Consumers Want Personalized Mobile Wallet: Study

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Consumers Want Personalized Mobile Wallet: Study

08/07/2018

Nearly all consumers surveyed said they’d save content to their mobile wallet IF it was personalized for them.

Vibes, a mobile marketing provider, released findings from its annual U.S. Mobile Consumer Report. Of the 1,000 smartphone owners in the U.S. surveyed for this year’s report, nearly 100 percent said they would save content to their mobile wallet if it was tailored to them. This suggests that a gap exists between what consumers want from brands and what is currently being offered to them.

Brands can leverage data from the report to enhance customer loyalty. According to the report, consumers are defaulting to mobile more than ever before to engage with brands - through shopping with mobile wallet, receiving personalized text messages and activating customer support through chatbots.

 

Key takeaways from Vibes’ U.S. Mobile Consumer Report include:

  • Personalization is more important than ever - nearly 100 percent of consumers say they would save content to their mobile wallet if it was tailored to them
  • Promotions are the #1 driver for consumers to use their mobile wallet - consumers are ready to go digital with coupons and loyalty cards - particularly among millennials. Feelings about mobile wallets remain mixed, although younger consumers are most willing to try them
  • Use of new messaging apps, like Facebook Messenger is steadily growing, but not yet widely used for brand engagement
  • Brands must stay current and cutting-edge - retailer, restaurant and brand apps remain the most commonly downloaded type of app, but consumers will delete apps if they are unused or take up too much storage
  • Strike a balance with message volume - consumers find text messaging useful and are enticed by value-based communications (like incentives and rewards). They will unsubscribe if they receive too many messages, however.

The findings are clear: consumers want personalization – this is what must be reflected in mobile strategy across channels where consumers spend their time.

Amid large-scale readiness to subscribe to mobile messaging and mobile wallet, consumers have expressed surprising justifications for their adoption. Just 27% of respondents said they would adopt mobile wallet if it would make their life easier, by organizing things like offers, loyalty cards or airline boarding passes. Conversely, 61% of respondents subscribe to mobile messaging because of incentives or coupons, combined with 55% who subscribe because of loyalty rewards points. Moving forward, brands should leverage loyalty offers more regularly in their messaging, rather than leaning on convenience, to promote further adoption of these channels.