Summary: Businesses should sign up to mobile payments initiative Weve for mcommerce opportunities.
Marketers that fail to register for one loyalty payment venture are missing out on an opportunity equal to signing the Beatles.
The scheme began trading in December 2012 and is offering brands the chance to boast a “single, consolidated customer base” of more than 15 million people they can roll mobile marketing campaigns to, whether it’s using SMS messaging, location-based ads or video content.
Speaking about the project at Advertising Week Europe, the chief executive officers (CEOs) of the three telecommunications firms claimed mcommerce will be a major driver for the British economy.
According to O2 boss Ronald Dunne, regulation derives from two things, market failure and the prospect of market failure and the country now has an opportunity to establish a “true digital confidence”.
The alliance between the operators was compared by Mr Dunne to a similar venture they embarked upon more than a decade ago, which saw the companies send text messages to people who were not registered with their own network.
It is likely to be methods such as this that have helped the organisations to expand their customer base and keep individuals loyal to their service and the O2 CEO remarked: “[Weve] is interoperability for brands: we know they want to talk to the most valuable customers in the marketplace.”
Weve promotes itself as a focal point for a new set of ideas across the mobile spectrum and businesses are sure to benefit from the mobile marketing, advertising and payments experiences it has to offer, which could help retailers roll out their own loyalty programmes and coupons.
And it seems many high-profile brands are noticing what Weve could do for them, with Morrisons and Nike already running activity on the service. In addition, Tesco is currently launching a geo-targeted campaign on Weve, which involves texting its female customers about a £5 discount off their next £40 shop if they spend £20 in-store on the day.
Vodafone’s CEO Guy Lawrence said Weve’s door is open for any rival operators such as Three that are interested in joining forces with the alliance, however, he added this has not yet happened due to the fact the CEOs have not been allowed in the same room because of legal matters.
The expert pointed to figures recently released by Gartner that suggest by 2016, there will be one billion phones enabled with Near Field Communications technology in use. He used these statistics to support his argument that brands must show willing to adopt the mobile channel and incorporate it into their marketing strategies, as once the total is reached, merchants that don’t take advantage of mobile will be “left behind”.
“If you want to be the chief marketing officer that didn’t sign up The Beatles, ignore everything we’ve said today,” he said.
Weve is preparing to announce a new service that will give advertisers the chance to send out SMS marketing campaigns to customers en masse in order to redefine its targeting via region or gender. The scheme is designed to make consumers think of texts less as spam and more as personalised messages relevant to their interests.
Dynmark has been working with various financial services companies for over a decade, providing tailored integration solutions as well as best practice and campaign management advice. Our experience means that we know how to make the most of SMS for the financial services sector and understand how to support your business. Read more about Dynmark’s financial experience here.