Mobile advertising and discovery platform, InMobi, has just released some data that shows its remarketing platform, powered by Miip, is driving up eCommerce sales by 7%. Miip is InMobi’s digital curator and discovery platform launched last year.
The company says that the average consumer purchases products worth around Rs.1500 to Rs.2500 through the platform, which translates to a return of $8-$10 for every ad dollar spent. Prominent eCommerce retailers such as India’s Myntra and PayTM and China’s Nuomi have since started using the platform.
InMobi Miip drives eCommerce sales by 7%
The platform packs a combination of data analytics, creative design and back-end integrations to drive a more individualised shopping experience on mobile apps. In addition, advertisers can tap into the remarketing features to nudge users to make their first purchase or re-engage existing customers.
InMobi says that the solution also extends to on-demand services, travel, news and entertainment apps to increase engagement and revenues.
With smartphone users spending just 5% of their time on shopping apps, and 57% checking them only monthly, according to Forrester, the remarketing solution can help to reach users even when their being spotted on other mobile apps. InMobi’s SDK is directly integrated with over 30,000 mobile apps.
When a user clicks on an adverts, s/he is deep linked to the app’s product detail page for a seamless buying experience.
Ananth Narayanan, Chief Executive Officer, Myntra, says:
“We have seen a real improvement in our re-marketing campaigns since leveraging InMobi’s re-marketing platform powered by Miip. Miip is an ingenious platform which can grow m-commerce rapidly in India.”
In partnership with eCommerce companies and a deep back-end integration between them, InMobi is able to let sellers create audience segments in real-time and target them instantly across 3rd party apps with custom offers. The company’s network now extends to 135m users in India and over 1,000 publishers.
Naveen Tewari, Co-founder & CEO, InMobi, adds:
“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.”