Building a brand takes time, money, and talent. Consumers generally do not recognize a brand image over-night. In fact, studies suggest that consumers require at least three impressions of a print advertisement before they even remember the company name.  A major concern is building a brand that is recognizable, but does not become annoying. When it comes to building your brand online, in the social media platform, what are consumers saying? What is the reach?

An article entitled “How Younger Adults React to Brands on Social Networks” stated that the millennial generation enjoys viewing brands through social media such as Facebook and Twitter and the “older adult generation” is not far behind. These millennial consumers are more likely to “Like” a brand through social media and interact with the content created from that brand; although, they [millennials] do not want to be annoyed with too many posts or tweets. So how often should a brand post relevant material?

The frequency at which brands should post depends on the medium through which they want to send it their consumers. This can be one post a day to multiple postings through a variety of social channels in a single day. Consumers want to know what is going on in their community. For example, if a brand is sponsoring an event, they should tweet or post about the event.  Same thing if there are promotions, coupons, contests, etc. As long as the content is relevant to that industry, posting multiple times daily will help increase brand equity.

The trend of social media and the payment space has rapidly become a hot topic. Such technologies as NFC (Near Field Communication) and Geo-location have been integrated into several apps in the marketplace waiting to for consumers to make use of the technology. Consumers being able to tag a storefront, “Like” it, write a review, and make payment at the store all from the same device is powerful for brand equity.  

ProPay offers a new mobile payment technology that allows Smartphones to be used, not only as a payment device, but also as a social technology allowing merchants and consumers to create dialogue with each other in real time. ProPay Link allows merchants to set up and push to consumer’s events and promotions to their device. ProPay offers several types of mobile solutions, please read about each through this post.

Travis Allen | Marketing Manager

Target marketing, as defined by Wikipedia, is the group of customers that the business has decided to aim its marketing efforts to and ultimately sale merchandise. Effectively targeting the correct market for a company’s upcoming or current product generally will not only help increase sales, but will increase the number of potential customers communicating with each other about the product.  Creating the correct target market takes resources from most departments, but how does a company choose which market is best for their product line and how to effectively drive the marketplace?

Recently, I have been involved in research around ProPay’s Social M-Payments platform ProPayLink (recently known as Zumogo).  The company needed to define its target market for the new, upcoming product.  What were the components we needed to search out? ProPayLink is an application for Smartphone users; therefore we needed to research who used Smartphones, the average income for Smartphone users, what type of Smartphones these consumers used, etc.  Compiling this information helped in the decision factor for the target market and therefore we were able to create the marketing strategy for ProPayLink.

Once the target market has been decided, the next step is to effectively drive it to the marketplace. I have become a big fan of a few select initiatives to take the product to consumers; let me share them with you:

Create a social atmosphere. Social media has become integral in the buzz about any new product offering.  Create multiple channels of social media (Facebook, Twitter, LinkedIn, Google+, Blogger); update regularly and respond to any questions/concerns in a timely fashion.  “By monitoring online conversations about your brand, industry, product or related services, you can strengthen product development, customer service and a variety of other core business functions,” (Defining Social Media Engagement, Mashable.com).

Beta launches work wonders. Your product was made for success; place the product out in the field and test how the marketplace takes to it.  This is the best environment to create positive feedback to take back to developers, marketers, product development, etc. and change/update what consumers are looking for.

Continually update. A product is never finished. It needs to be continually updated and refreshed to keep your target market interested.

Creating the most effective target market for your business’s products can and will be time consuming, but eventually bring consumers to the table. ProPay continually enhances its products for our merchants and offers them a variety of devices to allow their customers to pay.

Find us and Like us!

Facebook: ProPay and Zumogo

Twitter: @propay @zumogoapp

ProPay has a number of videos posted on YouTube that explain our services and other aspects of the company.  Please visit our YouTube page and check us out!

ProPay is excited to announce that we received news today that our Zumogo mobile solution was selected as the winner of the 2011 ETA Techology Showcase.  This is a very proud day for ProPay.  As the first Social M-Payment solution in the market, Zumogo is an exciting opportunity for companies to not only accept payments from mobile phones but to directly market to potential customers.  For a video of Zumogo  at the 2011 Sundance Film Festival see below!

This is part three (see previous post) in a series on VeriFone CEO, Douglas G. Bergeron’s six rules for success in the mobile commerce market (found here) and how ProPay’s social m-payment product, Zumogo, addresses each one.

Rule #3: “Mobile commerce must be streamlined with existing POS services and managed well for the retailer. Retailers won’t tolerate the need for multiple methods of acceptance to accommodate what will become a wide array of mobile commerce schemes. All ideas, regardless of where or who generates them, must converge at a unified point-of-sale.”  

For most brick and mortar retailers the novelty, efficiencies and increased sales peddled by new mobile startups do not justify the expense and headaches associated with an additional payment channel.  Settlement and reconciliation on the back end and inventory management, ordering processes etc. on the front end are hard enough to manage with one solution.

Zumogo fits seamlessly on both the front and backend layers of the merchant’s point-of-sale system.  Because Zumogo sits on top of ProPay’s “gateway agnostic” data vault, ProtectPay®, retailers do not have to worry about multiple merchant accounts.  All of their Zumogo transactions will be processed through the same payment gateway as their traditional channels.

When released, Zumogo’s POS software integration will seamlessly extend the merchant’s front end application allowing the merchant to utilize the full set of Zumogo features side by side with existing day-to-day functionality.  Because there is no additional hardware requirement, setup is straightforward and inexpensive.  Vendors selling NFC and other hardware dependent technologies all face an uphill battle as they try to convince merchants to spend additional capital on the still young but growing mobile market.  Even Google, a huge player in the NFC market is planning to give away the terminals in order to “encourage” merchants with its new technology.

As we were designing Zumogo the overriding principles we used to guide us were:

  1. Security
  2. Merchant adoptability. 

A big part of adoptability is making the product seamlessly compatible with the existing POS system; Zumogo does just that.

Wayne Peck – Director of Software Development

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