SINGAPORE: Retailers in Southeast Asia who are not up to speed with their cross-device measurement risk miscalculating key metrics and return on investment for up to 41% of their online transactions, a new study has revealed.
Ad technology firm Criteo also said in its State of Cross-Device Commerce Report that this distorted view could result in inefficient allocation of marketing spend over time. This, in turn could affect the quality of shopper engagement and the ability of retailers to attract new customers, the report warned.
"Consumers are using multiple devices in their buying journeys, from searching and browsing, to buying. Southeast Asian retailers must therefore distance themselves from outdated device-centric marketing and adopt a user-centric approach," said Alban Villani, Criteo's General Manager, Southeast Asia.
He added that in today's competitive landscape, e-commerce must not waste money on the wrong channels and instead should adopt cross-device measurement.
"Retailers who successfully deliver a seamless and personalised customer experience across devices will then stand out from the rest," he said.
The Criteo report added that marketers need to consider how much cross-device shopping may cost in terms of ad wastage if they do not have accurate and scalable measurement.
"Shifting to a user-centric approach that leverages advanced cross-device measurement tools can accurately identify a consumer and capture a complete view of their shopping experience," the report said.
For example, cross-device analysis of shopping habits in Indonesia found that consumers view more products than traditional analytics tools suggest. What's more, consumers are more likely to go through with the transaction.
Specifically, observed conversation rates in Indonesia are 1.6 times higher with a user-centric approach rather than device-centric. Products viewed per user are also 1.7 times higher while the add-to-basket rate is 1.5 times higher.
Criteo also examined the important role of smartphones in the path to purchase and found 21% of all cross-device transactions completed on a desktop started on a smartphone, while 37% of those completed on a smartphone started on a desktop.
And regardless of purchase device, nearly a third of cross-device transactions started with a smartphone, which prompted Criteo to advise retailers that they "must ensure a synchronised experience across desktop and mobile."
Ad technology firm Criteo also said in its State of Cross-Device Commerce Report that this distorted view could result in inefficient allocation of marketing spend over time. This, in turn could affect the quality of shopper engagement and the ability of retailers to attract new customers, the report warned.
"Consumers are using multiple devices in their buying journeys, from searching and browsing, to buying. Southeast Asian retailers must therefore distance themselves from outdated device-centric marketing and adopt a user-centric approach," said Alban Villani, Criteo's General Manager, Southeast Asia.
He added that in today's competitive landscape, e-commerce must not waste money on the wrong channels and instead should adopt cross-device measurement.
"Retailers who successfully deliver a seamless and personalised customer experience across devices will then stand out from the rest," he said.
The Criteo report added that marketers need to consider how much cross-device shopping may cost in terms of ad wastage if they do not have accurate and scalable measurement.
"Shifting to a user-centric approach that leverages advanced cross-device measurement tools can accurately identify a consumer and capture a complete view of their shopping experience," the report said.
For example, cross-device analysis of shopping habits in Indonesia found that consumers view more products than traditional analytics tools suggest. What's more, consumers are more likely to go through with the transaction.
Specifically, observed conversation rates in Indonesia are 1.6 times higher with a user-centric approach rather than device-centric. Products viewed per user are also 1.7 times higher while the add-to-basket rate is 1.5 times higher.
Criteo also examined the important role of smartphones in the path to purchase and found 21% of all cross-device transactions completed on a desktop started on a smartphone, while 37% of those completed on a smartphone started on a desktop.
And regardless of purchase device, nearly a third of cross-device transactions started with a smartphone, which prompted Criteo to advise retailers that they "must ensure a synchronised experience across desktop and mobile."
Data sourced from Criteo; additional content by WARC staff
