Mobile Wallets Will Become Marketing Platforms: Featuring The Men's Wearhouse & guest Forrester
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Transcript of Mobile Wallets Will Become Marketing Platforms: Featuring The Men's Wearhouse & guest Forrester
©2015 Vibes All rights reserved. Confidential 1 #FutureofWallets
Mobile wallets will become marketing platforms
FEBRUARY 24, 2015
©2015 Vibes All rights reserved. Confidential 2 #FutureofWallets
Today’s speakers
THOMAS HUSSON VP, PRINCIPAL ANALYST FORRESTER RESEARCH, INC.
MATT STRINGER EVP, MARKETING THE MEN’S WEARHOUSE
Place pic
here JACK PHILBIN CO-FOUNDER, CEO VIBES
@Thomas_Husson www.linkedin.com/in/ mattstringersf/en
@JackPhilbin
© 2015 Forrester Research, Inc. Reproduction Prohibited 4 Source: Forrester Research
The future of mobile wallets lies beyond payments Offers & coupons
Product information
Mobile payment
Loyalty rewards
© 2015 Forrester Research, Inc. Reproduction Prohibited 5
Consumers expect many services to be included in a mobile wallet
Base: 3,396 US online adult (18+) smartphone users and 9,379 European online adult (18+) smartphone users Source: Forrester’s North American Consumer Technographics® Financial Services Survey, 2014 and Forrester’s European Consumer Technographics Financial Services Survey 2, 2014
© 2015 Forrester Research, Inc. Reproduction Prohibited 6
Payments fade into the background to cede place to a mobile engagement platform
© 2015 Forrester Research, Inc. Reproduction Prohibited 7
A service that lets consumers manage digitized valuables (offers, coupons, loyalty rewards, tickets, boarding
passes, gift cards, IDs, electronic receipts, or product information) from multiple brands and that enables
payment transactions.
Mobile wallets defined…
© 2015 Forrester Research, Inc. Reproduction Prohibited 9
Time spent on apps is concentrated among few apps - mostly social media and messaging today
Base: US: 1,930 online smarthpone owners (18+)
Source: Forrester’s Consumer Technographics® Behavioral Study, Dates Spanned (MM,DD,YY): 8,1,2014 - 10,31,2014
© 2015 Forrester Research, Inc. Reproduction Prohibited 10
Tomorrow, new apps will morph into marketing platforms. Mobile wallets will be one of them
Content Services
Mobile Wallet Coupons Flash sales
Contests Games
Apps Apps
In marketing, these mobile moments are:
FOR CMOS
Brief: Create Mobile Moments That Boost The Brand Experience 3
© 2014, Forrester Research, Inc. Reproduction Prohibited July 29, 2014
■ Borrowed moments drive discovery. Borrowed moments take brands to where their customers are already engaging in mobile on social networks like Facebook or Pinterest, message platforms like Snapchat or WeChat, or media properties like The Huffington Post or The New York Times. Third-party gaming apps, branded content, paid ads, or search insert brands directly into a consumer’s mobile experience. Toyota partnered with Pandora to create its own channel on the Internet radio service, delivering a curated music experience relevant to Toyota’s target audience members — directly to their phones and other Internet-connected devices. American Express is teaming up with Uber to leverage the mobile moments of the car service app’s customers.
Figure 1 There Are Three Types Of Mobile Marketing Moments
Source: Forrester Research, Inc.110283
Loyaltymoments
deepenestablishedrelationships
Manufacturedmoments
create anopportunity forengagement
Borrowedmoments
drive discovery
How Mobile Moments Build A TRUE Brand Experience
CMOs must elevate mobile from a tactical afterthought to a brand experience booster. Forrester’s TRUE brand compass provides CMOs with a framework to harness the power of mobile to deliver a superior brand experience and build a trusted, remarkable, unmistakable, and essential (TRUE) brand (see Figure 2):
■ Trusted: Be ready to deliver value when your loyal customers need it most. Frequency of mobile engagement can be less critical than being there to serve your customers in their moment of need. American Express focuses its mobile efforts on being there for their customers at the infrequent but critical “moment of truth” that may only happen one time to two times a year or less. For example, the credit card provider quickly resolves potential fraud cases through an interactive mobile experience once members are authenticated.
