According to Bank of America research, consumers are increasingly prepared to adopt this technology.
If Bank of America is correct, American mobile payments will be commonplace very soon. Their research suggests that consumers in the United States are increasingly ready to use this technology.
Mobile wallets are nothing new in the United States but they have yet to take off among most people.
Bank of America conducted a survey to gauge consumer opinions regarding American mobile payments. What they found was 40 percent of respondents were actively seeking out mobile wallets or already had them. This is a sizeable increase over last year’s figure. In 2015, only 34 percent of respondents felt the same way.
Clearly, there was a sharp increase in the number of actively interested Americans. This interest level is considered to be an important indicator of willingness to adopt the technology. That said, the respondents didn’t stop at simply looking into mobile payments technology.
The American mobile payments interest could move forward rapidly starting very soon.
The research determined that 57 percent of Americans would be willing to try or are already using a bank peer to peer (P2P) money transfer app.Also, 62 percent are already using mobile as their main banking method or would be willing to try it.
The active mobile app user numbers also climbed. Forty eight percent of respondents were using mobile banking apps in 2015. This year, that figure increased to 54 percent. Furthermore, Millennial interest in these mobile banking tools is very evident. That generation represents a growing proportion of shoppers as a whole. This makes their opinions on such matters highly significant.
Millennials use their smartphones more than any previous generation. In fact, 39 percent say they would prefer to interact with their mobile phones than anything or anyone else. This included their significant other! American mobile payment have the potential to become very important to this generation. Moreover, since they are one that is about to become the most important group of consumers, this information is important. After all, no matter what previous generations think, it is the Millennial opinion that will soon hold the most weight.
Equally, when it comes to GenX consumers, longer video advertising seems to make a connection.
The results of the “Multiscreen Video Best Practices” research report have now been released by the Interactive Advertising Bureau (IAB) following its research into mobile ads in conjunction with Tremor Video and Millward Brown Digital.
They determined that 10 second mobile video advertisements have the greatest effect on Millennial viewers.
These shorter videos as mobile ads were most effective for that generation in terms of their persuasion potential and overall brand appeal. On the other hand, when it comes to appealing to people between the ages of 35 and 54, thirty second videos appeared to have a much greater impact in those two areas. According to the report “Our research shows that for some demographics and some adverting goals this doesn’t hold up. These findings are critical in creating the next generation of multiscreen video advertising.”
As a whole among mobile ads, it was the 30 second videos that had the greatest advantage over all audiences.
Despite the fact that 10 second spots were most effective among Millennials, audiences of all ages did agree that the mobile video ads that were 30 seconds long had a very important advantage of being better for being able to communicate new or complex messages. Among the respondents of a survey who were asked about the amount of new information an ad had provided, 73 percent said the thirty second ads were most effective (versus 68 percent who said the same about the 10 second ads).
The respondents also indicated that larger screens assisted in effectively sharing a message of moderate complexity. Seventy three percent of those polled said that the mobile video advertising they saw on tablet screens were good at sharing new info with them. Comparatively, only 65 percent said the same thing about smartphones.
Moreover, the research determined that tablet video mobile ads are especially engaging among consumers within the 35 to 54 year old age group. Respondents in that category indicated that the advertising they viewed over those larger screens was more “unique”, “interesting” and “involving” than what they saw on other device screens.
