Mobile Payments And Digital Wallets: Traversing Uncharted Territory

Ghost Written Post

We have surely come a long way from those good old days when we carried around wallets the size of a giant hamster. I could barely ever get mine to fit into my back pocket. It had everything that I’d ever need and mostly junk I’d never use – some cash, coins, my personal calendar, bus tickets, movie tickets from a year ago, scraps of paper with names and numbers of people I’d never meet again, business cards, gift coupons and even lottery tickets. In short, I was a George Costanza. But honestly, I just liked the idea of carrying around a wallet; it made me feel like a grown man.

Mobile Payments and Digital Wallets

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Social Media Data: A Goldmine Waiting To Be Mined

Image Courtesy: Shutterstock

Image Courtesy: Shutterstock

I perhaps spend about 30mins of each waking day either glancing through e-mails and text messages or taking calls, from brands that try to sell me everything from pizza to luxury condos. I am not exaggerating in the slightest, when I tell you that I literally have to say “No thank you, I am not looking for a personal loan” at least five times a day.

Stand Out

There is this factoid that says – every individual is ‘exposed’ to anywhere between 5000 – 20,000 brand messages in a single day. This could be true. But does that mean that the individual has ‘seen’ all those messages? Probably not. But I am going to make a guesstimate and say that the individual, a potential customer, pays attention to at least 5 – 10 ads/brand messages which they chance upon in a day. In such a scenario, how does the brand ensure that their message resonates with the customer and stands out, amidst the legions of unsolicited messages thrust at them?

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