Twitter boosts beacon technology with investment in Swirl Networks

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

Join the newsletter!

Or
Error: Please check your email address.
Show Comments

Blog Posts

Why doing your job well is the key to innovation

The words ‘power company’ and ‘innovation’ probably don’t seem like a natural combination. In fact, when I first went for a marketing role with an electricity company, I semi-dreaded the work I thought I’d be doing.

Catherine Anderson

Head of marketing, Powershop Australia

The great unlearning: How brands can assist with the adoption of voice

Mainstream adoption of voice technology will be all about what consumers are learning not to do.

Ash Mustchin

Director, digital and experiences, Principals

Why getting intimate is key to creating a great customer experience

According to CMO’s State of the CMO 2017 research, 83 per cent of CMOs believe customer experience to be central to their role. An interesting stat considering few of us experience great brand experiences.

Pip Stocks

CEO and founder, BrandHook

'to lesson screen time'LOL someone needs a lesson on how to lessen typos.

Andrew Ward

Golden Circles invests in content play to drive brand purpose

Read more

Hey Nadia, interesting read. We have all read about what your chatbots should offer or have but haven't came across with anything about w...

Ashish K Jain

What not to do when building chatbots and voice-based brand interactions

Read more

There are some many other great solutions compared to the ones you listed here. Our clients left some of those and switched to MARA (getM...

Alexandru Rada

CMO's top 10 martech stories for the week - 9 June

Read more

Charming Shane. You know this is a public forum, right ?

Peter Strohkorb

​CMO Interview: Why aligning sales and marketing drives innovation at Konica Minolta

Read more

I agree customer intimacy is a great way of creating better customer experience. Especially in the Insurance and Financial industry. Her...

Jessicalopez1989

Why getting intimate is key to creating a great customer experience and optimising customer value

Read more

Latest Podcast

More podcasts

Sign in