In prior posts, I discussed the growing area of marketing via mobile phones through a technology called Radio Frequency Identification (RFID). However, I only touched upon one mobile feature RFID can provide. RFID and other technologies allow individuals to use their mobile devices to purchase goods and services online with a credit card, as well as charge directly to their “mobile account.” Mobile banking is also becoming an increasingly common activity by users.
A new Harris Interactive study shows:
- 25% users use their phones to pay for things online with a credit card.
- 20% users would like to use their phone as a “mobile wallet,” where charges our billed to your mobile account.
- 10% would consider using their devices for wire transfers and stock trading.
The study also reveals some statistics on the increasing number of individuals who are using their phones for banking and purchase transactions
- 16% use mobile banking.
- 60% of those who use mobile banking use it at least once per week.
- 35% of mobile users are open to the idea of checking bank account balances and transferring funds with their phones.
- 66% are interested in receiving text messages from their banks regarding their accounts.
However, those who do not currently use mobile banking have concerns about the process. 66% express concerns with security encryption,ad 63% are worried about fraud and financial scams. In my opinion, these are temporary concerns. It took a while for the majority of individuals to feel safe banking over the internet. It’s only a matter of time until mobile banking is also an acceptable activity.
What does this mean for you? If your target audience includes mobile users, you can assume that they are becoming even more and more tech savvy every day, looking for more ways to make their life even more about convenience. Mobile banking will help them with this…once using mobile internet becomes even more secure, and the fear of the security of this medium subsides, there will be more individuals using these and other services.
The fact that your target audience is becoming more tech savvy may be extremely important to consider when determining your marketing message.