Mobile wallet advertising is one of the most powerful and least saturated marketing channels available today.

If you haven’t run your first mobile wallet advertising campaign yet, don’t despair.  There’s still time to get ahead of your competition, start interacting with prospects, and begin closing more sales and getting more referrals much more easily.

That’s right – these three important things are why mobile advertising works.

#1 – Start interacting with prospects.

It used to shake out like this, you’d be a guy (or gal) in sales, people would come to your store or other location, you’d chat them up a bit, and they’d ask you a few questions.  Then the decision would be made…  did they want to buy from you?  Or did they want to keep shopping for price, a friendlier face, a more knowledgeable salesperson, etc.

[LISTEN: How Mobile Affects the Shoppers Journey – PODCAST EPISODE]

In the current climate, you can just throw all that out the window.  Heck, toss the baby out with the bath water, since no one is interested in coming to your store until they’ve already done a bit of research about you and the product they might want to buy – online, most likely on their mobile device.  Perhaps even on their computer AND their mobile device.

They’ll want to know if you have the goods in stock, what options for colors/sizes/configurations you may carry, how long it will take to heft the item up and into a bag or out to the buyers car, and what sort of return policy you’re providing in case they get it home and it’s not quite the shade of blue they expected when they looked around their apartment with nearly colorblind eyes.

OK, OK, you get the point, so I’ll turn this one around – somewhere in the neighborhood of 70% of research prior to purchase is done online, and more than half of that is done on a smartphone or tablet.  So get your business into Google Local Business and Facebook Business, if you do nothing else at all.  I’ve talked about this extensively in other posts, so feel free to check them out.

Using mobile wallet advertising enables you – the merchant, the seller, the guy with the goods who’s trying to find a buyer – to let prospective purchasers know when you’ve got a situation change, want to send out more info about the product, or some other nifty bit of kit that you’re thinking will reel them in faster or put the final screw to them.

#2 – Close more sales.

By offering your prospects a more involved, interactive opportunity to get valuable information pushed directly to their phone (often right when they are looking for that info), you’ll gain their confidence, provide them with valuable educational information, and become a trusted source for a reliable inside scoop when they’re getting ready to make a purchase.

You can also decide to present coupons, flash sales, discounts, etc to prospective customers using their phone as the notification mechanism – there are a number of studies that demonstrate how a well placed and timed lock screen ad can drive consumers to complete a purchase nearly immediately; even in the case of a purchase they weren’t specifically looking to make.

[LEARN: 3 Steps to Creating Your Mobile Marketing Strategy – WORKSHEET DOWNLOAD]

Location, proximity and time are your friends.  iBeacons, geofencing and time based notifications are something that can’t be replicated with email marketing, newspaper advertising, radio spots or TV bits.  It’s simply not possible from a tech standpoint today.

Sending a triggered message to a phone or wearable such as the Apple Watch can be the difference in getting a sale or giving it to your competitor.

#3 – Get more referrals.

The real key to effortless sales is to generate referrals from your existing customer base.  There are any number of ways you can do this, but probably the most simple way is to ask.

That’s right.  Ask a customer to refer you to three friends, co-workers, neighbors or family members.  Better yet, ask them to refer you to five of these!  If you’re the shy type, ask them each month to refer you to one person, but make sure to do it every month.

[CHECK OUT: Mobile Wallet Advertising Passes Made Simple]

How do you ask them?  Use the mobile wallet advertising pass, silly!  That’s one of the GREAT things about the content on the front and the back of the pass – it’s easily changeable, completely customizable, and depending on the plan you selected, it probably won’t cost you a dime since it’s part of your existing package.

That’s it, in a nutshell.

Nothing fancy, nothing complicated.  Just some basic blocking and tackling that’s super easy to implement, and shows definite, cost-effective results on a scale that very little in the advertising world can match.

Mobile wallet advertising passes are the simple way to differentiate your brand, business or product, provide a much appreciated service for your prospects, and boost your bottom line at the same time.