SMTULSA Conference Presentation: Mobile Wallet
Post on 13-Jan-2015
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DESCRIPTIONMobile Commerce was just one of the topics from the 2014 SMTULSA Social Business Conference. Judd Wheeler shared two presentations on mobile marketing and commerce. learn more about SMTULSA conference. Smtulsa.com Registration is open.
- 1. Leather Wallet: The Next Watch? Mobile Commerce
2. Everyone is a walking cash register 3. $275/sec on mobile commerce $1 million during this hour long talk 4. Wallets are becoming as unnecessary as watches Denise Lee Yohn 5. 2025 6. What is Mobile Commerce The delivery of electronic commerce capabilities directly into the consumers hand, anywhere, via wireless technology Kevin Duffey, 1997 7. Emergence of Mobile Commerce 1997 Birth of mobile commerce was in Finland 8. Emergence of Mobile Commerce 1998 The first sales of downloadable ringtones 9. Emergence of Mobile Commerce 1999 A mobile platform for mobile commerce was launched in Philippines 10. 163% Comscore, 2011 Since 2010, mobile traffic to retailers sites has grown $31 Billion (and this is just the US) Forrester, July 2011 In 2016, the M- Commerce market will be worth 11. mobile listings 800k 100m 1.8 m new users made first purchase on mobile Jan- Sep Q3 new customers solely through mobile in Q3 2012 12. Mobile 3-4 times more valuable than desktop 1000 cars a week Womens handbags sold every 30 second on eBay 13. Mobile Ordering 0% 10% 20% 30% 40% 50% 60% 18 months ago Today Many from inside the four walls 14. 1 Out of Every 3 Exclusively on Mobile 15. EMEA is the mobile money hot spot In 2011, EMEA accounts for 41% of mobile transactions value North America 35% Asia-Pacific 22% Latin America 1% Yankee Group (June 2011) 16. Users are readily adopting mobile banking Yankee Group (June 2011) predicts that there will be 500 million m-banking users globally by 2015. 27% 13% 11% 9% 0% 5% 10% 15% 20% 25% 30% Mobile Banking M-Commerce Mobile Coupons Mobile Payments 17. Gartner Predicts 2016 448 million m-payment users Market worth $617 billion Asia/Pacific will have the most m-payment users Africa will account for the highest revenues. 18. Gartner Predicts Mobile Web is expected to dominate mobile payments in North America and Europe through to 2016. SMS is expected to remain the key vehicle for m- payments in developing markets. NFC transactions will remain relatively low through 2015, but will start to pick up from 2016. 19. Reach Your Customers 99% of the time they are not in your branch or in front of their computer 20. Personalization Permission-based Targeted Live Two-way 21. EXAMPLES 22. Pizza Hut earned $7 million in sales in the first year after launching a mobile ordering app 23. New Look clothing Full mobile strategy m-commerce site transactional iPhone app SMS marketing campaign In the first three months sales via mobile up 500%+ orders up 60% + over 200,000 App Store downloads in month one alone 24. 75,000 bookings 10 million over a 6 month period 25. Walmart 26. Chase Optimized Branded Omnichannel promotion Apps, web, QR, SMS, mobile ads 27. Amazon Recommendations Categories 1-Click purchase 28. TIPS 29. Apps Drive Engagement, Browsing Wins on Tablets 30. Retail Category Browsing Can Vary Considerably by Platform 31. Web or App? Performance Cost Maintenance Compatibility User Experience 32. It is not enough to apply e-commerce best practices Mobile is incredibly unique Its intimate, real time and local and has to be SIMPLE and QUICK It should provide the exact answer you desire 33. Are you losing your mobile customers? 47% of users abandon checkout pages due to payment friction Too many fields Too small of a screen and keyboard Too much time Poor brand experience 34. Simple and Quick A 1 second delay in a page can reduce conversion by 7% Thats $2.5M in sales for a site that does $100K/day 35. Simple and Quick 47% expect pages to load in 2 seconds 40% leave if it takes more than 3 seconds 79% are less likely to use the site again 52% say load time is important to loyalty 36. Distractions are Everywhere 37. RESPECT THE FINGER 38. No mouse No HOVER 39. Fitts Law Search Search 40. Hicks Law Apple Apple Orange Apple Apple Apple Apple Apple Apple Apple Apple Orange Apple Apple Apple 41. Optimize Your Emails 56% of US consumers who have made at least one purchase using their smartphone have done so in response to a marketing email ExactTarget 36% 33% 31% 28% 30% 32% 34% 36% 38% Mobile Desktop Webmail Open Rate 42. Carts Across Platforms 26% of females and 16% of males abandoned a cart because they wanted to complete the purchase later 43. Starbucks is now averaging a million mobile transactions/week tenfold increase year-over-year since January 2011 launch 44. Free card reader at stores Starbucks infusion 45. Mobile POS 46. HOW NFC FITS IN 47. 53% Phones NFC-enabled by 2015 46% Mobile Phones Will Be NFC-Enabled by 2016 MarketResearch Frost & Sullivan 48. Frost & Sullivan 42.3% Europes mobile payments in 2015 via NFC 49. Visa Europe forecasts breakout year for NFC 40 Mobile contactless payment issuers in Europe (2013) 80 Types of smartphones certified by Visa 50. 500M NFC devices in use by 2014 ABI 51. Gartner Cuts NFC mobile payments forecast by 40% 52. Berg Insight One in Three mobile phones to come with NFC by 2017 53. Strategy Analytics lowers NFC payments forecast 54. NFC will not power US mobile payments: Forrester Google Wallet separation iPhone reluctance 55. Jumio updates card scanning tech for faster mobile checkout 56. FINAL THOUGHTS 57. Shaping the Future Customers spend more time on their mobile devices than desktops Mobile shoppers are more focused Click-through rates are higher on mobile than desktop Mobile shopping peaks at night The importance of the mobile web 58. The Zero Option 59. Drivers Virtual Gift Cards Wallet 60. Virtual Gift Card 61. The future of the Mobile Wallet is not in payments, but in organizing it 62. Passbook Store Loyalty cards Promotions Coupons Tickets 82,000 Sephora Beauty Insider cards added in first week 63. PayPal + Samsung fingerprint 64. Three Important Developments For The Future Of Mobile Commerce Snap to Buy with mobile image recognition Apps that go beyond simple online shopping Better engagement with brands 65. Remote Control of Shopping 31% of consumers highly trust retailers to protect their personal data. 34% of consumers are interested in scavenger hunt promotions 35% of consumers are interested in beat the clock specials 29% of consumers were interested in getting on-demand advice 66. FUTURE CURRENCY