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Survey: Retailers find cross device opps a challenge
Consumer data is making targeting and retargeting customers simpler for many retailers, but there are still challenges. Chief among them: the wealth of data. According to a new myThings survey retailers are succeeding with some data usage like retargeting, but in other areas - like programmatic buying and mobile retargeting.
myThings surveyed more than 100 top European and North American retailers in May to learn how data and ecommerce is changing their world. The research shows retargeted ad spending is trending high for many retailers while the sheer wealth of data is causing some to falter. Here are some key takeaways:
• 4% say they'll reduce retargeting budgets in 2014
• 70% say they'll increase or maintain retargeting budgets
• 40% say they use data to maximize customer value
• 60% say multi-attribution modeling and data transparency are their biggest stumbling blocks
Getting a handle on multi-attribution modeling and data are key moving forward, however, because consumers aren't going to stop using multiple device simply because that makes it hard for retailers to do their jobs. In fact, some experts believe consumers will begin using more devices, making it crucial for brands to get a handle on how shoppers engage via different devices.
"Apple's continuity between Mac, iPad, and iPhone demonstrates the importance of cross device communication which is a key element for advertisers," said myThings CEO, Benny Arbel. "Advertisers need to be able to reach consumers and have 'continuity' among all devices since consumers today are on multiple devices all the time - targeting a consumer who has a full, unpurchased shopping cart on their iPad may need to be retargeted on a mobile device. This type of communication is crucial towards effective marketing."
Image via Shutterstock
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