Retailers Struggle To Implement Personalized Ad-Programs
While more and more retailers have begun to understand the importance of personalized advertising, a good number of them are experiencing challenges in running such programs. A recent research report titled: ‘Performance Marketing Asia’ conducted in partnership with Worldwide Business Research (WBR) found that almost 70 per cent retailers feel the challenge lies in identifying the best technology partner and accuracy of the solution.
The report launched by marketing research firm Criteo also mentioned that 62 per cent of Indian retailers face a challenge in finding properly segmented market and consumer level data. Almost 54 per cent retailers find it difficult to achieve and justify ROI, whereas, nearly half the retailers felt that due to internal factors, lack of management or department support, it is difficult to tap the right customers online.
Nonetheless, personalized advertising is going to see the largest growth over the next 12 to 18 months, and marketers will have no other option but engage customers with a more personalized and focused approach. The survey shows, 36 percent of online traffic for major retail, e-commerce & travel companies in India, comes from mobile websites and apps generating overall sales of 32 per cent. Online traffic from mobile apps alone, comprised of 11 per cent, which totally got converted into actual sales.
It is clear then that the tremendous increase of smartphones, the rising use of social media platforms, e-commerce websites and the customer readiness to adopt new digital technologies, has led to an upsurge in growth of mobile traffic in India. Of course marketers too are realizing the significance of cross device advertising and are expressing the importance to engage customers. However, these challenges are holding them back, as, 50 per cent of respondents feel there is lack of internal knowledge or skills to run these programs.
Dushyant Sapre, Commercial Director of Criteo India said, “M-commerce and e-commerce are on the rise in India, and the number of devices through which customers interact with brands during the shopping journey is also increasing. It has hence become equally important for brands to connect with their users strategically and personalize their brand strategy.”
Companies should also focus on building a powerful case for internal transformation and development amongst management of teams, enhancing their own technological knowledge, and perhaps most crucially, partner with the right solution providers to help them meet their goals, recommended the report.
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