■ Remarkable: Manufacture moments around customer passion points to drive buzz. Give people something to talk about. Customers are more likely to talk about your brand if it is connected to a topic they are passionate about. Digital agency MRM//McCann created a rich mobile football experience called Intel Info Stream designed to connect UK technology management professionals with the Intel brand by enabling them to get closer to their favorite
FOR CMOS
Brief: Create Mobile Moments That Boost The Brand Experience 3
© 2014, Forrester Research, Inc. Reproduction Prohibited July 29, 2014
■ Borrowed moments drive discovery. Borrowed moments take brands to where their customers are already engaging in mobile on social networks like Facebook or Pinterest, message platforms like Snapchat or WeChat, or media properties like The Huffington Post or The New York Times. Third-party gaming apps, branded content, paid ads, or search insert brands directly into a consumer’s mobile experience. Toyota partnered with Pandora to create its own channel on the Internet radio service, delivering a curated music experience relevant to Toyota’s target audience members — directly to their phones and other Internet-connected devices. American Express is teaming up with Uber to leverage the mobile moments of the car service app’s customers.
Figure 1 There Are Three Types Of Mobile Marketing Moments
Source: Forrester Research, Inc.110283
Loyaltymoments
deepenestablishedrelationships
Manufacturedmoments
create anopportunity forengagement
Borrowedmoments
drive discovery
How Mobile Moments Build A TRUE Brand Experience
CMOs must elevate mobile from a tactical afterthought to a brand experience booster. Forrester’s TRUE brand compass provides CMOs with a framework to harness the power of mobile to deliver a superior brand experience and build a trusted, remarkable, unmistakable, and essential (TRUE) brand (see Figure 2):
■ Trusted: Be ready to deliver value when your loyal customers need it most. Frequency of mobile engagement can be less critical than being there to serve your customers in their moment of need. American Express focuses its mobile efforts on being there for their customers at the infrequent but critical “moment of truth” that may only happen one time to two times a year or less. For example, the credit card provider quickly resolves potential fraud cases through an interactive mobile experience once members are authenticated.
■ Remarkable: Manufacture moments around customer passion points to drive buzz. Give people something to talk about. Customers are more likely to talk about your brand if it is connected to a topic they are passionate about. Digital agency MRM//McCann created a rich mobile football experience called Intel Info Stream designed to connect UK technology management professionals with the Intel brand by enabling them to get closer to their favorite
FOR CMOS
Brief: Create Mobile Moments That Boost The Brand Experience 3
© 2014, Forrester Research, Inc. Reproduction Prohibited July 29, 2014
■ Borrowed moments drive discovery. Borrowed moments take brands to where their customers are already engaging in mobile on social networks like Facebook or Pinterest, message platforms like Snapchat or WeChat, or media properties like The Huffington Post or The New York Times. Third-party gaming apps, branded content, paid ads, or search insert brands directly into a consumer’s mobile experience. Toyota partnered with Pandora to create its own channel on the Internet radio service, delivering a curated music experience relevant to Toyota’s target audience members — directly to their phones and other Internet-connected devices. American Express is teaming up with Uber to leverage the mobile moments of the car service app’s customers.
Figure 1 There Are Three Types Of Mobile Marketing Moments
Source: Forrester Research, Inc.110283
Loyaltymoments
deepenestablishedrelationships
Manufacturedmoments
create anopportunity forengagement
Borrowedmoments
drive discovery
How Mobile Moments Build A TRUE Brand Experience
CMOs must elevate mobile from a tactical afterthought to a brand experience booster. Forrester’s TRUE brand compass provides CMOs with a framework to harness the power of mobile to deliver a superior brand experience and build a trusted, remarkable, unmistakable, and essential (TRUE) brand (see Figure 2):
■ Trusted: Be ready to deliver value when your loyal customers need it most. Frequency of mobile engagement can be less critical than being there to serve your customers in their moment of need. American Express focuses its mobile efforts on being there for their customers at the infrequent but critical “moment of truth” that may only happen one time to two times a year or less. For example, the credit card provider quickly resolves potential fraud cases through an interactive mobile experience once members are authenticated.
