What is the next wave in payments, and how will it impact your business?
Crone Consulting LLC assists management teams in transforming payments from a cost of doing business to a revenue-generating new line of business. When you control the user interface, you control your destiny for providing value added services for your customers, and the associated revenues that follow.
This mindset is transformative for every business, and requires the engagement of every functional discipline to maximize the cross-channel enhancements that are powered by the mobile interface.
Mobile payment is not just about payment, it is a marketing platform that links your company and your most loyal customers at a transformative point in the shopping cycle. It is also about harnessing and protecting your data, especially customer and transaction data.
Mobile payment at the point of sale, controlled inside a retailer's or bank's own mobile app, can be used to reduce costs and leverage real credentials, recorded transactions and stated preferences with other “Big Data” such as location, timing, social postings, etc. to improve marketing and sales by making the customer known and contactable.
In the course of advising leading retailers and financial institutions, Crone Consulting LLC has identified Five Mobile Trigger Points™:
- Discovery, locating & navigating
- Check-in, preference-driven offers & proximity triggers
- In-Store enhanced customer self-service
- Mobile Payment& check-out
- eReceipts, post-sale promotions & social sharing
While each trigger point represents opportunities for retailers, banks, and others, as well as meaningful risks of disintermediation, Mobile Payment & Check-out is the foundation that enables real customer interaction and ongoing communications, enabling a new era of targeted and customized marketing and service.