With 83% of top retailers providing at least one mobile offering, retailers who fail to engage via mobile are finding themselves playing catch-up. Some retailers haven’t reached a level of complete comfort allocating budget for a mobile strategy, but they haven’t stopped to consider the fact that mobile can actually save money.
Need some convincing? Check out these 5 ways mobile can save retailers money:
1) No more plastic!
The cost of printing a single credit card typically costs between $0.80 and $1.00. Factor in issuing separate loyalty club cards and replacing those that are lost or stolen, and a retailer can spend upwards of $500,000 per year on plastic production alone. By abandoning plastic and moving to an app with a mobile payment feature, which allows shoppers to pay with a tap of their smartphone, retailers will save money and make it easier for their customers to spend more. Consumers today want the easiest path to purchase, and fewer are seeing the need to carry cards in their wallet. The easier it is to purchase an item, the higher the likelihood the customer will not only complete the purchase, but also return.
2) Rewards via Push
Today’s consumers want access to their loyalty rewards at the very moment of checkout. Eliminating the need for your loyalty club members to pre-plan, print out, or carry discount coupons garners more sales. By populating each app user’s account using push notifications, your customers are more likely to complete a spontaneous purchase decision in-store, rather than waiting until they are armed with paper coupons that you’ve spent money designing, printing and often mailing to their physical address. This also creates a more personalized approach to recognizing your most loyal customers, and feeling valued is a primary driver behind a customer’s devotion to your brand.
3) Hitting the Bullseye
Mobile has better targeting and reporting capabilities than any other advertising medium. There are a variety of methods available to retailers, including geo-targeting, geo-fencing, Wi-Fi ISP, GPS, and push to a specific device’s UUID. Using a combination of these approaches, retailers can trigger personalized incentives and deals to reach their prospective or current customers based on their location, demographics, purchase patterns and search history. This can decrease ad spends and increase subsequent action after a marketing message is received. In fact, Search Engine Journal recently reported that rewards sent by push notification are opened 8 times more than those sent via e-mail, and a study by ExactTarget revealed that only 8% of consumers wait or ignore a push notification before checking it.
4) Better Branding
A great app and mobile website is an almost guaranteed way to improve your brand perception. Latitude found that 61% of people have a better opinion of brands when they offer a good mobile experience. Furthermore, 57% of people won’t recommend a company with a poor mobile experience, according to Search Engine Journal. A positive mobile experience bolsters excellent word-of-mouth marketing, a powerful influencer that costs the retailer no money at all.
5) Dynamic Digital
The brick-and-mortar shopping experience can be very static. Retailers have been working to combat this for years, refreshing merchandise displays and replacing physical structures each season. Today, proximity marketing allows retailers to create a more dynamic environment without this cost and labor. Changing and personalizing the in-store experience with digital technology is easier and more economical. With Bluetooth BLE beacons, a consumer can enter a store and immediately be directed to an area that will be the most interesting to them. One customer can have an entirely different experience than the next, with no additional investment by the retailer.
For more ideas on how mobile can help your retail business, visit www.gpshopper.com or call 212-488-2222.