Why is Wallet Circle better than a branded app?

Posted in Guides by admin

-A proprietary app might not be the route to get more customer loyalty- (9)
We’re often asked by our business customers how a shared loyalty app with multiple other businesses could possibly be better than having their own app.

After all what business wouldn’t want its own app, right? You can do so much more than loyalty. You can put your own branding and content on it, it’s all yours, no sharing, it HAS to be better right?

Some might say we’re biased, but we obviously disagree!

If you’re considering your own app, there’s lots you should think about:

1. Do you need an app?

Before you start on your journey of app creation, ask yourself: what do you want to achieve and do you need your own app to do it? Sure, you can list the address and opening times of your business on your app but you can do that on your website or social media. Same goes for listing special events and news.

An app, with little business benefit, could easily become a chore that you need to find the time in your busy day to check and update regularly.

2. Marketing your app

As well as building and maintaining your app, you’ll also need to think about marketing your app. According to Statista, as of June 2016, Android users had 2.2 million apps available while Apple’s App Store users had a slightly fewer 2 million to choose from.

Wallet Circle handles its own marketing, so it’s one less thing to think about. And with an established user base, there’s no need to raise awareness of the app or incentivise downloads from scratch.

3. Getting customers to use your app

There’s almost always an app for that, whether “that” is a taxi service, food delivery or a video game. There are even apps that manage apps. But with so many popping up all the time, how often are any of them being used? Surveys report 23% of users abandon an app after one use. The top two reasons why people stop using apps are because they become bored with the app or they simply don’t need it any more. In other words, apps stop providing value or entertainment, and people stop paying attention to them. A successful app needs to be useful.

Wallet Circle helps customers collect rewards just for visiting the places we know they already love. Our figures show that once customers use Wallet Circle for the first time, 90% of them keep it installed and become repeat users.

4. Brand presence

You will have complete control over a bespoke app but that control comes with a cost in terms of time and money. Will you be able to commit the resources you need to make your app a success?

Wallet Circle allows you to customise your mobile loyalty card which will always appear automatically on your customers’ handset in proximity to your business location. Your customers may never see another brand.

5. Easier for your customers

Wallet Circle was created as an alternative to having a bulging wallet full of loyalty cards, in the same way third party online delivery services such as Deliveroo have replaced menus dropped through customers’ doors with a single contact point. It’s a business model that works and that customers understand.

Wallet Circle is a single app that can be used to earn rewards at multiple businesses and is far more practical than having several apps for each business installed.

6. Upfront cost

Developing your own app, with lots of customised features, doesn’t always come cheap. Custom development can cost several thousand pounds. And to reach the widest possible audience your app will need to be available to both iPhone and Android users. There is very little in common between the two and the work required is nearly double.

Wallet Circle runs on both iPhone and Android as standard. You can customise the loyalty card for your business and you can start for free.

7. Ongoing maintenance costs

Building your app is only part of the expense. Any app needs to continually updated and maintained. This could be tweaking its design or features or dealing with customer issues using the app. And unlike iPhones made solely by Apple, because Android phones are made by a variety of manufacturers, each one behaves differently. Don’t underestimate the number of issues your customers may have using your app. Expect to pay a monthly or quarterly service fee on top of your original outlay to your app developer.

Wallet Circle charges no fees for its basic mobile loyalty card and from £25 / month to access customer data and marketing functions. Because multiple businesses share the same app, maintenance costs are split between all business customers so monthly fees are significantly reduced.

We’re not saying that a branded app is always a bad idea. We’re also not saying that Wallet Circle is right for everyone. But ask yourself these questions before you start thinking about apps. Be clear in your mind what you want to achieve. And if you believe a quick, simple, affordable mobile loyalty solution could work for you, then you can start using Wallet Circle for free.

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