InMobi, a global mobile advertising and discovery platform, has announced that its remarketing platform, powered by Miip, is enabling leading ecommerce companies in India drive up to 7% of sales.
On an average, consumers buy products worth around Rs.1500 to Rs.2500 through the platform. This translates to an average return of $8-$10 worth of transactions for every dollar spent by an advertiser. Given the positive results, leading ecommerce companies such as Myntra and PayTM in India, and Nuomi in China, have started leveraging the platform to drive mobile sales.
The platform combines the power of big data analytics, creative design and powerful back-end integrations to deliver personalized shopping experiences on mobile apps. The remarketing platform also helps advertisers activate users by nudging them to make their first purchase, re-target existing users to drive incremental sales and re-activate dormant mobile users. The solution also extends itself seamlessly to support other mobile-first businesses such as on-demand services, travel, news and entertainment apps, to maximize engagement and revenues.
According to Forrester, smartphone users spend only around 5% of their time on shopping apps, with 57% of users checking them only monthly, or even more rarely. InMobi’s remarketing solution helps e-tailers reach & promote products to their existing users when they are seen on other mobile apps. Unlike other solutions, InMobi’s Software Development Kit (SDK) is directly integrated with 30,000+ mobile apps. This integration enables complete creative control to deliver a compelling storefront-like experience to users through in-app native feeds & carousel ads.
On clicking the ad, users are deep-linked directly into the app’s product detail pages, powering a seamless buying experience. By harnessing rich user intent signals collected through the merchant & the InMobi SDK, the platform delivers precise targeting and personalized recommendations, driving better results for advertisers.
“We have seen a real improvement in our re-marketing campaigns since leveraging InMobi's re-marketing platform powered by Miip,” says Ananth Narayanan, Chief Executive Officer, Myntra.
The partnerships with e-commerce companies also offer leading brands and sellers a powerful way to extend their reach & sales beyond the shopping app. Through deep back-end integrations between InMobi & the e-tailer’s platforms, brands & sellers can create audience segments in real-time and target them instantly on 3rd party apps with custom offers. The InMobi network reaches more than 135+ million users in India across 1000+ publisher properties, and this helps brands & sellers drive incremental sales as well as maximize ROI.
“Indian ecommerce is at a tipping point, and Miip is poised to play a critical role in enabling this ecosystem. Advertisers can now extend beyond driving brand awareness and app installs, to increasing sales and transactions through mobile advertising. We’re still in the early days of mobile commerce in India, as these numbers continue to rise, users will be able to discover and buy products that they need, but didn’t know existed,” said Naveen Tewari, Co-founder & CEO, InMobi.