RESEARCH: Only 58% of Luxury Brands Are Satisfied with Mobile
Provided by RadiumOne
National survey of luxury retail brands reports mixed results from mobile initiatives despite increasing investment.
What was the Challenge / Background of the Campaign?
The report, published by RadiumOne and WBR Digital, showed that while 82% of luxury brands have built essential mobile capabilities like mobile optimized websites, many brands are struggling to integrate mobile technology with their in-store experience. In fact, 63% of those surveyed are still working on a roadmap to integrate store with mobile, while 31% are working with third-party vendors to enhance their multichannel initiative
What was the Campaign Objective?
The report, published by RadiumOne and WBR Digital, showed that while 82% of luxury brands have built essential mobile capabilities like mobile optimized websites, many brands are struggling to integrate mobile technology with their in-store experience.
What was the Solution?
Luxury brand executives' 2014 initiatives showed the emergence of just the tip of the iceberg for media such as mobile," said Eric Bader, CMO of RadiumOne. "We've reached a new era in digital marketing where communicating with consumers in-store is just as important, if not more, than reaching them online. Consumers are hungry to engage with retailers and in order to increase brand awareness and customer retention in 2015, marketers must deploy sophisticated technologies that enhance the consumer experience at a range of locations between home, office and retail."
What were the Results?
Key findings include:
• Digital marketing spend continues to grow: 92% of survey respondents increased their digital marketing investments in 2014.
• Brand awareness is seen as a more critical marketing goal than increasing conversions: 77% of the brands surveyed reported that brand awareness is their primary goal, while 60% indicated that their primary goal is driving trackable conversions.
• Third-party vendors are critical to display advertising: 61% of the luxury brands involved in the survey use third-party vendors for display advertising.