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
In our fifth and final episode, we delve into the relationship between retailer and supplier and how it drives and influences launch marketing strategies and success. To do that, we’re joined by Campbell Davies, group general manager of Associated Retailers Limited, and Kristin Viccars, marketing director A/NZ, Apex Tool Group. Also featured are Five by Five Global managing director, Matt Lawton, and CMO’s Nadia Cameron.
With continued advances in marketing technology, data privacy continues to play catchup in terms of regulation, safety and use. The laws that do exist are open to interpretation and potential misuse and that has led to consumer mistrust and increasing calls for a stronger regulatory framework to protect personal information.
Environmental, Social and (Corporate) Governance is a hot topic for brands right now. But before you start thinking about doing good, Craig Flanders says you best sort out the basics.
Through the ages, from the fields to the factories to the office towers and now to our kitchen tables, collaboration has played a pivotal role in how we live and work. Together. We find partners, live as families, socialise in groups and work as teams. Ultimately, we rely on these collaborative structures to survive and thrive.
Nowadays, when everything is being done online, it is good to know that someone is trying to make an improvement. As a company, you are o...
Marcus
10 lessons Telstra has learnt through its T22 transformation
Check out tiny twig for comfy and soft organic baby clothes.
Morgan mendoza
Binge and The Iconic launch Inactivewear clothing line
NetSuite started out as a cloud-based provider of Enterprise Resource Planning software or as NetSuite solution provider, which companies...
talalyousaf
NetSuite to acquire Bronto's digital marketing platform for US$200m
Thanks for sharing this post, its really good information I get through this blog.CDPO Online Exam Training
Infosectrain01
3 ways Booking.com is improving its B2B marketing game
Time is of the essence, especially for customer service teams. With chatbots, you can interact and assist customers at a larger scale, al...
Jai
Triple-digit customer database growth, personalised engagement become reality for Stone & Wood