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28/12/2012 by
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Mobility Is Necessary In Your Small Business Marketing

If you have been crafting your small business marketing plan for the coming year, would it include mobility?

mobile payment smackdown square vs paypal here 68650ae7ab 500x281 Mobility Is Necessary In Your Small Business Marketing

For those that said marketing mobile payments, they are likely not alone. In fact, it could be one of the best moves over the next 12 months, with the mobile payment industry seemingly ready to take to even newer heights.

According to an eMarketer report, the entire transaction value for mobile payments nationwide by the end of this year will be some $640 million, with the industry expected to increase to more than $62 billion in 2016.

The firm also predicts that when 2012 ends, the average user of mobile payments will have spent around $62 with their phone this year, a figure that is projected to grow to more than $1,290 in 2016.

Another forecast, this one via IDC Financial Insights, predicts that while a relatively small portion of the market now, global mobile payments will surpass $1 trillion worldwide over the next five years.

google wallet 05 26 2011 500x346 Mobility Is Necessary In Your Small Business Marketing

So, if you offer your customers mobile payments already or are thinking about going down the road in 2013, how should you market such plans?

Among the highlights you should point out in marketing to current and potential customers:

Flexibility and rewards
With mobile payments, consumers do not have to carry a large amount of cash around with them. Mobile payments can be done almost instantaneously, allowing the customer to come and go quickly.

For the small business owner, such flexibility oftentimes leads to impulse buying on the part of the consumer, who feels more apt to make additional purchases without needing cash on hand.

Another positive facet of mobile payments is there are tools available to let you send text messages to consumers, encouraging them to purchase goods and services. Add in a personalized follow-up message, along with compiling data and rewarding customers for frequent purchases with rewards programs, and you can have set customers for some time to come;

Purchases can be done pretty much everywhere
Back in the day when consumers had to physically go to a store or other venue where products and/or services were sold, business owners were counting on the customer coming to them.

With mobile payments, business owners can go to the customer and then some. If you own a small business and attend conferences, trade shows or do visits right to a consumer’s office or residence, a mobile payment can literally be done in a minute or two.

The customer is pleased because they did not have to travel to your business and make a traditional point of sale (POS) purchase. You are happy because you can sell while on the road, breaking your ties to the POS way of doing things;

Security
One of the critical points of emphasis in marketing mobile payments is that the customer’s data will remain protected while using their mobile phones.

In a day and age of identity theft, it is not uncommon to hear of those consumers who fear a mobile payment transaction could compromise some of their personal data.

Make sure whichever mobile payment vendor your business goes with can deliver on security, leaving both you and your customers at ease.

My Opinion
With the world of mobile payments seemingly going nowhere but up, how you market the industry to your current and potential customers could determine if you go along for the ride.

What About You?
As a marketer, what plans does your company have in 2013 when it comes to marketing mobile payments? We’d love to read about your directions in the comments below.

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About the author
Dave Thomas, who discusses subjects such as mobile credit card processing, has more than 20 years of experience as a business writer.

 

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Comments (3)

  • Rick Noel 28/12/2012, 20:45

    Nice post Dave. I agree that mobile marketing is a no-brainer. The key for SMBs is knowing how to get started. Mobile payments and rewards programs are compelling reasons for SMBs to get on board the mobile marketing express, not to mention that for mobile ads, it is still very much a buyers market.
    Thanks for sharing.
    Rick @eBizROI

     
    • Igor Beuker 04/01/2013, 19:10

      Hi Rick and Dave

      How do you see these steps for SMEs? First use the Foursquare and other mobile free features?

      I do agree with you mobile is the no brainer, but as old guy I see similarities with the web 20-10 years ago: Big brands first bought a website (digital brochure). Later they made it interactive and much later also e-commerce. Next online advertising became big. In the late stage, SMEs also launched a cheap website and now some free social pages and some even email newsletter + webshop.

      Won’t mobile be the same curve for SMEs?

      Today, even big brands do not yet have a mobile presence.

      Looking forward to read your opinions.

       
  • Dave Thomas 04/01/2013, 19:22

    Rick and Igor,

    Thanks for reading. I would note as in the story that security is of utmost importance. As a consumer, I am much more inclined to work with companies and products where I know my personal data is not going to be compromised. Companies that have or are going mobile must stress security in order to keep and acquire new customers. The other interesting facet is how quickly things change. With many companies still not jumping on the mobile bandwagon yet, they may arrive too late, finding that there is already a new means for shoppers to use in order to buy products and services. 2013 will prove an interesting year to see just how mobile some companies are.