Mobile payment or next gold mine but to the consumer to do well marketing

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Mobile payments are touted as the next big thing in the marketing field. Brand operators can immediately access the purchase data of individual customers in the store and provide targeted transactions. And customers can pay with a smartphone close to the scanner, without flipping through the wallet's credit card, money, or change.

The Research institute Yankee estimates that the global mobile payment volume will reach nearly $1 trillion trillion in the 3721.html ">2014 year, a significant increase from 162 billion dollars in 2010." But why are so few consumers using mobile payment methods?

Mobile payment may be a perfect mix of e-commerce and traditional physical shopping, but for ordinary consumers, the service is still confusing.

The contradictory psychology of the consumer to the mobile payment is very obvious. A study by IDC, a research firm, found that only 20% of respondents bought products from their mobile phones at stores. Only 2% of consumers with devices that can use near-field communications technology are expected to use the purchase in 2012 years.

For this low permeability, marketers can only blame themselves. The hype over mobile payments has not been properly educated, and stimulus measures have been taken as a backstop, making it easier for consumers to use mobile payments and derive value from them.

Sepharim Group analyst Bob Egan recently made a vivid explanation for why mobile payments lag behind other forms of e-commerce in an interview. "Consumers or retailers are not aware of the important drivers behind this technology, although the technology allows consumers to produce a completely different buying behavior." ”

Still, there are a lot of brands that are joining the boom in mobile payments. Adambrotman, vice president of Starbucks and general manager of the digital venture, said last year that more than 3 million transactions were paid through mobile in the first nine weeks when the mobile payment program was introduced nationwide. ”

For marketers, this gap between hype and reality gives them a problem: either investing in this new form of digital commerce, which has huge potential but few consumers, or waiting to see where the market and consumers are headed. The latter may be less appealing to brands that are struggling with the cautious use of Facebook.

It is time for marketers to return to the fundamentals of mobile payments through these hype. The following two concepts will contribute to their understanding in this regard:

1. Make mobile payment easy to use. Marketers need to consider the value of each process of selling. This requires an intuitive payment process-providing instant, targeted coupons and deals based on purchase patterns, location, and social media based advertising agencies.

2, realize that the mobile payment of a broader value. For the brand, the most valuable is not the payment itself, although it is important, but in these point-of-sale dynamic advertising, marketing and coupon opportunities. On the surface, consumers use mobile phones to buy a brand's products or services, but in fact, a smartphone with near-field communication functions can provide brands with a real-time, direct consumer-oriented contact point around advertising and coupons.

Before a new marketing gold rush is cast, brand makers need to return to basics. Mobile payments need to be presented to consumers in a value-added way, rather than as a simple marketing technique. Otherwise, as recently as Facebook's IPO, media hype has cooled before the huge potential for mobile payments is realised.