RetailMeNot has made a decisive move into beacon technology, announcing a partnership with proximity-based marketing platform Swirl Networks.
The partnership equips RetailMeNot’s network of brands and retailers with technology to deliver targeted in-store promotions to its 20 million-strong mobile user base, using Swirl’s platform and beacon hardware.
Already in use by retailers in North America, the platform leverages low energy Bluetooth beacons to trigger the delivery of digital promotions to high-intent consumer smartphones in-store.
The announcement today (May 6) comes on the heels of RetailMeNot’s Q1 financial results, which on Tuesday highlighted a year-on-year increase of 137% in mobile sales revenue.
Strength in mobile
Despite a decrease of 1% to its total net revenues, mobile online transactions accounted for 9% of $60.4 million in first quarter earnings for RetailMeNot.
It was a period of mixed feelings for the voucher site, which saw its Q1 profits slide 33%.
Expectations for the current quarter have been capped at $58 million, which is slightly down from the $58.9 million predicted by analysts.
Remarking on the fiscal announcement yesterday, CEO Cotter Cunningham spoke of “solid progress” in RetailMeNot’s execution of plans to further monetise its fast growing mobile audience:
“In 2015, we continue to focus on innovating and investing in our highest growth areas such as in-store and mobile, increasing our audience of consumers coming directly to our marketplace, investing in a strong sales organisation to deepen our relationships with retailers and looking for ways to help more consumers save money across the growing omni-channel landscape.”
RetailMeNot says it is still on target to post a 6% increase in revenue for 2015, which would put the company in the region of $275 million – $285 million.
You can keep an eye on PI for the latest in offline performance marketing news as we continue our theme for this month.