From Awareness to Purchase: Mapping the Mobile Wallet Marketing Funnel

As mobile wallets become the standard for modern shoppers, they are also transforming the ways marketers engage with their customers. With the unique ability to seamlessly integrate into a shopper’s journey, mobile wallets offer a direct pathway to guide customers from awareness to purchase. 

1. Awareness: Getting on the Customer’s Radar

The first stage in the marketing funnel is all about keeping your brand top of mind for potential customers. Mobile wallets serve as an effective tool for building awareness through targeted ads and promotions. By distributing mobile wallet passes, brands can share relevant offers and promotions to encourage people to try their products. 

2. Consideration: Engaging with Offers and Reminders

At the consideration stage, potential customers are considering your brand's products or services. Here, the focus shifts to engaging customers with messages and notifications to keep them interested. Once a pass is saved to someone’s mobile wallet, brand marketers can send messages directly to shoppers’ smartphones through the pass itself. These messages are less intrusive than traditional ads but highly effective due to their personalized and convenient nature.

3. Intent: Strengthening the Resolve to Buy

By this stage, potential customers are interested in purchasing, and the objective is to reinforce their intent and make the buying process as seamless as possible. Providing additional incentives or reminders here can help solidify their decision.

Brands can accomplish this through time or location based notifications in the mobile wallet. For example, a message like “last day to enjoy 20% off your purchase” or a “get your free soda before it’s gone,” might encourage redemption and purchase before a pass expires.

For location-based messages, brands can remind customers to redeem their promotion when they’re near or already shopping at a particular retail location. For example, they might receive a lock-screen message that reads, “Don’t forget to save $2.00 on your Glam Haircare purchase!” while they are out shopping.  

These contextually relevant nudges can be the determining factor in inspiring a customer to take action.

4. Purchase: Streamlining the Final Step

The final step is where potential customers become actual customers by making a purchase. Mobile wallets can streamline this step by making the payment and redemption process quick, easy, and rewarding. 

With digital loyalty cards, coupons, and payment methods all in one place, mobile wallets simplify the purchasing process. Customers can check out in seconds without the hassle of physical plastic cards or paper coupons. Mobile wallet passes can be used with a simple scan or tap, making the process quick, easy, and convenient. 

Beyond the Funnel: Retention and Loyalty

Once a customer makes a purchase, mobile wallets remain a powerful tool for driving retention and loyalty. When a mobile wallet promotion expires, it can be updated to feature a new offer or promotion, thus encouraging ongoing engagement with the brand and repeat purchase. Additionally, enabling digital loyalty programs, exclusive rewards, and timely reminders, brands can encourage customers to come back, further deepening their connection to the brand.

Key Takeaways

Mobile wallets provide a streamlined way to move potential customers through each stage of the marketing funnel, from awareness all the way to purchase. By offering convenience, personalization, and real-time engagement, mobile wallets effectively enhance customer interactions, simplify the shopping journey, and increase sales.