june virtual series: the future of money
DESCRIPTION
Sheila Collins discusses the new frontier for mobile commerceTRANSCRIPT
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The Future of Money The new frontier for eCommerce
Sheila Collins
“THE Mobile Moola MARKETER”
June 19, 2012
Twitter: @sheiladcollins Brought to you by:
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Agenda
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> Mobile Landscape & Trends
> Money 2.0
> Mobile Shopping
> Case Study
> Questions ???
> Takeaways
Tweet questions to #digitalmoguls
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Mobile Trends
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• There are 6.8 billion people on the planet. 4.5 billion own a mobile phone. Only 3.5 billion own a toothbrush (Source:60SecondMarketer.com)
• By 2013, more people will access the web from phones than personal computers. (Gartner Group)
• Consumers will spend more than $10 billion on non-digital goods in the US on their mobile phones in 2012. (Forrester)
Share these facts on Twitter by referencing @sheiladcollins #digitalmoguls
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Offline Online
Mobile Channel
1. Simplicity
- Suited for frequent tasks, that require just a few steps
2. Immediacy
- It’s on 24x7, well suited for delivering content that matters to consumers, when it matters to consumers
3. Context
- Leverage mobile to influence purchase/redemption decisions , i.e using GPS for store location, local deals
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Mobile Channel
Example QR bar codes to drive to mobile to obtain additional information, comparison shop, and redeem
Mobile blends the online world with the offline world. It’s a personal communication and transaction platform.
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Money 2.0
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The evolution of smartphones has expanded the role of payment models .
4 mobile models
Bar code
Prepaid Peer to Peer
Virtual Currency
Loyalty Points Phone #
http://mashable.com/2012/05/02/future-of-mobile-payments/
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Who to Watch
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Several companies are leading the charge in Mobile Payments
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Barriers of Money 2.0
8 (1) The Forrester Report on Mobile Shopping (U.S. Edition 2010) - Published Jan 2011
Emerging solutions for Mobile Payment s are all at different stages
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Mobile Payments Readiness Index
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Mobile Shopping
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• Mobile coupons generate 10 times the redemption rate of traditional coupons (Source: Borrell Associates) • Google has seen mobile searches grow by more than 400% over the past year (Source: Google) • Research indicates that if someone leaves home without their wallet, they keep going. If they leave without the mobile device, they turn around (Source: 60SecondMarketer.com)
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Smart Shoppers
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A (short) Perspective on Airtel Money.
Mobile Payments in India
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Mobile Payments in India
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Bharti Airtel • Cellular, Internet, and Television services • Over 20 countries throughout South Asia and Africa • 250M Customers (Verizon, AT&T, Sprint combined) • 175 Million mobile customers in India(20% of market)
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Mobile Payments in India
February 2012: Bharti launched “Airtel Money”, prepaid mobile money product throughout India
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Mobile Payments in India
Three major customer segments…
Urban Professional
College Student
Migrant Worker
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Mobile Payments in India
Mobile Money Challenges:
Education • How do you educate customers on using money
money and the product benefits? Scale • How do you effectively reach 1.2B people? Security • How do you not support terrorism?
Purchase Power • Who is accepting Mobile payments?
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Starbucks The mCommerce Opportunity
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Value Creation Connected Commerce 26 Million Transactions*
Starbucks Mobile Payment
• Premium product • Daily transactions • Cool factor • Close loop
* December 2011 – Annual transactions
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Takeaways My Concepts for Mobile
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Social + Mobile + Commerce =
Buy Build Bond
Value Creation Connected Commerce Purchasing Power
The 3 B’s of Mobile
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The Mobile Moola Marketer’s Predictions
§ eWallets will provide consumers with dynamic real time offers
§ Self service mobile checkout will be more rampant
§ Black Friday and Cyber Monday the two biggest shopping days of the year will be one in the same in 5 years
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§ We will become a cashless society in
~ 20 years. § ????
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Sheila Collins
The Mobile Moola Marketer
@sheiladcollins www.about.me/sheilacollins
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APPENDIX
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References
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• http://techcrunch.com/2012/06/10/mobile-payments-a-trillion-dollar-industry-once-everyone-can-actually-make-a-payment/
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Mobile Payments Wiki Definition
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Mobile Payments Future
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Technology Comparison
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Mobile Payments Adoption
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• SapientNitro expects shipment of NFC enabled phones to reach 544.7 Million by 2015
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Online Shopping Business Model
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1. Advertisement & Blogs (Tech Crunch, Search, Email, social media)
2. Social Actions (Tweet, “I like”)
3. Search ( Google, Bing, Wiki)
4. Online Reviews ( Yelp, Amazon, CNET)
5. Comparison (ShopSavvy, Shopbot)
6. eWallet (Billeo, Paypal)
7. Social Media (“Like” button Facebook, Blogs)
8. Online Reviews
Social Opportunity