Once upon a time, PunchTab was focused on serving up loyalty programs and giveaways to bloggers and small businesses. And we served them well. We had a WIDE range of users from wig stores and e-cigarettes, to major EDM music communities and Bible software producers. And when we were kicking ass at giveaways, our biggest competition was a company called Rafflecopter. Fast forward to 2014. PunchTab has shifted focus to the exciting challenge of helping CPG brands better connect to, understand, and communicate with consumers. With a new CEO, some fantastic advisors in the space, and our finger on the pulse of consumer trends, we’re all hands on deck with our CPG customers. And so, we needed to retire some of our early products. Last week we officially announced the retirement of the last of them: Our free Giveaway Widget is no longer. As expected, some of our users were quite vocal about this on social. Some were mad, some were sad, some wished us the best.
This post originally appeared on Loyalty360 Jim Tierney.
Customer engagement via mobile wallets has been a hot topic in recent years as marketers attempt to cash in on consumer expectations and deliver easy and convenient customer experiences.
Is the mobile wallet a burgeoning form of customer engagement and customer experience that is here to stay?
PunchTab wanted to find out the answer and recently released a fascinating report that examines customer experience with mobile wallets thus far, and consumer perceptions and expectations regarding this new payment option. PunchTab surveyed more than 1,000 U.S. consumers and gleaned a few interesting insights.
Among all customers surveyed, 24% of smartphone owners have used one or more mobile payment apps to make a purchase. Of these users, the two most popular mobile payment apps were the Starbucks App (29%) and Google Wallet (25%), with Visa Checkout (10%), PayPal Wallet (9%), Square Wallet (6%), Apple Pay (4%), SoftCard (2%) and others (15%) trailing the leaders.
Well, that didn’t take long.
Not quite three years ago, Starbucks announced their new mobile payment solution, rolling it out to a few major markets and Target locations. Google Wallet followed close behind, and then this September – as if they’d just been hanging around waiting to see how this whole mobile pay thing would go – Apple Pay joined the mix, accepting mobile payments at stores like Target, Panera, and many more.
Once Starbucks proved that mobile pay stood a chance, it was only a matter of time before others jumped on the bandwagon. But Apple probably stands the best chance at upsetting the – um – apple cart. (Bu-dum-ching!) Especially when other retailers seem hesitant to make a move.
Why is that? Could it be that they don’t see the value in mobile pay just yet? Okay, so consumers aren’t exactly flocking to sign up. Even Starbucks is only doing 15% of its business via mobile pay, right? Eh-um… that’s 6 million transactions a week!
But it’s not always going to be like this.
Sneak in While the Window is Open
It’s a fragile moment retailers are livingnow, whether they realize it or not. Smart retailers have been working on mobile pay solutions all along, but the smartest will be those who seize this opportunity to gain a strong foothold while the competition – fierce though it is – is limited. Again, it’s not always going to be like this.
Consumers have a lot of information at their disposal nowadays, which means retailers have to work harder to keep whatever edge they have. But forewarned is fore-armed, as they say, and our 2014 Holiday Shopping Season Report is chock-full of informational weapons for retailers to wield throughout the busiest season of the year.
While a small fraction of shoppers – mostly Baby Boomers – start as early as September and October, it’s November that is actually the busiest shopping month. December’s not too shabby either.
The three biggest shopping days of the year fall in the latter two months:
- Black Friday
- Cyber Monday
- Christmas Eve
More than half of shoppers will jump on Black Friday and Cyber Monday specials (especially Millennials on Cyber Monday), but a quarter of shoppers will be scrambling for last-minute gifts on Christmas Eve, so save some deals for them.
Seniors. Boomers. Xers. Millennials. Posts.
Brands spend a lot of time figuring out how to effectively market to each of these demographics. But is it time well spent?
Understanding audience is essential, of course, but there’s no magic formula. And you can’t possibly market to everybody at once, nice as that would be. Yet that’s what you’re doing when you let yourself get lost in generational theory and abstractions.
It’s like trying to get to a specific address with a map that only shows you what state you’re in. The details are pretty crucial to your success.
Let’s say you have a product or service with broad appeal, and these three potential customers:
- A single white mom who’s 27
- A married Hispanic man who’s 31
- A 19-year-old college student
Can you use the same messaging or incentives on all three? Of course not! Yes, they’re all Millennials, but that one common trait is nothing against all of the things they DON’T have in common.
So how do you reach them?