Growing Significance of Mobile Wallets:

• Mobile Wallets have evolved beyond credit cards, now utilized for loyalty cards, offers, coupons, gift cards, and event tickets.
• 54% of consumers made purchases based on mobile wallet offers, showcasing the channel's effectiveness for driving sales.
• Mobile Wallets offer a bridge between high-reach, low-engagement email marketing and low-reach, high-engagement mobile app marketing.

SMS Marketing Effectiveness:

• SMS adoption is nearly ubiquitous, with 75% of consumers reporting that brand text messages routinely influence their purchasing decisions.
• SMS boasts high open and read rates (99% and 97%, respectively), making it a powerful tool compared to email marketing.
• Well-timed, personalized, and offer-oriented SMS can significantly drive traffic to both offline and online stores.

Best Practices for SMS Adoption:

• Focus on engagement, growth, and retention rather than quick-hit, batch-and-blast tactics.
• Build and treat the mobile database of opted-in SMS subscribers as a valuable asset.
• Personalize SMS messages based on customer buying habits, patterns, and preferences for optimal results.

Industry-Specific Adoption:

• QSRs and retailers benefit most from SMS, especially in driving foot traffic to physical locations.
• Online retailers leverage SMS for abandoned cart scenarios, while brick-and-mortar retailers combine SMS and mobile wallets to multiply revenue.

Mobile Wallet Revenue:

• Combined SMS and Mobile Wallet campaigns generate 19x more revenue per message compared to standalone SMS campaigns.
• Mobile Wallets provide fully attributable revenue, offering marketers insight into the direct impact of their campaigns.