QR codes are one of the latest online marketing tactics being used to drive traffic to websites. A word about QR codes first:  QR codes, or Quick Response codes, are a type of 2D barcode with encrypted text and URLs that can be decoded by any mobile phone with a QR code reader.

QR codes are an amazingly cost-effective technology that businesses can use to fire up their marketing efforts since these codes create a bridge between their website and offline product.

QR codes – all set to grab the market

Considering the popularity of mobile ecommerce with consumers and the prediction that its value will increase to approximately $50 billion by 2014, there is no doubt that there is a massive audience for QR codes waiting to be leveraged. QR codes are easy to generate and embed in marketing materials, providing businesses a highly cost-effective and more importantly, a measurable marketing tactic.

How can online marketers use QR codes as a marketing super-tactic?

QR codes are visible everywhere these days on company marketing material including promos, flyers, restaurant menu cards, store fronts, newspapers, business cards – just about everything. Even individuals can generate a QR code for free and attract people to their blog or social media profile, business web pages and much more. A QR code can also act as someone’s business card. All one needs is a mobile phone with an Internet connect and a QR code scanner to connect with anything online. There is no limit to the amount of data QR codes can contain.

QR codes are also used by businesses on their business cards, making it easy for potential clients to access their contact details and save it to their mobile phone. They can also be used on promotional materials in marketing and advertising incentives such as discounts and coupon.

Some restaurants use QR codes on their menu and if someone orders a particular item, they can scan the relevant QR code and see how the dish will be prepared.  Luxury marketers use QR codes creatively to make exclusive offers to their elite clientele. Some brands use QR codes in their store windows next to products where customers can scan them with their mobile phones to see these offers and purchase what they want via their smartphones. Better still, these customers can share it with their friends, triggering word-of-mouth marketing and referrals for the business.

Mobile phones are a fantastic platform allowing users to connect with products easily. Combined with a call to action, marketers can benefit in a big way.  QR codes can help with customer attraction and retention, while bringing significant cost savings for a business. The list of benefits is endless and limited only by the business’s imagination.  Do you use QR codes as an individual or for your business? Do share your experiences.

With the sale of smartphones and tablets skyrocketing and competition increasing among brands to woo the consumer with apps galore, the rise – and rise – of mobile payments is quite apparent.

The future of mobile payments

Mobile Marketer recently quoted a PayPal executive who said that “PayPal’s mobile payment transaction volume has grown from $24 million in 2008 to $140 million in 2009 to $750 million last year. It is projected to top $2 billion this year and is expected to reach $7.5 billion in 2013”. Creditnet.com’s report predicts that by the end of 2015, the mobile payment industry could be worth up to $22 billion. Aite Group, a research group focused on the financial services industry reports that the adoption of NFC technology by wireless carriers and cellphone manufacturers could boost mobile payments in the U.S. to $214 billion by 2015.

With figures like that, it is clear that mobile payments are going to become a preferred method of payment.  Add to this location-based social networking sites offering mobile users incentives to shop and at the same time enabling businesses to target their local consumers. As marketers are figuring out ways to connect with their mobile customers and convert them to loyal users, they are also trying to offer real value through relevant offers.

Mobile payments: The benefits

As people become more dependent on their cellphones and with evolving technology, it is only natural that cellphones are used for more than just phone calls. Besides the standard features like messaging, organisers, cameras and internet browsing, mobile phones are now being used to transfer and receive money and making bill payments via secure gateways among others.

For consumers, mobile payments are beneficial because they can be used to make payments securely, conveniently and easily from any location. They can also be used in stock transactions and to manage one’s finances.  For businesses, the facility of mobile payments opens up a whole new channel to reach their local and global customer base through different marketing methods.

Small businesses, which were a little wary about the extra fees being charged for processing credit card payments and preferred check or cash, are open to accepting mobile payments, thanks to mobile payment companies offering cost-effective tools. Some premier mobile payment tools are Obopay, Intuit GoPayment, PAYware Mobile, Swipe and Square, which not only enable businesses accept mobile payments easily, but also provide sales analytics to help track net sales.

In the meantime, as the number of consumers opting to make mobile payments increases, there is the question of who will regulate mobile payments since there are no existing laws that apply to this payment mode. Activist groups contend that the sensitive financial data stored on mobile phones could be accessed by the unscrupulous.

Do you use your mobile phone to make payments? Do you run a business that accepts mobile payments? Share your experiences in the comments section!

Location based marketing is the current hot topic in marketing and it is turning out to be a critical tool to attract and retain customers, particularly for offline businesses. Just about any business that is interested in connecting with a local audience can derive major benefits from location based marketing.

There are several web platforms vying with each other to build that bridge between offline and online marketing efforts. Examples are Foursquare, Facebook Places, Brightkite, Google Buzz, Yelp and Gowalla. These applications aim to connect online customers to offline businesses.

If you have a business with a retail location, make sure you claim your business on these sites and test-drive them to see if they bring traffic and customers to your business. Based on this, you can decide whether you need to focus your marketing efforts towards these.

Foursquare, Facebook – why should you care?

The fact is, Foursquare has seen an amazing increase in traffic during the last three months and to you, the marketer or business owner, this indicates the power of location based mobile applications and the impact they will have on your marketing efforts. Foursquare is not the only one out there, but it is obvious that location based social networks are here to stay and will have a big impact on your business.

Some quick tips for location based marketing for businesses

As a marketer, you need to explore location based applications such as Foursquare and how your prospective customers are using them. You have to connect with your online customers to become aware of what they are looking for and the search results they see, both real time and social search.

Thanks to social media, consumers have the constant urge to stay in touch with their peers and location based services leverage this behavior to generate traffic and business. Mobile devices enable marketers reach their local customers and offer them rewards to motivate them to buy from them.

Location based media company, JiWire’s Latest Mobile Audience Insights Report shows the following statistics:

• 78% use location-based apps on their phone; 29% use them multiple times a day
• 34% clicked on an ad in response to location specific message
• 57% are more likely to engage with an ad that is relevant to their location, an increase from 46% in Q1
• 17% have made a purchase in response to a location-based advertisement
• 84% of people who use app-enabled phones have participated in a shopping activity

It is obvious that businesses must offer incentives and rewards to attract and convert prospective customers and use a system of loyalty points to reward existing (read loyal) customers.

One of the biggest advantages of location based marketing is its ability to tap into the younger demographic that is tuned to using mobile devices, apps and services. Big brands are leveraging services such as FourSquare, Facebook Places and so forth to announce new products. Social media teaches the lesson that it is important to engage and acknowledge consumers and as a first step, businesses can adopt the policy of thanking users for checking in, followed by rewards in the form of coupons and special offers.

Does your business use location based services? Do share your insights in the comments section.