The GeoMarketing Top 5 Countdown
Wider acceptance of mobile payments at local retailers come down to two things: proximity and trust.
Whether writing about the expanded possibilities of beacons as a marketing platform for publishers or the role of online delivery services to promote local businesses’ digital presences, the main theme driving all these efforts comes down to one thing: increasing the speed of marketing between the digital and the physical.
Payments are the natural end of all successful marketing efforts. As the mobile wallet has begun to finally enter the mainstream after years of experiments by the likes of Google, PayPal, Square and others, Apple’s push last fall has helped move the concept forward. But more than the big tech companies, it’s the changing retail strategies that are truly advancing mobile payments.
Digital insights company eMarketer estimates that “the number of US proximity mobile payment users—where a proximity mobile payment is a point-of-sale (POS) transaction made by using a mobile device as a payment method—will reach 22.6 million in 2015, up 41.7 percent year-over-year but representing just 12.7 percent of smartphone users. By 2018, more than one-quarter of smartphone users, or 57.0 million people, will make a POS transaction via mobile.”
By the end of this year, proximity mobile payments will add up to $8.95 billion, more than double the $3.50 billion spent that way in 2014, according to eMarketer.
While the growth of mobile payments tied to POS seems assured, eMarketer points out that this is not a fait accompli. In addition to smarter strategies aligning payment and proximity, retailers and tech providers will need to do a lot more to allay consumers fears about how safe their financial information is at the checkout counter.
“Mobile payment providers will need to ease consumer trust issues before such services truly become the norm,” eMarketer says. Pointing to a February Cowen study, eMarketer notes that security ranked as the most important mobile payment service feature among smartphone owners worldwide, cited by 85 percent. This led ease of use and convenience as well as cost-related issues, among others.
And now, our favorite links from around the web:
- 7 Important Points In Preparing For The Internet of Things — John Soat, Forbes
- Google’s Mobile Friendly Algorithm A Week Later: Was It Really Mobilegeddon? — Barry Schwartz, Search Engine Land
- Most shoppers happy to share location data with retailers, but want more regulation on how it is used — Paul Skeldon, Internet Retailing
- Beacons could finally become a massive deal, thanks to Twitter — Lara O’Reilly, Business Insider
- How Brick-and-Mortar Brands are Using the Apple Watch — Steven Jacobs, StreetFight
Finally, onto our top stories from this week!
The release of YP Audience Extension will allow YP’s brand clients to target 70 million consumers based on desktop search activity.
Forever 21 has a giant ecommerce presence, but chose to make this digital coupon valid in-store only.
The museum is expanding its Facebook’s Place Tips to enhance its visitor experience — and that could inspire brick-and-mortars on their own in-store creativity.
As more local businesses turn to mobile marketing, their comfort with automating ad placements appears to be growing.
“Discovery” is the name of the game for local search and Digital Presence Management. For Yelp, focusing on Food Services is just a part of its On-Demand strategy, writes David Kaplan.