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Today social media has become a very powerful marketing strategy. Entities ranging from local business to international corporations have a presence in multiple social media platforms. It is the quickest way for promoting content or promulgating information. Over 4.2 billion peoples access social media on mobile device. For businesses promotions it is also necessary. We can term 2014 as the year of mobile wallet because an advanced as well as robust direct marketing channel was set up which will help businesses to generate lead, gain traffic and increase customer loyalty as well. Companies are availing outsource developers to build robust mobile wallet as a solution to meet their ever demanding business challenges. What is this? Mobile wallet is an application where all the payment and nonpayment wallet contents can be stored or organized or accessed. Customers have to put their loyalty cards or coupons to their mobile wallet and the technology will solve the rest. When customers approach to store the relevant information automatically appears in their phone providing them one swipe accesses to the relevant mobile passes. This helps consumers to drive in store traffics for businesses. Direct Marketing Channel There is a demand for businesses for providing wallet solutions to help consumers better organize or access contents through their smart phones. Corporations can create or deliver personalized, unique contents based on consumer preferences and their spending behaviors. Example, shoppers who frequently purchase certain brands of chocolate may receive notifications about discounts on that brand. Information gathered on social profiles can also be used for designing tailored messages to consumer. Mobile wallet is like a game changer in this marketing realm. The traditional marketing difficulty is gauging a campaign success. Through mobile wallets a business gets access to a big data. This can be used to help businesses advance their marketing game plans. Traditional coupons which are concealed in leather wallets are static whereas the wallet contents are dynamic. It can be used once only. After mobile wallets, coupons can be redeemed and businesses can be updated to display future discounts. Here customers get notified immediately. This versatility and dynamism creates large opportunities for businesses for employing marketing strategies. Social Media Marketing For capitalizing viral features of social media, businesses create content which drives users to share it in social network. Here, execution is very important as it includes timing, necessary messaging and right audience as well. Now businesses can post their scan-able codes on their social media pages, where their customers can immediately add mobile wallet contents. Then customers will be able to share it in their social networks which in turn lead to explosive exposures. With the increased mobile shopping and mobile payments, mobile is the place where a business needs to gain authority. It has been estimated that within next 5 years, approximately 50% of the smart phone users will pay bills through mobile devices.
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