Gaining Competitive Advantage Through Mobile Payments (Digital Friday/People)

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing.  Today is Digital Friday and we are going to talk about using new digital technology to get a jump on the competition.

The story is often shared about Wayne Gretzky, perhaps one of the greatest players in the history of the National Hockey League, being asked why he was so good.  He said the answer is simple; he always skated where the puck was going, not where it was.  We are going to talk about how leveraging e-wallet or mobile payments may enable you to get ahead of the competition and skate where the puck is going.

A trend that is emerging very quickly is the use of mobile devices, new apps and smart phones to handle transactions between you and your customer. This is becoming more widely available and organizations such as Google, eBay, Apple, Amazon and Starbucks are creating electronic payment environments.

Electronic payments are very easy for your customers because when they enter your establishment they are able to complete a transaction without using a physical credit card, debit card or cash.  In some cases they may not even have to take their phone out of their pocket.

Is this the eventual death of cash or is it a chicken and egg moment?  By that i mean there may not be enough users in the marketplace able to complete an e-wallet transaction to justify the cost of the technology right now.  Investigate the technology and determine if it makes sense for your business and create a competitive advantage over your competition.  New technology makes it easy for customers to complete transactions and you don’t want your competition to be ahead of you as e-wallet gains acceptance as becomes the preferred method of payment.

That concludes Digital Friday.  Join us next week for Smart Monday.  To discuss an online or face to face service engagement and enhance the marketing and branding for your organization, contact James Glover: (505) 501-1330 or onceadaymarketing@gmail.com.  I’m Jim Glover, That Branding Guy, for Once a Day Marketing and we’ll see you next time.