into the information about relying on wallets in the mobile app for marketing purposes, let’s have a look at a few benefits.
* It is a convenient, fast, and secured way to make payments with no such requirement to carry much of the hard-earned cash and credit/debit cards.
* Secure way to pay with no such hassle of theft or loss of information. Mobile wallet apps require user-specific fingerprint, face, or password protection recognition.
* Mobile wallet provides quick user acquisition data benefits, specifically for marketing purposes. It provides information on the frequency of making purchases and adding money to the wallet as per the respective user.
App Marketing Strategies Linked with Wallet in Mobile App
Now at this point, find out the ways to count on the mobile wallet for result-oriented app marketing and increase conversions exponentially. Moreover, work on the already available opportunities to see growth ahead.
1. Push Notifications
You might have an option to enable push notifications on your business app. simply, enable the same to start sending promotional offers to respective users. For example, you can send notifications to users to make frequent payments via mobile wallets to earn points. These can be further utilized to avail discount on shopping or service booking. Doing this will help app users to rely more on the mobile wallet for cashless payments and earn rewards.
2. Use Discount Coupons Offered
Once again, the discount is a beneficial factor to catch the user’s attention. Furthermore, it is a lead magnet in terms of re-engaging customers by way of offering coupon code discounts depending on previous purchases. Doing this will allow the users to shop more often and automatically increase your business ROI.
3. Utilize Cashback Offers
One of the most popular and highly acceptable ways to increase mobile app conversions is offering cashback on mobile wallet payments. It is a tried and tested measure that encourages users to utilize mobile wallets frequently and then earn cashback.
App Wallet Marketing Case Studies
As mentioned above, we will showcase some of the renowned brands that have already adopted mobile wallet app marketing strategies to witness great results.
1. Venmo which is a project of PayPal initiated a unique way to offer a mobile wallet payment feature to users. The brand allows customers to make a single payment via different users’ wallet payment accounts. It allows splitting the payment among a group of friends or family. It was an experimented project but did receive a great acceptance after doing end-to-end app marketing.
2. Gcash is another mobile wallet app brand that witnessed over 40 million users’ increased rate which is doubled the previous year. The Philippines brand initiated financial services and commercial services activities on the app that allows users to buy stocks, insurance, and other products.
Mobile wallets are a new-age payment system for smartphone users to avoid cash loss hassles and several thefts. It is a hassle-free way to make payments widely with a single tap. Also, mobile wallet helps convert users into loyal customers by infusing essential advertising tactics implemented by a reliable mobile app marketing company.
If you want to increase app conversions, leads, and the overall business profit, then rely on app marketing initiates based on your mobile wallet system.