Wallet advertising is the key to cheap response rates.
If your business does NOT have an unlimited advertising budget, you are not alone. I don’t actually know of too many (haha, I am not sure I know of any that are left any more to be honest) that don’t have caps on spending that’s unsupported by sales.
Using wallet advertising is the most simple, effective way to cheaply and easily get a fantastic response rate to your customer messaging, and really get your prospects energized to interact with your Call to Action.
Wallet advertising, iBeacons, other beacons, these are all virtually mainstream enterprises already. Gimbal, one of the original beacon manufacturers that was spun off from Qualcomm (if you have a cell phone you are using Qualcomm products, that’s how big they are) was purchased recently by an advertising company. Not particularly news unless you’re in the advertising business, but it goes to show that mainstream ad companies are already seeing the benefit of controlling the beacons at the hardware level, not just at the software point.
Let’s take a quick look at the cost of using wallet advertising:
First step is easy – find a platform provider, like MobileWalletMarketer.com, that offers the service. I suppose you could have your own software written, but that’s horribly expensive – you might as well spend $40,000 writing your own app instead. And another $100,000 marketing your downloads… then you’d be in the ballpark, but only barely.
For the sake of keeping the article on track, I’m going to assume you’re using a service and you’ve selected a reasonable service plan – let’s go with $100/month to make the math easy (for me, not for you!).
You’re going to need a couple of graphics – one is your logo, the other is either a square or a rectangular image that are simple, crisp and clear at small sizes (remember that mobile phones aren’t very big!). Perhaps this will cost you $10 on Fiverr if you don’t know how to use Canva or something similar.
I’m also going to assume that you’ve got a website, an email, a phone number, a physical location, a Facebook page, a Twitter account, maybe Instagram, Pinterest, YouTube, LinkedIn, Snapchat, or who knows what else – but you’ve got to have somewhere to send the traffic – this really isn’t a negotiable situation.
The next hurdle is getting your wallet advertising into mobile phones.
This one is pretty simple – you ask people to add your wallet advertising to their mobile phone wallets. I know, sounds crazy, eh?
Here’s a quick list (probably not a complete one) of ways to get your prospects to add your wallet advertising to their mobile wallet –
- Email – add a link in all of your emails
- SMS – add a link in all SMS messaging
- Website – add a link and the QR code
- Print collateral – insert the QR code and the short URL into the print materials
- Social media – add the link to your main social media pages, Tweet about the link, etc
- YouTube or Vimeo – add the link to your end of your video or in the captions
- Google My Business – add the link as a web link in your page info
- Podcast – add the link on your iTunes, Stitcher, etc and mention the short URL in your podcast
Yeah, see, not very hard to do at all.
How do you get people to respond to the wallet advertising?
Again, really simple. Send a lock screen message to them. Here’s one of our podcast updates on iPhone.
When someone swipes the lock screen message (and they will, believe me!), they’ll see your wallet advertising appear (like magic lol!) on their phone screen, and they will (in large percentages compared to email, banner ads, etc) actually take an action.
Here’s a screenshot of the back of our podcast wallet advertising – we simply let people know that we have a new episode and offer them a number of options for listening to it.
We’re kind of crafty, since we also give listeners a chance to be interviewed on our podcast. They can talk about their business – if it’s mobile based – and hopefully in the interview they’ll be asked about mobile wallet advertising and how they use it in their business… and they’ll say good things about us.
That pretty much sums up how simple and easy it is to create, manage and use mobile wallet advertising for your business.
You can spend well more than that on a single Facebook ad that might not net you any actual results – no clicks, no visitors, no lead form responses. Or you can use the mobile wallet ads to help drive users to sign up for your mailing lists, or fill in your forms. You can get more people to watch your video marketing, or Like your fan or brand pages.
Your creativity if really the only limit to what you can do cheaply and easily.