How the eWallet Gives Your Business the Competitive Edge

Our modern lives are becoming progressively digitized

If businesses embrace that, the benefits are plentiful - and here's why. The incredible advances in technology have streamlined and simplified our day to day lives and experiences. We can now do just about anything as long as we have a smart device and an Internet connection.

But this doesn't mean we're stuck behind desks or attached to clunky keyboards. User-friendly smartphones and tablets are leading the way with their amazing range of flexible applications and programs, meaning that we can network, conduct meetings, pay bills, and of course-shop-all without getting up from the couch.

And Millenials love it!

Born between the late 1970s and the mid-90s, Millenials are the up and coming generation slated to soon replace the Baby Boomers. But while the outgoing Baby Boomers would proudly proclaim that they "live to work," Millenials are a stark contrast, declaring that they instead "work to live." (1) Millenials thrive in today's modern, flexible environments and love conquering any new technology that makes their lives easier and simpler. They crave information and social networking, and seek to maximise their leisure time at every opportunity, hence their deep interest in all things Internet and technology-related (1) .

And the statistics support this: As much as 94% of Millenials complete purchases online, with a whopping 59% buying via mobile devices (2). And it's easy to understand why-it's far easier to shop more efficiently without having to bundle up in the car and drive to the shopping centre. What's more is that Millenials are extremely well-educated when it comes to shopping and can spot a great deal a mile away. Scanning for sales, unearthing bargains, and reaping rewards are what they do well, and they do so at breakneck pace by using their favourite brands' apps and websites (1).

A brand's virtual convenience is so vital these days, that some 52% of Millenials claim that a business' use of technology is actually more important to them than the brand itself.

Winning over the Millenials one app at a time

This is where businesses can make their mark: by tailoring their services to meet the Millenials' twin needs of convenience and simplicity, they will not only see their sales increase, but will watch as consumers become repeat customers, and repeat customers become (unofficial) brand advocates, almost literally overnight. And this is where the eWallet comes in.

How the eWallet benefits your business

The eWallet truly wins over the hearts and minds of Millenials because it squarely meets their immediate needs where they stand (or sit). It provides the ultimate convenient service, enabling users to:

  • pay bills
  • track finances
  • arrange payments
  • browse bargains
  • complete purchases
  • and receive rewards

All while in a single app. It is a lighter, faster, and more efficient solution than traditional coupon-heavy, gift card-laden, receipt-stuffed wallets. And if your business is eWallet enabled, you'll stand out amongst the masses and will strengthen-as well as deepen-your customer relationship bonds with ease.

How it Works

The eWallet combines all of the practicality of internet banking, with the convenience of PayPal and BPay, all in one cohesive whole. After logging in to their secure accounts, users can flesh out their profiles with the following information -

  • Credit Card details
  • Bank Account information
  • Gift Cards
  • Rewards Program memberships

Of course, the more information a customer provides, the easier and more effective the eWallet becomes, and the more likely they are to use it. Users can then use the service to complete a wide range of finance-related tasks, all without needing to log in and out of different applications, or having to remember multiple passwords. When purchases are made through the eWallet, existing discounts and coupons can be automatically applied at checkout, and rewards points are instantly added to connected accounts. Customers are therefore easily able to keep track of exactly how much they are saving, spending, and earning with each transaction. It's exactly this type of simple, technological convenience that Millenials so crave and love.

Additional Benefits

Keeping in line with current trends, the eWallet has an incredibly responsive design, making it suitable for use either via smartphone, PC, or tablet. The eWallet is compatible with a range of Apple products and Windows and Android-enabled devices. In addition, the eWallet easily enables clients (that's you!) to customise and update their services and sales via the platform, so that you can ensure your offerings are relevant and competitive at all times.

Take Aways

The eWallet is a revolutionary app that helps take customer relationships to new heights. Providing modern, Millenial consumers with an unparalleled level of convenience and ease helps cement brand loyalty, drives sales, and gets businesses an excellent ROI. To learn more about how the eWallet can benefit your business, get in touch with us today on 1300 134 418 or send us an email to info@loyaltycorp.com.au.

References:
(1) www.nielsen.com/us/en/insights/news/2014/millennials-technology-social-connection.html
(2) enterprise.microsoft.com/en-us/industries/retail-and-consumer-goods/new-use-cases-for-device-mobile-retail-preparing-for-the-next-wave/
(3) www.marketingcharts.com/online/how-smartphone-owning-millennials-expect-brands-to-use-technology-51040/