InMobi drives 7% of sales on Myntra, other e-comm sites

BENGALURU:

InMobi

has said an average of 7% of the sales of leading e-commerce firms in India is today being driven by its product disco-very and re-marketing platform

Miip

.

The company, one of India's unicorns (private companies valued at over $1 billion), also said it has developed a mobile advertising platform for e-commerce marketplaces and other aggregator firms which sellers on these platforms can use to directly advertise on third party apps instead of depending solely on the aggregator's initiatives to drive sales. Several e-commerce marketplaces, it said, are in the process of integrating this product into their systems.


Myntra is one of the e-commerce firms that has seen a significant improvement in sales since it started using Miip. InMobi founder

Naveen Tewari

said he can not name the other firms on account of non-disclosure agreements.

Myntra CEO

Ananth Narayanan

described Miip as an “ingenious platform which can grow mobile-commerce rapidly in India.” Between February, when Myntra adopted the Miip platform, and April, the number of transactions on Myntra happening through Miip has increased 300% month-on-month. Total number of transactions a day through Miip has crossed 1,000, and average order value is $25.

For every dollar that Myntra spends on the platform, it gets $7 in return. “That's an excellent return on ad spend because the standard expectation is... $3.5 in return,” said Tewari.

Miip builds on the vast mobile advertising network that Bengaluru-based InMobi has created across 200 countries. The platform understands what a user is viewing in a mobile app, curates a set of products or content in real-time that is relevant to what the user is viewing, and serves it instantly and relatively unobtrusively in the app. If the user clicks on it and if he/she already has the relevant e-commerce app on the device, then it automatically opens up the particular product page on the e-commerce app and allows the buyer to complete the transaction.

“People go to shopping sites twice a month on average. Miip allows e-commerce firms to find the same customer in other apps that he she uses and make an offer subtly,” InMobi's global head of marketing Arun Kumar Pattabhiraman said.

Tewari said it would be a very effective channel for marketplaces and aggregators to make money. “Several e-commerce firms have tried to build their own ad tech.But they don't have the vast network of publishers that we already have and it will be very difficult for them to build that network,” he said.When sellers on a marketplace use the ad platform to advertise, both the marketplace and InMobi make money .