A recent study by local business, sbFlourish has found that half of Australia’s retailers are failing to make use of advertising technology and connect it to their social media accounts, thereby losing sales to their bottom line.
Out of sixty online retailers sampled, the study found only 56 per cent had applied pixels to their websites and 0 per cent with a physical store had their location activated. SbFlourish’s CEO, Jessica Sullivan said these are the essential ad tech ingredients for building audiences and automation.
“Pixels are among the leading ad-tech tools available today for retailers to maximise their exposure to individual customers across the internet. If those selling goods or services have a strategy to seamlessly connect to potential customers through such tools, it increases the effectiveness of their business three-fold, driven by sales,” Jessica said.
“Online retailers significantly underestimate and underutilise advertising technology and are missing out on sales and profits simply by failing to integrate it in their business operations.”
The study confirmed that the majority of retailers rely on social media likes and followers to drive sales.
“Many retailers and brands think that having an Instagram account and Facebook page that drives likes and followers is the start and finish to their digital strategy. That’s a myth. While likes and followers are important for general brand building and awareness, this doesn’t connect to direct sales. Ad tech does,” Jessica said.
“Let’s face it, we’re on our mobiles and multi-tasking constantly, and more easily distracted than ever, so it’s crucial for online retailers to reconnect with shoppers where they left off.”
The study was conducted by sbFlourish and researched 60 retail websites and their connection to social media and online marketplaces.
sbFlourish has helped local businesses increase their online sales through ad tech. One case study is Palm Beach Collection, which increased its online sales year-on-year by 60 per cent in February, within three months of implementing sbFlourish ad tech strategy and solutions.
“The results speak for themselves. We have learnt a lot over the past few months, but we know this space is constantly evolving so we’ll always be learning how to adopt advances in this space to suit our business,” said Kirsten Walker, Director of Palm Beach Collection.
IMAGE | CEO and Founder of sbFlourish, Jessica Sullivan.
sbFlourish builds smart applications for social media marketing centred around the core concept of scaling the use of personalised advertising to create more individual, insightful, and longer lasting engagement processes. Theyhelp clients to identify and grasp the opportunities that exist from transitioning to a social business. Social businesses are those that innovate to extract the full value of social media technologies. They harness the capabilities of social media for core business operations and step beyond marketing to personalised engagement, customer service, collaboration building and enhancing innovation capability.