inMarket Rolls Out Lapsed Shopper Program to Recover Lost Revenue for Retailers

Marketers looking to light a new fire under formerly engaged consumers might want to take a look at what inMarket is doing.

The mobile moments company has just launched its Lapsed Shopper Program.

Designed to reactivate lost customers for retail partners, the first-of-its kind program provides retailers with a unique ability to identify and recover shoppers who have stopped visiting.

“inMarket’s Lapsed Shopper Program identifies shoppers that have not visited a partner retailer in a set amount of time based on store category,” the company said this week. “The program determines if the shopper is frequenting a rival retailer, or simply not shopping in that category. InMarket then leverages mobile and desktop display to reactivate lapsed shoppers back to the partner’s stores.”

It could be a godsend for retail marketers. When the company conducted a beta test campaign with a national retail partner, more than 293,000 lapsed shoppers were identified — and 118,000+ (40 percent) were lured back to the store (versus a control group of 15 percent who returned to the store without being exposed to messaging).

The good news: the campaign drove an ROI of 743 percent based on the retailer’s own metrics for a single return visit by a recovered shopper.

“Retailers tell us just how hard it is to build brand loyalty in a competitive environment where customers are constantly bombarded by messaging,” said Todd Dipaola, inMarket’s CEO. “The Lapsed Shopper Program is all about identifying and reactivating shoppers who have already been to the store, and driving measurable foot traffic back in for brick-and-mortar retailers. We’re leveling the playing field for real world businesses by unlocking hyper-targeting tactics that were previously the exclusive unfair advantage of e-commerce.”

Where does the Lapsed Shopper Program get its data? Everywhere it can.

“The Lapsed Shopper Program draws real-time, first-party location data from a combination of beacons, GPS, and wi-fi in locations,” the company explained. “Direct integrations with many of mobile’s most frequently used apps — reaching over 50MM people per month as verified by comScore —provide inMarket with the largest and most accurate collection of first-party, in-store location data available in the industry.”

Want to know more about reaching your lapsed shoppers? Click here.