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Loyalty management is playing a vital role in driving up the popularity of mobile banking apps.
FREMONT, CA: Digital payments are gaining traction as more and more service providers are transforming their business models. Although digital wallets provide unmatched convenience, service providers have to convince new users to adopt the new modes of banking and transaction. Only with strategic marketing and loyalty management, banks, and financial firms can ensure that customers embrace mobile banking apps and use it on a regular basis. This has created new opportunities for marketing professionals.
Marketers can drive customers to install mobile banking apps. In addition to that, ensuring that customers use these apps during payments is also necessary. One way in which marketers can help mobile banking clients achieve success is by introducing a system of loyalty points. By introducing loyalty points, transactions through mobile apps can see an upward trend. Paying through earned points creates a way to drive customers towards using mobile wallets. Even for customers who have never conducted mobile transactions before, loyalty points can be a major attraction. Besides, marketers can cash in on the fact that consumers do not need to input personal card information to participate in the loyalty program.
While technology-savvy customers with apprehensions regarding security will continue to use digital wallets, banks find it essential to consider the best ways to drive adoption among them. Marketers have the opportunity to empower banks by helping them highlight relevant value, and the utility of mobile wallets is the most effective way that can help acquire long term users. Other opportunities that marketers can provide to steer mobile banking popularity for companies include branding with digital-wallet linked rewards, visual branding programs, and personalized messaging to ensure that customers associate the loyalty redemption event with banks.
Marketers can thus, cater to mobile banking providers and ensure that customers will be more likely to associate with digital wallets. Loyalty programs and digital campaigns for banks have created new revenue potential for marketers and will help mobile banking apps gain momentum and achieve universal adoption.