■ Remarkable: Manufacture moments around customer passion points to drive buzz. Give people something to talk about. Customers are more likely to talk about your brand if it is connected to a topic they are passionate about. Digital agency MRM//McCann created a rich mobile football experience called Intel Info Stream designed to connect UK technology management professionals with the Intel brand by enabling them to get closer to their favorite
© 2015 Forrester Research, Inc. Reproduction Prohibited 12
Mobile wallets will enable brands to reach out to all customers beyond apps
› Wallets will complement not replace merchants’ own integrated apps
› You don’t even need to have a branded app: notification alerts and app extensions
› Open APIs integration and mobile advertising solutions to be embedded in mobile wallet campaign platforms
© 2015 Forrester Research, Inc. Reproduction Prohibited 13
Marketers can benefit from mobile wallet platforms
› Ability to drive foot traffic and increase sales › Higher conversion rates versus mobile coupons
© 2015 Forrester Research, Inc. Reproduction Prohibited 14
Marketers plan to add mobile wallets to their marketing mix…
© 2015 Forrester Research, Inc. Reproduction Prohibited 15
Source: Interview with Forrester on July 17, 2014
“Many marketers believe that mobile wallets are only for retailers. We believe that everybody will tap into the
opportunity they offer once they reach scale. For us, adding digital ID cards to mobile wallets could simplify the customer
experience and deepen customer engagement.”
Patrick Feeney Director, Mobile and Emerging Technology
…and not just retailers
© 2015 Forrester Research, Inc. Reproduction Prohibited 16
Five things you should do now to serve your customers in their mobile moments
1. Test existing mobile wallets’ marketing capabilities 2. Plan for contextually relevant real-time offerings 3. Mobilize loyalty program 4. Regularly update branded content 5. Tie together loyalty programs, coupons, product discovery, gift
cards and promotions
© 2015 Forrester Research, Inc. Reproduction Prohibited 17
Key takeaways
› By adding marketing value beyond payments, mobile wallet platforms will emerge
› New opportunities to engage customers in their mobile moments beyond your own integrated app
› Develop contextualized offerings to serve your customers in their mobile moments
©2015 Vibes All rights reserved. Confidential 19 #FutureofWallets
Men’s Wearhouse
• Founded in 1973
• 1,756 stores • The Men's Wearhouse, Jos. A. Bank,
Moores and K&G stores
• Full selection of suits, sport coats, furnishings and accessories
COMPANY OVERVIEW
©2015 Vibes All rights reserved. Confidential 20 #FutureofWallets
Focus on innovation that meets customer needs and wants
Our mobile vision and strategy
1 2 3Amplify the store experience
The customer is at the center of the digital customer journey
©2015 Vibes All rights reserved. Confidential 21 #FutureofWallets
Early adopter of Passbook STARTED IN EARLY 2013
#FutureofWallets
©2015 Vibes All rights reserved. Confidential 22 #FutureofWallets
50+ email campaigns in 2014
With the “Save to Phone” option
OR
©2015 Vibes All rights reserved. Confidential 23 #FutureofWallets
Exciting results from activating emails with wallet
ACTIVATING EMAILS WITH WALLET
• 10X increase in redemption from emails that had the “Save to Wallet” feature
• Expecting 7-figure sales results in 2015 from Passbook and Google Wallet
©2015 Vibes All rights reserved. Confidential 24 #FutureofWallets
ACTIVATING EMAILS WAS JUST THE BEGINNING…
The future started December 2014 with a multi-channel, multi-faceted mobile Holiday campaign
©2015 Vibes All rights reserved. Confidential 25 #FutureofWallets
Wallet content promoted across channels • Mobile Display Ads • Social • Web site • Email • SMS
Integrated mobile experience included • SMS • Mobile Web “Gamification” • Save to Wallet – Passbook &
Google Wallet
MULTI-CHANNEL MULTI-FACETED
2014 Holiday campaign
©2015 Vibes All rights reserved. Confidential 26 #FutureofWallets
2014 Holiday campaign
All CTAs drive to opt-in form to join SMS database with a chance to WIN incentive.
