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If you want your business to keep up with the times, you might want to make mobile-minded marketing a priority. Cell phones are becoming an increasingly common way for consumers to follow their favorite brands, hear about offers, and use coupon codes. One way for business owners and aspiring entrepreneurs to take advantage of this trend is through mobile wallet marketing.

Mobile wallets are apps, most notably offered through Apple and Google, that keep bank information on your phone and allow you to use digital Apple or Google Pay cards to purchase items. The use of mobile wallets is more than just a passing fad. After the first digital wallet was introduced in 2011, mobile payment apps have generated millions of users. That’s why mobile wallet marketing is so crucial for businesses today.

Want to bring your business to the next level? Keep reading for some statistics and benefits of mobile wallets that you should consider in your marketing strategy.

Mobile Wallet Marketing Statistics

To give you background information on mobile wallets and their importance in marketing, here are some facts and figures to keep in mind:

• By 2022, the global mobile wallet market is projected to reach at least $3 trillion.
• In 2021, the number of Americans expected to use mobile payment methods will reach over 100 million.
• From 2020 to 2025, Apple Pay is projected to add 4 million users, with Google Pay not too far behind at 10.2 million.
• Currently, 32% of consumers have three or more mobile wallets downloaded.
• In a 2018 survey, almost all of the participants reported that they would add mobile wallets to their phone if the content was personalized.

Mobile Wallet Marketing Benefits

Evidently, mobile wallets are taking off around the world. To find out how to make good use of this trend, check out these advantages mobile wallet marketing can offer your business:

• With the ability to track points at your fingertips, mobile wallets make customer loyalty programs accessible and appealing.
• Your cell phone knows your location, so mobile wallets can provide consumers with the most relevant content and offers.
• In addition to location, phones have the ability to monitor a user’s preferences and interests and show them mobile wallet content accordingly.
• Rather than flipping through magazines or emails, mobile wallets allow customers to easily store and use their coupons.
• The ability to provide push notifications and real-time updates on mobile wallets makes it more likely that customers will know about your offers and make purchases at your business.

Now that you know the facts and advantages of using mobile wallets, you can hopefully add this technique to your business strategy.

Want to gain even more insight? Check out the infographic from CleverTap below for all the information you need about mobile wallet marketing.