PRESS RELEASE: RetailMeNot, Inc., a leading digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store (www.retailmenot.com/corp), announced the release of Mobile Attribution Powered by RetailMeNot, available to retailer and restaurant marketers in order to more accurately determine return on advertising spend (ROAS) via its RetailMeNot mobile campaigns. Mobile Attribution Powered by RetailMeNot analyzes user actions within the app along with location data to quantify in-store footfall, attributable sales and incrementality of the sales.
To date, RetailMeNot has conducted attribution studies with more than 10 large national retailers and restaurants, resulting in average campaign returns on advertising spend equaling approximately 10 times the investment.
“RetailMeNot is leveraging location to understand consumer shopping behavior and the impact of digital content on physical retailing,” said Jody Goehring, vice president of product, RetailMeNot, Inc. “Location is to mobile what the cookie is to desktop. With the majority of our users opted-in, we now have a more complete picture of the consumer shopping journey and are able to offer more relevant content to consumers within that journey.”
To more accurately determine attribution and incrementality, RetailMeNot has expanded its ability to measure digital and mobile campaign effectiveness with a combination of anonymized consumer information that includes first-party data, geo-fencing and latitude-longitude data, along with algorithm-based smart proximity detection. This new combination of data helps retailers evaluate their in-store footfall and sales resulting from campaigns run with RetailMeNot. Store visits are based on aggregated, anonymized data from a sample set of users who have turned on location services on their smartphone. That data is then extrapolated to represent a cross-section of representative consumers throughout the country. A majority of RetailMeNot app users have location services turned on, which lends to robust location data that is supplemented with third-party location data to provide best-in-class in-store attribution measurement.
“This new method of calculating attribution is a powerful tool for me,” said Kate O’Hare, vice president of marketing, Charlotte Russe. “With the study, I can clearly see that my mobile marketing spend yielded a strong return, which is on the conservative side of the actual ROI. The combination of data, location and consumer insights helps me clearly articulate the value of mobile marketing via RetailMeNot channels on my in-store sales.”
Interested advertisers (including restaurants, retailers and brands) can contact their RetailMeNot sales representatives or email John Theiss, senior vice president, retail and brand solutions: john.theiss@rmn.com.
Methodology
RetailMeNot created a composite organization composed of the attribution results from 10 retailers to arrive at an average performance funnel and return on advertising spend. RetailMeNot uses a combination of anonymized consumer data that includes first-party data, geo-fencing and latitude-longitude data, along with algorithm-based smart proximity detection. Store visits are based on aggregated, anonymized data from a sample set of users who have turned on location services on their smartphone. That data is then extrapolated to represent a cross-section of representative consumers throughout the country. A majority of RetailMeNot app users have location services turned on, which lends to robust location data that is supplemented with third-party location data.
About RetailMeNot, Inc.
RetailMeNot, Inc. (http://www.retailmenot.com/corp/) is a leading digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The company enables consumers across the globe to find hundreds of thousands of digital offers to save money while they shop or dine out. During the 12 months ended June 30, 2016, RetailMeNot, Inc. experienced over 688 million visits to its websites. It also averaged 18.8 million mobile unique visitors per month during the three months ended June 30, 2016. RetailMeNot, Inc. estimates that approximately $4.8 billion in retailer sales were attributable to consumer transactions from paid digital offers in its marketplace in 2015, more than $600 million of which were attributable to its in-store solution. The RetailMeNot, Inc. portfolio of websites and mobile applications includes RetailMeNot.com in the United States; RetailMeNot.ca in Canada; VoucherCodes.co.uk in the United Kingdom; RetailMeNot.de in Germany; Actiepagina.nl in the Netherlands; ma-reduc.com and Poulpeo.com in France; RetailMeNot.es in Spain, RetailMeNot.it in Italy, RetailMeNot.pl in Poland and GiftCardZen.com and Deals2Buy.com in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol “SALE.” Investors interested in learning more about the company can visit http://investor.retailmenot.com.
