It’s no surprise that social media has become a powerful marketing strategy of its own. Entities ranging from international corporations to local businesses have a presence on multiple social media platforms. The viral nature of social media makes it the fastest way to promote content and promulgate information. With more than 4.2 billion people accessing social media on mobile devices, businesses need to promote valuable and attention-grabbing content. 2014 is the year of the mobile wallet: a robust and advanced direct marketing channel that will help businesses generate new leads, get more traffic and increase customer loyalty.

What is Mobile Wallet?

It is an application where you can store, organize and access all the content of the paid and non-paid wallet on smartphones. Customers put their loyalty cards and coupons in their mobile wallet and the technology solves the rest of the equation. As customers approach stores, relevant information automatically appears on their phone’s lock screen, giving them one-touch access to the corresponding mobile pass. This provides great value and convenience for consumers and helps drive in-store traffic for businesses. Simply put, a mobile wallet enables personal interactions with customers that help businesses build their brand presence.

The new direct marketing channel

There is a growing demand for companies to provide wallet solutions that help consumers better organize and access content on their smartphones. Studies show that 94% of loyalty program members want communications from the programs they participate in, and 67% would join loyalty programs if they could sign up instantly. It is clear that the demand for smartphone wallet solutions is high.

And the mobile wallet is a game changer in the realm of marketing. Companies can create and deliver personalized and unique content based on consumer preferences and spending behavior. For example, shoppers who frequently purchase a certain brand of chocolate can be notified of discounts on that brand or even deals on related products. Even the information collected on social profiles can be used to design personalized messages for consumers, messages that are more relevant, effective and lead to real and measurable action.

The difficulty of traditional marketing is in measuring the success of a campaign. With the mobile wallet, businesses have access to big data, such as the amount of wallet content added to smartphones, the number of transactions being made, and much deeper analytics. This information is valuable and can be used to help companies move forward with their marketing plan.

In addition, the content of the portfolio is dynamic. Traditional coupons hidden in leather wallets are static; they can only be used once and are discarded. Even after redeeming mobile wallet coupons, businesses can update them to show future discounts, and customers are notified of new offers right away. This dynamism and versatility creates a wealth of opportunities for companies to employ new marketing strategies within a single campaign.

The mobile wallet and social media marketing

To capitalize on the viral characteristics of social networks, companies must create content that not only attracts attention, but also encourages users to share it on their social networks. Word of mouth is more powerful than one can imagine, so combining mobile wallet with social media is an extremely effective marketing tactic that will increase brand visibility. Execution is important – this includes timing, relevant messaging, and the right audience.

Once the companies have created the content of the wallet, the distribution is instant. Businesses can post their pass links or scannable codes on their social media pages, where customers can immediately add mobile wallet content to their devices. Or even use a Facebook Pass to automatically create a custom pass and add it directly to your mobile wallet. Customers can then share it within their social networks, which today can lead to exponential and explosive exposure.

Mobile is the space where businesses need to gain authority, especially with the increased reliance on mobile shopping and payments. It is estimated that within the next 5 years, 50% of smartphone users will pay on their mobile devices. Boost 2014 by taking advantage of the mobile wallet and adding it as valuable content to your social media marketing strategies.