Wallet advertising is likely to have the most impact for the least amount spent in 2017.
If you’re not familiar with wallet advertising, you’re not alone. Most merchants and business owners haven’t actually created a mobile strategy of any sort – much less one that takes mobile wallet advertising into account.
[DOWNLOAD: 3 Steps to Creating a Successful Mobile Strategy – FREE WORKSHEET]
But wait! Don’t despair. It’s early yet, and you can absolutely create a plan, sort out your tactics and get moving on cost effective means of promoting your business… it’s quite simple to do and the results can be very dramatic – especially if you are willing to think about your campaigns from a customer centric perspective, instead of just thinking along the lines of what’s good for you.
This is one example of a mobile wallet ad. It happens to be the promo for our podcast – Mobile Wallet Marketing Made Easy.
Each time there’s a new episode of the podcast, everyone gets a quick update to their lock screen with the new episode title, and a direct link to listen to the podcast on any of the channels where it “lives”.
The mobile wallet advertisement is a “pass” or a “card” that lives inside Apple Wallet on iPhone, and in a variety of Android wallet apps that are developed by third parties and are pretty generic, meaning they can hold anyone’s passes or cards in them.
Mobile wallet ads help drive traffic to nearly any place – online or offline – that you want.
That’s right. Wallet advertising can help to drive foot traffic to your business location.
You can integrate geofencing, geolocation, or iBeacons – BLE transmitter beacons – to trigger lock screen notifications, present offers, serve up welcome messages or other information, etc.
The average person will redeem a coupon in less than 2 minutes if you use iBeacons or geofencing to send it directly to their phone using a wallet advertisement.
Yep, that is correct. 58% of shoppers will redeem a mobile coupon if they receive it while they are in the vicinity of the store. And they do it quickly. If you own a local business with a physical location, you’re killing your sales by NOT using mobile wallet ads to draw shoppers into your location.
[Tweet “”That’s nice… for the guy with a brick & mortar shop. What happens if I don’t have one of those?””]
How can this work for online stores, coaching, and other businesses?
Again, it’s super simple. You’re using the lock screen updates to disrupt the prospects attention flow – this is a key, critically important part of seeing success with any ad campaign (not just mobile, not just wallet, not just online or offline) that is going to be successful.
[READ: Crafting a lock screen notification that gets attention and responses]
Creating a great lock screen message is the first step to getting someone’s attention.
Next, you’re going to give them an “offer they can’t refuse” – which is just another way of saying that you need to make sure the back side of your wallet advertising pass contains interesting captions for your links.
“Click here to see our daily specials” – that’s ok.
“Click here – fresh salads, soup of the day, sandwich and lunch specials!” – that’s the kind of thing that suggests to people they should look more closely.
“Click here to check out great deals” – that’s ok.
“Click here – lifetime access to our entire video library for pennies on the dollar!” – that’s the kind of thing that makes people take notice of what you’re actually promoting.
Using the mobile wallet advertisement is the best way to get your proverbial foot in the door, but you’ll still need to pay attention to what message (and how often) you’re sending to your prospects and target demographic.
And the cost is minimal, especially compared to developing your own app that no one will likely use, or spending your money buying space in someone else’s app (that no one will likely use). Cost effective advertising is one of the key factors in seeing a decent ROI for your investments as well.