MULTI-CHANNEL DISTRIBUTION
Mobile Display Ads Social Web site Email
©2015 Vibes All rights reserved. Confidential 27 #FutureofWallets
2014 Holiday campaign multi-faceted mobile experience
SMS opt-in copy with link to experience
Rub phone to reveal savings
Save offer to Passbook &
Google Wallet
3. WALLET 2. GAMIFICATION 1. SMS
©2015 Vibes All rights reserved. Confidential 28 #FutureofWallets
Even more exciting results from the Holiday campaign
2014 HOLIDAY CAMPAIGN
• 166% increase in redemption vs. other digital couponing programs
• 35% increase in average order value (AOV) from the Wallet Holiday campaign
©2015 Vibes All rights reserved. Confidential 29 #FutureofWallets
Loyalty is up next
Mobilizing the PERFECT│FIT loyalty program
©2015 Vibes All rights reserved. Confidential 30 #FutureofWallets
Key learnings and suggestions 1. Put the customer at the center of your
digital customer journey
2. Define a holistic mobile strategy
3. Activate all marketing channels with mobile marketing and mobile wallet – social, display ads, email, web site, direct mail, search
4. Build a robust SMS database
5. Integrate Wallet with your own App
6. Select a partner who can help with strategy and execution – future focused SaaS platform
7. Get started… yesterday
©2015 Vibes All rights reserved. Confidential 32 #FutureofWallets
The mobile landscape Mobile marketing !
Mobile advertising!
Mobile !experiences!
!Mobile services! !
mobile!display!
ads!rich!
media!ads!
apps!
mobile web experiences!
m-commerce! Mobile !media !buys!
mobile wallet"
marketing"
QR!codes!
SMS !MMS!
mobile!database!
loyalty program activation!
service !alerts!
targeting & !segmentation!
push !notifications!
payments!
Programmatic (RTB)!
service!apps!
mobile"coupons"
mobile wallet"
advertising"
©2015 Vibes All rights reserved. Confidential 33 #FutureofWallets
New marketing platforms
launched September 2012
Added loyalty and offers September 2013
REWARDS CERTIFICATES LOYALTY CARDS OFFERS & COUPONS
©2015 Vibes All rights reserved. Confidential 34 #FutureofWallets
Benefits of mobile wallet FOR THE CONSUMER • Convenience • Timely reminders (expiring offers) • Location triggered notifications
FOR THE MARKETER • Great way to drive foot traffic • Higher conversion vs mobile web coupon • Ability to update content and offers
©2015 Vibes All rights reserved. Confidential 35 #FutureofWallets
Apple Pay
Mobile Wallet Marketing
Opportunity
Your brand needs to be right here next to your
customers’ credit cards
©2015 Vibes All rights reserved. Confidential 36 #FutureofWallets
All marketing roads lead to wallet
SMS EMAIL POS ADS LOYALTY SOCIAL APPS DIRECT MAIL
Get content saved in the
wallet
WEB
©2015 Vibes All rights reserved. Confidential 37 #FutureofWallets
Toyota / Epsilon – direct mail to wallet
Consumer receives text bounce-back
Consumer adds to Passbook
Consumer texts-in or scans
QR code
FRONT
BACK
©2015 Vibes All rights reserved. Confidential 38 #FutureofWallets
Toyota / Epsilon – direct mail to wallet
Consumer receives text bounce-back
Consumer adds to Google Wallet
Consumer texts-in or scans
QR code
FRONT
BACK
©2015 Vibes All rights reserved. Confidential 39 #FutureofWallets
All marketing roads lead to wallet
SMS EMAIL POS ADS LOYALTY SOCIAL APPS DIRECT MAIL
Get content saved in the
wallet
WEB
©2015 Vibes All rights reserved. Confidential 40 #FutureofWallets
Old Navy
Customers are given the paper Super Cash coupon at POS, the CTA prompts them to text in their redemption code also located on the back of the coupon.
SUPER CASH
FRONT
BACK
©2015 Vibes All rights reserved. Confidential 41 #FutureofWallets
Mobilizing Super Cash
The customer texts their redemption code and immediately receives the subscription prompt to subscribe to Super Cash Alerts as well as their unique URL to save their Super Cash Coupon.
