Mobile Marketing and Loyalty Programs – Finding the Balance!
Merchants don’t realize that mobile wallets can also be used as strategic marketing tools to help increase their bottom lines. The solution is in mobile loyalty programs.
After all, customers love loyalty programs. But they don’t love carrying around a wad of plastic cards in their wallets. Cards are bulky and easily lost. So, if your business already offers a loyalty program -- or plans to implement one -- there’s never been a better time to make the switch to mobile.
Benefits for businesses
The most obvious reason why merchants offer mobile loyalty programs is to give customers incentives to return to their businesses.
Customer retention is always good for boosting the bottom line, but studies have shown that a mobile loyalty program can also boost extra sales among loyalty customers. Kohl’s loyalty customers, for example, average two additional trips to the store and spend $80 more than non-loyalty customers over the course of a year.
Differentiation from the competition
Loyalty programs are an excellent way to stand out from the crowd. And having a mobile loyalty program gives you an even bigger edge in the marketplace. Consider what your competitors are doing for their loyalty programs and figure out a way to make yours even better.
Mobile loyalty programs require less operational management than paper-based programs, and that advantage will ultimately lead to reduced operational costs.
Improved customer service
Consumers want their experiences to be enjoyable, and they want to feel valued. Loyalty programs help make both of these goals possible. They open the door for more communication between retailers and customers during checkout. And they give loyal customers rewards for their patronage, making them feel appreciated.
Some merchants, like Starbucks, have already launched successful loyalty programs within their own store apps. The Starbucks app allows customers to load money onto their mobile accounts (like a revolving gift card), keep track of their rewards and make payments and use their rewards directly from their phones at checkout. And this is just the beginning of the integration of mobile wallets with loyalty programs.
Already happening in Africa
M-PESA continues to lead the world in mobile money transfer. It has revolutionised the way Kenya does business. M-PESA enables you to go further, pushing the boundaries of its core service: mobile money transfer. Experience M-PESA as a payments platform or as your personal bank account through the KCB M-PESA account. They are leading the future of mobile money transfer services and transactions in Kenya and the world over. Your Mobile wallet just got digital! You can Send, receive money, pay for bills and transact easily, safely and conveniently.
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