june virtual series: the future of money
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Sheila Collins discusses the new frontier for mobile commerceTRANSCRIPT
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WELCOME!
Digital Moguls was by Kristin Bolton-Keys in 2011, when a group of marketers at a Fortune 500 company were determined to
expand their digital knowledge. Over time, the group held several classroom style learning sessions covering: Digital Marketing 101, Blogging 101, SEO
101 and Takeaways from the 2012 SXSW Interactive Conference.
Digital Moguls serves as a content hub providing innovative, intuitive and inspirational content for those seeking to share their knowledge and learn
about digital technology and trends. Ultimately connecting people who want to learn, share and create digital experiences.
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The Future of Money The new frontier for eCommerce
Sheila Collins
“THE Mobile Moola MARKETER”
June 19, 2012
Twitter: @sheiladcollins Brought to you by:
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Agenda
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> Mobile Landscape & Trends
> Money 2.0
> Mobile Shopping
> Case Study
> Questions ???
> Takeaways
Tweet questions to #digitalmoguls
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Mobile Trends
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• There are 6.8 billion people on the planet. 4.5 billion own a mobile phone. Only 3.5 billion own a toothbrush (Source:60SecondMarketer.com)
• By 2013, more people will access the web from phones than personal computers. (Gartner Group)
• Consumers will spend more than $10 billion on non-digital goods in the US on their mobile phones in 2012. (Forrester)
Share these facts on Twitter by referencing @sheiladcollins #digitalmoguls
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Offline Online
Mobile Channel
1. Simplicity
- Suited for frequent tasks, that require just a few steps
2. Immediacy
- It’s on 24x7, well suited for delivering content that matters to consumers, when it matters to consumers
3. Context
- Leverage mobile to influence purchase/redemption decisions , i.e using GPS for store location, local deals
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Mobile Channel
Example QR bar codes to drive to mobile to obtain additional information, comparison shop, and redeem
Mobile blends the online world with the offline world. It’s a personal communication and transaction platform.
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Money 2.0
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The evolution of smartphones has expanded the role of payment models .
4 mobile models
Bar code
Prepaid Peer to Peer
Virtual Currency
Loyalty Points Phone #
http://mashable.com/2012/05/02/future-of-mobile-payments/
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Who to Watch
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Several companies are leading the charge in Mobile Payments
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Barriers of Money 2.0
8 (1) The Forrester Report on Mobile Shopping (U.S. Edition 2010) - Published Jan 2011
Emerging solutions for Mobile Payment s are all at different stages
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Mobile Payments Readiness Index
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Mobile Shopping
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• Mobile coupons generate 10 times the redemption rate of traditional coupons (Source: Borrell Associates) • Google has seen mobile searches grow by more than 400% over the past year (Source: Google) • Research indicates that if someone leaves home without their wallet, they keep going. If they leave without the mobile device, they turn around (Source: 60SecondMarketer.com)
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Smart Shoppers
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A (short) Perspective on Airtel Money.
Mobile Payments in India
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Mobile Payments in India
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Bharti Airtel • Cellular, Internet, and Television services • Over 20 countries throughout South Asia and Africa • 250M Customers (Verizon, AT&T, Sprint combined) • 175 Million mobile customers in India(20% of market)
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Mobile Payments in India
February 2012: Bharti launched “Airtel Money”, prepaid mobile money product throughout India
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Mobile Payments in India
Three major customer segments…
Urban Professional
College Student
Migrant Worker
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Mobile Payments in India
Mobile Money Challenges:
Education • How do you educate customers on using money
money and the product benefits? Scale • How do you effectively reach 1.2B people? Security • How do you not support terrorism?
Purchase Power • Who is accepting Mobile payments?
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Starbucks The mCommerce Opportunity
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Value Creation Connected Commerce 26 Million Transactions*
Starbucks Mobile Payment
• Premium product • Daily transactions • Cool factor • Close loop
* December 2011 – Annual transactions
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Takeaways My Concepts for Mobile
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Social + Mobile + Commerce =
Buy Build Bond
Value Creation Connected Commerce Purchasing Power
The 3 B’s of Mobile
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The Mobile Moola Marketer’s Predictions
§ eWallets will provide consumers with dynamic real time offers
§ Self service mobile checkout will be more rampant
§ Black Friday and Cyber Monday the two biggest shopping days of the year will be one in the same in 5 years
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§ We will become a cashless society in
~ 20 years. § ????
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Sheila Collins
The Mobile Moola Marketer
@sheiladcollins www.about.me/sheilacollins
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APPENDIX
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References
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• http://techcrunch.com/2012/06/10/mobile-payments-a-trillion-dollar-industry-once-everyone-can-actually-make-a-payment/
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Mobile Payments Wiki Definition
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Mobile Payments Future
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Technology Comparison
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Mobile Payments Adoption
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• SapientNitro expects shipment of NFC enabled phones to reach 544.7 Million by 2015
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Online Shopping Business Model
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1. Advertisement & Blogs (Tech Crunch, Search, Email, social media)
2. Social Actions (Tweet, “I like”)
3. Search ( Google, Bing, Wiki)
4. Online Reviews ( Yelp, Amazon, CNET)
5. Comparison (ShopSavvy, Shopbot)
6. eWallet (Billeo, Paypal)
7. Social Media (“Like” button Facebook, Blogs)
8. Online Reviews
Social Opportunity