Copyright 2012. All rights reserved, Mobile Wallet Media, Inc. News & Opinion on the Future of Mobile Payments & Commerce!
Sponsor Spotlight Coming Soon! >>
About Mobile Wallet Media
Key Takeaways and Quotes from Mobile Engagement In Retail Conference
The key to commerce shall be the seamless completion of the value and convenience chain for consumers and merchants alike.
How may Google, Facebook and First Data disrupt Daily Deals? Will EVOLUTION lead
to REVOLUTION? How about M&A?
Can one live on deals alone?
PayPal, Google Wallet, ISIS, Square & more. What are the barriers to adoption and how they may be overcome?
Where will payments be in 2020? Will mobile over take cards & cash? Learn how a 'Secure, Social & Rewarding' wallet will disrupt it all?
NFC is Tortoise and the 2D Bar Code is the
hare. Retailers, simplify the myriad of choices!
Learn how DISRUPTION is RIPE for 2013!
Cause Commerce can set you apart! Learn what it is, why it will soon be, non-optional, and how it will add to your Social Brand.
Loyalty LIKE Never Before!
Companies and leaders, to remain relevant and profitable, must embrace innovation or risk becoming irrelevant or extinct.
Top 5 Killers of Innovation!
Connect the dots! See the big picture!
If your Mobile Strategy is unclear, you may be
missing key pieces. Get a holistic perspective.
The Mobile Engagement In Retail Conference, in Denver on September 13-14, was a very well-rounded event. I gained new insights from experts in mobile: retail, advertising, loyalty and payments.
By Randy Smith,
Mobile Wallet Media
September 26, 2012
About Mobile Wallet Media
Mobile Wallet Media is a news media, analyst, marketing and consulting firm focused on the future of mobile: payments, marketing, loyalty commerce, security, prepaid, virtual currency, daily deals and the convergence of them all with social and local. The Chief Editor, Randy Smith, was the primary founder, inventor and former CEO of MobilePayUSA, a TechCrunch Disrupt Startup Alley Winner.
The convergence of Social & Rewards is here!
Learn how Top of Mind & Automation will rule! Maximize, Mobilize & Unify Ads & ROI!
Mobile Wallet Media is a news media, analyst, marketing and consulting firm focused on the future of mobile: payments, commerce, daily deals, security, loyalty, marketing, prepaid cards, virtual currency and the convergence
Digimarc's, Ed Knudsen explained how Digital Watermarks work much like a QR code scanner. Their app is called "Digimarc Discover App" and is avaibable for iphone and Android. To sum it up, the technology works by scanning digital or print images. Digimarc's code is not visiible to the human eye, but when scanned, works like a QR code. The user may be directed directly to a web page about the product or image content, page to buy the product featured or a coupon with a 1D or 2D bar code. It seems like the scanning of a Digimarc code takes just about as long as scanning a QR code. So for use with mobile phone or tablet app scanning, why are they better than QR codes?
Digimarc's Digital Watermarks are currently not better than QR codes, only because they are not understood or even perceived by consumers. When consumers see a QR or 2D bar code many if not most tech savvy cosumers recognize what they are and have used a scanner on their phone. This is not the case with DigiMarc's technology. However, QR codes are everywhere and are just plain ugly and do not work well to compliement beautifully crafted images.
So it appears that all Digimarc needs to do is ramp up their publicity and media campaign to educate consumers, retailers and advertisers about their very cool and seamless tech. They have already struck big deals with major companies. Their use on Pinterest, the 3rd largest social network in the world with 104 million users, 80% of which are woman and half moms, is quite a compelling use of their tech. Digimarc's technology is also used for ID authentication and to prevent currency counterfitting. Think of how different the world might look without ugly QR codes and with the branding and advertising possibilities with Digital Watermarking. I don't think they will replace QR codes displayed for scan at POS.
Could Digital Watermarking replace QR or 2D barcodes? After seeing how Digimarc's technology works, my only question is why wouldn't it replace QR codes for some uses? It seems all that is needed is a branding and education campaign to make their tech dominant.
Key Quotes from Speakers
Asif Khan, the Founder and President of LBMA (Location Based Marketing Association) served as a Moderator for most panels and kicked off discussion on mobile marketing by sharing metrics on ad spend: "76% of ad spend is still on traditonal media, 24% on digital and only 6-8% of this digital ad spend was on mobile." Asif went on to share about companies to watch such as Shazam, tying offers to TV ads, Google Goggles and StarHub Media which matches music to style of clothes and pairs them with offers. Alexander Muse of ShopSavvy shared that his firm ran a campaign that got a click thru rate of 30%.
Emily Murphy of Forrester Research shared "Top two goals with loyalty are profitibility and retention . . . 63% of consumers want instant discounts . . . cash is the biggest motivator to share personal data . . . between 2008-2011, 30% of consumers saw loyalty programs as being less valuable . . . Mobile can help retail loyalty stand out . . . expects to see more of coalition loyalty."
Ed Busby of ISIS shared by 2016 there will be 700 million smartphones in use worldwide . . . by 2017 43% of all terminals (in US or Worldwide?) will have NFC . . . In the U.S. the ISIS Carrier network has 200 million subscribers and 20,000 retail outlets . . . The carriers came together because they believed they could not do it alone."
Dhana Pawar, the Director of Mobile for Coupons.com shared "we serve 2,000 brands and power 65,000 coupon sites . . . there is a 55% smartphone U.S. penetration rate and in 2011 smartphone users spent 94 minutes on mobile daily vs. 74 minutes daily on PC's . . . The Zero Moment of Truth is the point at which purchase decision is being made."
