Overview
Landscape of the industry (brands, QSR, retail, etc.).
The retail industry in Australia is highly competitive, with shorter sales cycles and evolving consumer expectations driving the need for stronger customer engagement. With rising operational costs and increased competition from global and local players, retailers must differentiate themselves by creating personalized and seamless experiences.
Customer engagement is critical for building loyalty, generating repeat business and strengthening brand relationships. By leveraging data and technology, retailers can tailor promotions, enhance the shopping journey, and provide value through loyalty programs and omnichannel strategies. This focus not only boosts retention but also helps retailers adapt to market demands and stand out in a crowded marketplace.
What does the term mobile wallet opt-in mean?
Mobile Wallet opt-in refers to the adoption from customers downloading a digital wallet pass – whether it be an offer or a membership card – and there are some interesting stats to prove their adoption.
Approximately 80% of Australians are using digital wallets daily – which means that the technology is already being highly utilised.
Statistics also show that people are now deleting apps at a rate faster than they are downloading new apps*
Therefore, creating a digital wallet experience is not only easy to achieve for brands and retailers – but it’s something that will be easily adopted by customers.
What does this allow for brands to achieve? (think about how big the total amount of active members and brand loyalist database is compared to email/sms viewers and app users)
When we consider the difference between the number of customers a brand has, compared to the number of customers that use that brand’s mobile app – it can be quite vast.
This means that direct marketing and communication can only hit a small percentage of your customers – and with the decline in email, open rates and the trust in SMS, brands and retailers are looking for a new way to connect with their customers.
So, when considering the ease of downloading a digital wallet pass – and the connection that brands can experience via push notifications through the digital wallet – Litecard can help brands bridge this gap and communicate with more of their loyal customers.
How can brands achieve mobile wallet opt-in?
Vouchers and memberships
Loyalty/Memberships – For loyalty and membership passes, create a convenient and seamless experience for customers in the digital wallet. This can help increase usage and engagement with the brand and its loyalty rewards.
Vouchers/Offers – Eliminate coupon codes in emails and distribute promotions and offers across ALL channels
Vouchers
How would this work for a brand? Give 2-3 flow examples
- Email > Sign Up/Competition Page > Mobile Wallet Pass > In-Store/Online Transaction.
- Social Media > Click & Add to Wallet > In-store/Online Transaction
Memberships
How can people get a membership? Through their app, email confirmation, through a QR code on their physical card
Gathering members is an important step in many brands and retailers marketing, because as we know it’s 5-10 times more expensive to acquire a customer than it is to retain it – so it’s imperative that the customer experience is as seamless as possible.
With Litecard, new members can sign up in so many different ways – this depends on the brand’s current system and process.
Why should brands be thinking about this now?
Statistics continue to show the rise in digital wallet usage – while at the same time, the decline in traditional forms of payment like cash. What does this tell us?
It tells us that consumers care more about convenience than ever before.
Not only this, but consumers are looking for different ways to engage with brands. Since the introduction of the ‘Promotions’ folder in email, email open rates have significantly dropped and SMS marketing is not only expensive, it’s untrusted with the number of scams that consumers receive on a daily basis.
Why should brands be thinking about this now? Budget allocation, the next age of digital engagement. Statistics on mobile wallet, people are already using this space and educated,
Brands who think forward and focus on user experience will stand out from competitors – why?
Brands that enter the digital wallet are front of mind – how?
Well, if four in 5 Australians are using their digital wallet for payments daily – then brands in the digital wallet are always present during these pivotal times.
Other Angle;