©2015 Vibes All rights reserved. Confidential 42 #FutureofWallets
Mobilizing Super Cash
Mobile Web Google Offer Google Offer
©2015 Vibes All rights reserved. Confidential 43 #FutureofWallets
All marketing roads lead to wallet
SMS EMAIL POS ADS LOYALTY SOCIAL APPS DIRECT MAIL
Get content saved in the
wallet
WEB
©2015 Vibes All rights reserved. Confidential 44 #FutureofWallets
Home Depot – email to wallet
Activate emails with
mobile wallet OR
©2015 Vibes All rights reserved. Confidential 45 #FutureofWallets
All marketing roads lead to wallet
SMS EMAIL POS ADS LOYALTY SOCIAL APPS DIRECT MAIL
Get content saved in the
wallet
WEB
©2015 Vibes All rights reserved. Confidential 47 #FutureofWallets
Gap – SMS to Wallet
!
a very special plaid shirt responds
©2015 Vibes All rights reserved. Confidential 49 #FutureofWallets
All marketing roads lead to wallet
SMS EMAIL POS ADS LOYALTY SOCIAL APPS DIRECT MAIL
Get content saved in the
wallet
WEB
©2015 Vibes All rights reserved. Confidential 50 #FutureofWallets
Pep Boys – mobile web to wallet
Visit PepBoys.com on your phone. Click on “Coupons” to get the wallet experience.
OR !
!
©2015 Vibes All rights reserved. Confidential 51 #FutureofWallets
Pep Boys impressive results WITH PASSBOOK & GOOGLE WALLET
saved to Wallet
26% in-store
redemption
30%
©2015 Vibes All rights reserved. Confidential 52 #FutureofWallets
All marketing roads lead to wallet
SMS EMAIL POS ADS LOYALTY SOCIAL APPS DIRECT MAIL
Get content saved in the
wallet
WEB
©2015 Vibes All rights reserved. Confidential 53 #FutureofWallets
Mobile banner ad mobile wallet experience
+
GAP
©2015 Vibes All rights reserved. Confidential 54 #FutureofWallets
Future of mobile & social advertising
MOBILE WEB
TRY IT OUT Open this link
on your phone: OR OR www.vibes.com/style
©2015 Vibes All rights reserved. Confidential 55 #FutureofWallets
All marketing roads lead to wallet
SMS EMAIL POS ADS LOYALTY SOCIAL APPS DIRECT MAIL
Get content saved in the
wallet
WEB
©2015 Vibes All rights reserved. Confidential 57 #FutureofWallets
All marketing roads lead to wallet
SMS EMAIL POS ADS LOYALTY SOCIAL APPS DIRECT MAIL
Get content saved in the
wallet
WEB
©2015 Vibes All rights reserved. Confidential 58 #FutureofWallets
Men’s Wearhouse – app to wallet APP MOBILE WALLET
©2015 Vibes All rights reserved. Confidential 59 #FutureofWallets
All marketing roads lead to wallet
SMS EMAIL POS ADS LOYALTY SOCIAL APPS DIRECT MAIL
Get content saved in the
wallet
WEB
©2015 Vibes All rights reserved. Confidential 60 #FutureofWallets
Men’s Wearhouse – social to wallet SOCIAL MOBILE WALLET
©2015 Vibes All rights reserved. Confidential 61 #FutureofWallets
All marketing roads lead to wallet
SMS EMAIL POS ADS LOYALTY SOCIAL APPS DIRECT MAIL
Get content saved in the
wallet
WEB
©2015 Vibes All rights reserved. Confidential 62 #FutureofWallets
SaaS platform
Catapult™ makes mobile wallet management easy
CATAPULT Mobile wallet
metrics
Single “smartlink”
Manage Passbook &
Google Wallet in one
interface
Manage locations (geo or iBeacon IDs)
©2015 Vibes All rights reserved. Confidential 63 #FutureofWallets
Build for iOS & Android
Wallet manager Make sure to build solutions for both iPhone and Android users.
©2015 Vibes All rights reserved. Confidential 64 #FutureofWallets
Key takeaways
Determine wallet use cases for your business
Get started with email.. it’s fast and easy
Leverage location-based triggers to drive engagement for your loyalty program
Select a platform that makes it easy to actively manage and monitor performance
Get started today!
©2015 Vibes All rights reserved. Confidential 65 #FutureofWallets
Get the Forrester Mobile Wallet Report
www.vibes.com/MobileWalletReport
©2015 Vibes All rights reserved. Confidential 66 #FutureofWallets
Questions for ours speakers?
THOMAS HUSSON VP, PRINCIPAL ANALYST FORRESTER RESEARCH, INC.
MATT STRINGER EVP, MARKETING THE MEN’S WEARHOUSE
@Thomas_Husson www.linkedin.com/in/ mattstringersf/en
Place pic
here JACK PHILBIN CO-FOUNDER, CEO VIBES
@JackPhilbin