Kate Beasley, the CEO of Connexio shared "Customer experience is going to get customer back . . . Customer can buy poor product, but if they had good experience they will return . . . interrupt showrooming before Amazon redirects sale by interacting with mobile customer . . . Don't misuse data or customers will take business elsewhere."
Bryan Wargo, CEO of Nearbuy Systems shared "93% of all transactions still take place in the store and there is going to be a paradigm of using online analytics in store . . . (Regarding privacy) doing the right thing ethically, not just legally, will produce more sales."
Tim Williams of Cabelas shared "It's important to know who customers are and what they are doing in the store - Have they been there before? - Do they have a store credit card? . . . There is a fine line between creepy and helpful . . . Big Data and Mobile Wallet go hand in hand . . . Firms should have Omni-Channel Marketing Managers."
Al Callier, VP of Strategic Innovation & Emerging Technology for Universal Orlando provided several key insights as he shared "We found that consumers wanted to use mobile app in car and they preferred scrolling over clicking . . . Customers wanted on app menus for ALL restaurants as this saved Mom's time from having to walk all the way across the park to see if a restaurant had chicken nuggets . . . What does our mobile reality look like? - 20% of attendess download mobile app, about 1/3 people have a tablet at the park . . . Favorite features - enable party to know where everyone else in party is at in the park, help remembering where I parked, FaceTime for customer service . . . 4-8 key feature sets is all that may be offered . . . transparency is harsh but helpful . . . Digital is a new team sport - marketing, IT and operations must work together tightly . . . Evolution vs. Revolution gives better potential for ROI."
Jeff Maddock of Motorola Solutions shared "Optimal shopping experience is to convert browsers to buyers . . . 75% of time if customer can't find it in your store, they won't buy it . . . The in-store WLAN is the foundation of future business . . . For the first time in history customers know more about your store than you do . . . Understanding what customers are doing via social can be leveraged to close sales or know how you are doing good job . . . Thru WIFI you can know who customer is and what they are looking for or know if they are showrooming . . . With WIFI you'll have much more bandwidth and won't draw from customer's bandwidth."
Daniel Israel, Strategy Lead - Mobile & Multi-Channel for SapientNitro shared "People will treat retail more like showroom . . . Footfall is closing loop before and after visit . . . front door for retail is the smartphone - people that started on mobile wanted to continue on other mediums . . . 70% of all teens have a smartphone."
Josh Marti, Co-Founder & CEO, PointInside shared "Mobile is about influencing intent - in Denver for first time, offer could be delivered by Chili's plus display local restaurants - or offers by retailers could be made to move abundant or slow moving inventory . . . retailers need to use GPS device history to personalize mobile front door."
Panel on the Mobile Wallet and Mobile Payments
Moderator Paul Levine, Managing Director and Founder of Vector Media
Mordy Kaplinsky, Co-Founder, FonWallet Transactions Solutions
Gary Schwartz, CEO, Impact Mobile & Chair of the Americas at Mobile Entertainment Forum
Vic Miles, Retail Technology Strategist, Microsoft
Mod question: Between major players, who is doing best job?
Gary: "There will not be just one winner - ISIS may become transit wallet - He favors Amazon because they are pro-consumer and their trust factor will aide in their success."
Mordy: "This about more than just payments - I see wallet more as a container - I like V.me, Square for analytics and Google Wallet."
Mod: What are the best security measures?
Gary: "One overarching standard is tough task . . . Privacy will always be a concern . . . Mobile Wallet is perceived as being very personal to consumers."
Vic: "Biometrics could be the standard . . . Cost is the big driver . . . Lower interchange fees will produce hockey stick . . . We have 600 million users on Live ID."
Mordy: "EMV not adopted in the U.S. in 70's because we could authorize transactions."
Gary: "Mobile always gets reported on page one."
Murdy: "If sharing of data is abused then trust will be broken."
Vic: "Granular control is key for consumers - If we firewall the wallet, then the consumers will be open."
Gary: "Interchange is dead as a tradeoff for data - Mobile Wallet gets paid on value of data and banks still get interchange."
> Coupons.com has huge connections to major retailers and a future in all Mobile Wallets.
> FonWallet may have significant IP in the Mobile Wallet infrastructure space.
> Don't count out the 'Sleeping Giant' Microsoft from the Mobile Wallet race (especially in light of news).
> Everything is going mobile and having an Omni-Channel focus in now required.
> Engaging customers via WIFI and mobile app are key to close sales and disrupt showrooming.
> Must create seamless customer experience between ALL SCREENS to ENABLE COMMERCE.
> Convenience and Trust of Consumers via mobile is key to future of commerce.
> Mobile app's are used to build relationship with customers, answer questions and close sales.
> Pairing proximity with personal interests and past shopping behavior is the new future of analytics.
> Chris and David of M for Mobile run a great event!
About M for Mobile
M for Mobile publishes news and events for those involved in the mobile industry, primarily mobile technology. Through high-end B2B conferences, we connect people across the industry, provide market leading intelligence and enable companies to capitalise on emerging business opportunities in location-based services, tracking, NFC, mobile advertising and mobile payments and much more.
M for Mobile was created in February 2012 by uniting two established conference brands; NFC Insight and TheWhereBusiness. Through continuous independent research with hundreds of companies and dedicated journalists, our news portal keeps you one step ahead of an industry in flux, and our events provide key networking forums for the industry.
Through an unusually high level of support from leading companies we provide opportunities to connect with typically unobtainable executives. Over the past two years we’ve brought together senior execs from companies such as Google, Fedex, Ogilvy, Yahoo!, MasterCard, Nokia, Apple, Microsoft, MTV, T-Mobile, AT&T, TomTom, BBC, Orange, Visa, BMW, Vodafone and many, many more!