Digital advertising for offline stores just got a whole lot more powerful.
After a year in beta, inMarket has launched its Lapsed Shopper Program to identify and recover customers who have stopped visiting partner retailers' stores.
The program is similar to what ecommerce has been doing for a nearly decade: Identifying web visitors who have lapsed, and retargeting them back to the site through tactics like display or email. But in the offline world, instead of tracking web visits, we're measuring real-world store visits over time.
Chuck Martin from MediaPost puts it nicely: "Location tracking over time is starting to provide totally new advertising opportunities based on longer-term behaviors of a shopper beyond a single store visit. inMarket...has created an additional shopper behavior model, by focusing on people who stop going to a particular store. The technology can identify a shopper who was regularly going to a store and then stopped, say after a 30-day period. Once identified, those consumers can be sent a relevant ad from the retailer, which could include an incentive to go back."
Check out our official press release below, or drop us a line to hear more about how you can put it to the test.
inMarket Launches Lapsed Shopper Program to Recover Lost Revenue for Retailers
LAS VEGAS, March 20, 2017 /PRNewswire/ -- inMarket -- the mobile moments company with the largest verified first party location reach -- today announces the launch of its Lapsed Shopper Program to reactivate lost customers for retail partners. This first-of-its kind program provides retailers with unprecedented ability to identify and recover shoppers who have stopped visiting. Harnessing inMarket's reach via the world's most popular shopping and lifestyle apps, retailers uncover actionable insights about shopper cycles in their own stores as well as competitors' stores.
inMarket's Lapsed Shopper Program identifies shoppers that have not visited a partner retailer in a set amount of time based on store category. The program determines if the shopper is frequenting a rival retailer, or simply not shopping in that category. inMarket then leverages mobile and desktop display to reactivate lapsed shoppers back to the partner's stores.
A beta campaign for a national retail partner in Q4 2016 identified 293,000+ lapsed shoppers, successfully recovering 118,000+ (40%) back to the store, versus a control of 15% who returned to the store without being exposed to messaging. The campaign resulted in an ROI of 743% based on the retailer's own metrics for a single return visit by a recovered shopper.
"Retailers tell us just how hard it is to build brand loyalty in a competitive environment where customers are constantly bombarded by messaging," said Todd Dipaola, CEO, inMarket. "The Lapsed Shopper Program is all about identifying and reactivating shoppers who have already been to the store, and driving measurable foot traffic back in for brick-and-mortar retailers. We're leveling the playing field for real world businesses by unlocking hyper-targeting tactics that were previously the exclusive unfair advantage of e-commerce."
The inMarket Lapsed Shopper Program draws real-time, first-party location data from a combination of beacons, GPS and wi-fi in locations. Direct integrations with many of mobile's most frequently used apps -- reaching over 50MM people per month as verified by comScore -- provide inMarket with the largest and most accurate collection of first-party, in-store location data available in the industry.
The Lapsed Shopper Program is the latest addition to inMarket's powerful, timely and relevant suite of ad solutions that consistently outperform traditional advertising. Many of the world's largest and most advanced advertisers use inMarket's Preceptivity to reach people in the planning stages when they're "due" for a store visit -- and then use inMarket's Moments to deliver a message to shoppers precisely when they enter a store.
In January, as a result of its success at retail, inMarket expanded into entertainment with the launch of inBar: The first mobile proximity solution for on-premise advertisers to reach consumers in bars, restaurants and nightclubs around the U.S.
For more information, please visit www.inmarket.com.
inMarket is an integrated mobile moments company powered by its market-leading beacon proximity deployments and the industry's largest verified reach. With billions of first party data points and machine learning algorithms, inMarket creates personalized and instantly relevant mobile experiences based on location context. Brands and retailers use the platform to drive significant lift in sales by engaging with customers at the ultimate point of receptivity. inMarket is headquartered in Venice, CA with offices in NYC and Chicago.