Social networking giant is one of three major investors injecting US$18m into Boston-based proximity marketing player
Beacon technology usage is expected to get a significant boost after Twitter became one of the strategic investors injecting US$18 million into US-based proximity marketing vendor, Swirl Networks.
The Boston-based business was founded in 2011 to provide in-store mobile marketing advertising technology. Swirl’s latest funding round was led by Hearst Ventures, SoftBank Capital and Twitter Ventures and raised $18 million, bringing its total funding to date to $32 million.
In a statement, the company said the funds will be used to expand its sales and marketing capabilities as well as drive product innovation around beacon-powered indoor mobile advertising.
Its customer base already includes high-profile US retailers such as Hudson’s Bay, Urban Outfitters, Timberland and Lord & Taylor, as well as hotel chain, Marriott.
“The calibre of strategic investors and partners in this round validates the immense potential that proximity-based indoor mobile marketing has to transform the advertising and retail landscapes,” said Swirl’s founder and CEO, Hilmi Ozguc.
“Swirl is helping leading retailers, publishers and brand advertisers bridge the physical and digital worlds in a way that was never before possible. This new investment gives us unmatched resources to accelerate our efforts and extend our leadership position in this exciting space.”
According to Swirl’s own industry research on thousands of in-store interactions using beacons in the US last November, 73 per cent of shoppers who received beacon-triggered content were more likely to make a purchase during their store visit.
In addition, Swirl claimed in-store mobile marketing campaigns are already generating strong results, with 60 per cent of shoppers opening and engaging with beacon-triggered content and 30 per cent redeeming relevant offers at the point of purchase.
Research undertaken by BI Intelligence and cited by Swirl also predicts beacons will directly influence up to US$4 billion worth of US retail in 2015, climbing tenfold in 2016, with the proximity units being deployed by 85 per cent of the top 100 US retailers by the end of 2016.
Australian retailers have been slower to adopt beacon technology, although there have been a number of trials. Among these are beacons for click-and-collect services at Woolworths, beacon-enabled treasure hunts at Bendigo Marketplace, and customer giveaways at Chatswood Chase.
Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu
While approaching a customer in a shop and asking what you can help them with is Retail 101, how many of us actually enjoy being approached? Generally, you have to give the forced, fake smile and say, “Just browsing, thanks,” while screaming on the inside, “just leave me alone!” Maybe it’s just me?
Not a day passes by in the life of business executives where digital innovation or the prospect of disruption is not front of mind. This in turn, drives an unrelenting flow of questioning, discussion and strategy papers.
Unless you’ve been marketing under a rock, you’ll probably have questioned whether your media agencies are offering you transparency.
In Episode 11 of this new podcast series, BrandHook MD, Pip Stocks, talks with Australia Post chief innovation officer and former CMO, Greg Sutherland, about how brand reputation today is built on what customers say, why that’s reflective of experience, and what AusPost is doing to tackle that.
Nice post Brad! very useful information. The retail stores are really mean for every brand I am agree with you. Now Online Service Market...
Srialto
The rise of online retail marketplaces and what they mean for brands
Minor correct Nadia, just wanted to clarify that the "Marketo consultants" that did this work, were actually Hoosh consultants
Fab Capodicasa
What it's taking for Edible Blooms to grow a stronger personalisation strategy
Im not surprise though, been in the industry for couple of years and I feel and see it with my tow eyes how eCommerce platforms innovated...
Jason Smith
Australia Post earmarks $20m for Australian ecommerce innovation investment
For marketers that are "going Agile" I recommend using Ravetree. It's a really powerful suite of tools for Agile project management, reso...
Janice Morgan
7 ways to run your marketing department like a software startup
Over the years very part of our lives has become technological. That’s why I am not surprised to see that Australian home loans are going...
GreatDayTo
Why Aussie Home Loans is embracing digital transformation