Monday, March 4, 2013

Prepaid Expo Day 1: Morning Recap

Richard Crone, Founder and CEO of Crone Consulting LLC, just spoke in one of the opening sessions at the Prepaid Expo. His session titled "Advanced Mobile: Strengthen Your Mobile Core" drew an interactive audience eager to learn from what Richard had to share. Here is a quick recap just incase you missed out: "The one who enrolls is the one who controls" - Mobile Payment Apps are not actually about payments, they are about the big data. You controls the consumers data - not a third party source. - The amount of time consumers have spent in retailer apps has skyrocketed 525% from Dec. 2011 to Dec. 2012 - Companies that use mobile apps saw an increase in sales and operational effectiveness, higher conversion rates, and higher retention rates - Mobile Apps are about recognizing your best customers - not displacing the cashiers in the store. - The average smartphone user has 40 apps on their phone and only uses 15 of them.

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