6 Ways Mobile Payments Shape Digital Marketing Strategy
We can’t deny the appeal of smartphones. You can take them anywhere with you, they are there when you need to look up something, and now you can shop and pay with them. Not all people may own electronic gadgets like computers and laptops, but they certainly have a mobile phone.
People don’t go anywhere without mobile phones. Mobile phone usage is not slowing down anytime soon either. As of 2021, there are 6.1 billion smartphone users. By 2026 this number will reach 7.5 billion. Hence, the need to make way for mobile-friendly solutions, payments included.
People are all about convenience these days. A mobile phone is convenient. It is not that mobile e-commerce is a requirement, but businesses can attract more customers if they find out they can browse and check out an e-commerce site even while on the go.
Below are how mobile payments shape digital marketing strategies and how you could leverage them.
Improve User Experience
A business is more likely to attract traffic if an option for mobile payment is on the table.
If a business advertises they support mobile payments, customers will flock to them because it makes their shopping experience much more convenient. Companies do that by printing QR codes that customers can download using their phones.
QR codes are marketing materials in themselves. Simply scanning the code allows the user to view your product or service offering visually engagingly. There are also ways to change and redirect existing QR codes, which is handy if a business is shifting to more mobile payment-friendly options or updating their menu without overhauling their entire setup.
Personalized Customer Experience
With numerous business options, customers have the power to pick and choose a business to buy. Customers feel special when they find an advertisement, email, or promo tailored to their interests. It makes them more willing to spend money on a service or product because they know they can use the item or enjoy the service.
Businesses can capitalize on this because people are encouraged to buy from stores that support their preferred payment method, mobile tech included. It is wise to have supported payment methods in promotional materials posted on a business’ site or their social media page. It lets customers know a company is flexible and is adapting to accommodate what’s most convenient for their customers. After all, customers are always right, and a great customer experience drives them to come back as much as the product or service.
In some ways, mobile payments offer a more secure checkout process than traditional payments like credit cards. Customers don’t need to enter their credit or debit card numbers, thereby reducing the chances of fraud or unauthorized purchases. In that sense, DCB is an excellent option as it does not require credit cards or any other physical means, so it has a great reception among young and digital segments.
Streamlined Checkout Process
An efficient checkout process spells the difference between a customer completing their purchase or one abandoning their cart. Customers will probably not go through with the purchase if your website has a tedious checkout process. For example, the checkout process requires people to create an account before proceeding, or it only supports one payment method. These little hang-ups can repel a potential customer.
In terms of marketing materials, businesses should develop ways to push the agenda of an efficient checkout process. It is also a clear selling point in your posters and videos. Visual materials that could contain taglines such as a “one-step checkout,” “hassle-free checkout,” or even “reduced shipping” when paying with their mobile phone entice customers to explore the site.
Offer Rewards Program
Rewarding customers is one way to maintain their loyalty, and mobile payment apps are notorious for this. Businesses can incentivize purchases paid using mobile payment solutions to encourage customers to return for more and new ones. For instance, they can introduce cashback, vouchers, and even freebies when they check out every time a customer reaches a certain amount.
Meanwhile, first-time customers can get discounts on their total or shipping fee if they subscribe or sign up on the website. Anytime rewards like discounts or freebies are mentioned in advertisements, digital or otherwise, customers will eat it up.
Instantly Attract Customers
Given all the stimulation, there is a need to employ visual marketing tactics for business to catch their eye. A business’s marketing strategy must be catchy to grab customers’ attention successfully. You need to utilize visual marketing materials; otherwise, you risk getting passed over for more eye-catching businesses.
One of the main benefits of mobile payments is it requires no lengthy introduction message. Just an image logo of the payment solution displayed on your website and social media, and people can immediately recognize it. People also remember pictures more than words, so it also fits into people’s need for immediate answers to questions or concerns they might have. The saying pictures are worth a thousand words apply in this instance.
Instead of browsing through a FAQs page or shooting a message on social media, customers can instantly determine whether mobile payment is supported by looking at posters, infographics, videos, and more.
Although traditional, in-person transactions stand firm, everything mobile, such as e-commerce and mobile payments, should not be overlooked, given their convenience and efficiency. Businesses need to think of going mobile to keep up and survive.
The future is digital because the younger generations are slowly becoming digital natives. Don’t miss out!
Chatty Garrate, a freelance writer, specializing in lifestyle, technology and business, has collaborated on this post.