Apple Pay used to buy a million dollar car, online no less –
Well, there you go. With one (or really more like a couple) clicks of a mouse, a tap with a fingertip, and a bunch of behind the scenes transactional stuff, Apple Pay was used last week to make a million dollar car purchase online.
We talk a lot about the consumers purchase journey (we even have a podcast about it, link below) and we’re not the only ones who find it to be an utterly fascinating and oh-so-important subject.
Think with Google is onboard with this idea too. If you’re in the business of selling anything to anyone, the idea that you map out their intended path from research to receipt is one that becomes more mission critical to businesses of all sizes with every day that passes.
The path to purchase, from start to finish, is rarely linear—it’s more akin to a scavenger hunt. Along the customer journey, one search can spark an entirely new idea or want. And one search can make the difference between your brand and the competition.
So Google and Apple are two very different companies, and the fact that we are referencing Google in an article about Apple Pay might be surprising, but only if you are looking for the differences instead of the similarities.
In any case, let’s talk about the car! What a car!
Automotive news site The Drive has a great article about the car – and the Apple Pay purchase of the car for more than a million US dollars.
Image credit – COYS
“The proud new owner saw the DB5 at the Paris Motor Show, he was overjoyed to see the car of his dreams and didn’t want to lose it… he was keen to quickly get in front of the queue, so a few days later he hit the ‘Buy Now’ button on [social media app] Vero to guarantee the purchase, leaving two other collectors disappointed in his wake,” Coys CEO Chris Rutledge said in a press release. The auction company claims this was the first classic car sale to take place over social media.
So now we have two items of interest in the path to purchase – Apple Pay and social media. Apple Pay only recently expanded its’ payment service to the web, and this purchase is one of the earlier purchases, regardless of the size or product.
How does this affect you and your business?
You’re likely not in the business of selling million dollar autos, but this is still a super exciting time to be selling anything online – whether it’s widgets, autos, downloadable products, or nearly anything under the sun.
We are seeing a new way of transacting – and while there have always been (true) stories about people using their AMEX to buy airplanes and their Visa to buy yachts, most of them have been doing it in person. The tendency to buy high ticket items from afar usually means a wire transfer or a bank check being overnighted to make the payment.
Apple Pay, and many of the other mobile wallets available today, can greatly impact the way a shopper goes about making a purchase. Whether it’s the guy who uses an iPhone to pay at the register because he forgot his wallet, or a group of friends splitting a check using Venmo to pay their share to the person making the payment to the restaurant, the ability to pay is moving well beyond carrying a wallet or a plastic card around.
The bottom line here?
Besides the guy buying an AMAZING car, it should be a wake up call for you as a business owner. If you don’t have a well developed mobile strategy, then you’re being left behind by your competitors – old and new. How you let this affect your business will lead to a direct impact on the state of your business when we look out over the next year to 18 months; this is when the front runners will begin legging out on the laggards.