Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
Marketing and Selling to the New Mobile Customer
Sales of smartphones have reached the tipping point, with more and more consumers doing their shopping not only online, but mobile as well. With the iPhone and a whole new crop of smartphones on Google’s Android operating system, we’re likely to look back and see the 2010 holiday shopping season as the tipping point for mobile payments and mobile commerce.
If you have a business, here’s an overview of the tools you can use to go mobile with your business:
- Reinvent your website for the mobile platform
- Do local search engine optimization
- Consider doing an SMS marketing campaign
- Create an app
- Use video advertising
- Use social media marketing
- Begin offering mobile payment solutions
- Offer deals with mobile coupons
- Get on board with Quick Response codes
- Ask your customers to review your business
Read the details here: