RetailMeNot, Inc., a leading digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store (www.retailmenot.com/corp), today released a new study titled “How Retailers Are Adapting to New and Evolving Mobile Marketing.” Two hundred marketing decision-makers in retail organizations participated in the study, showcasing a continued increased investment in mobile marketing and, often, the challenge to quickly adapt to changing consumer demand.
Download the full study at www.rmn.com/retailermobilestudy2017.
The vast majority of retailers surveyed said they are increasing their investments in mobile (92 percent) or social media (89 percent) advertising this year, while simultaneously indicating they experience challenges in executing or successfully tracking ROI on these efforts. As consumers continue their adaption of mobile into every facet of the shopping journey, marketers are challenged to adapt strategies to better fit the mobile-minded consumer.
“Marketers should not underestimate the influence mobile marketing has on purchases made in all channels—in-store, online and on mobile devices, Equally as important is the ability to attribute sales back to mobile marketing efforts. Because 90 percent of retail sales still occur in-store, mobile is the key to understanding digital attribution from online to offline.” said Marissa Tarleton, chief marketing officer, RetailMeNot, Inc.
Many retailers choose to partner with companies that can help meet these mobile-specific challenges, and with good reason: the study revealed more than 80 percent of retailers that used partner platforms to issue mobile promotions said they received above-average ROI, up from 66 percent of retailers in 2016.
Additional Key Learnings:
- Mobile marketing has evolved, but challenges remain the same:As mobile marketing and adaption matures, the challenges in targeting customers and effectively linking to in-store sales remain. In fact, 1 in 4 (25 percent) retailers do not have the ability to tie their mobile marketing efforts to in-store sales, missing key opportunities to provide push notifications or customized offers to help complete the shopper’s journey.
- Retailers rely on partnerships in areas where they lack expertise:Such areas include the ability to track mobile marketing efforts to in-store sales. These partnerships are also a key driver in providing mobile offers to their customers. Most retailers are sharing mobile unique promotion codes (56 percent) or mobile single-use promotion codes (56 percent) to customers through owned and partner apps.
At RetailMeNot, our brand and data experts work closely with retailers to evaluate mobile influenced in-store sales to drive more shoppers and improve conversion. In fact, according to a recent study on mobile attribution, average campaign returns on advertising spend (ROAs) with RetailMeNot equal approximately 12.6x the investment.