Swirl Networks, a mobile marketing tech company, on Monday announced the launch of Swirl Ad Exchange, a programmatic ad exchange for “proximity-based in-store mobile marketing.”
The exchange will allow advertisers to reach consumers while they shop in participating retail locations across the U.S., per a release. The location-based targeting relies on iBeacon technology, and Swirl will let retail stores create private ad exchanges.
The company says the platform works with any Bluetooth Smart beacon broadcasting iBeacon or SecureCast signals, with NFC (near-field communication) support planned for the future.
“Today, brands spend over $60 billion a year on traditional, mainly paper-based, in-store marketing and promotions,” stated Hilmi Ozguc, founder and CEO of Swirl. “With the powerful new capabilities of SWx [Swirl Ad Exchance], retailers can now easily set up and run private digital exchanges for their brand partners to access the most valuable ad inventory imaginable: in-store shoppers using their smartphones in specific aisles, about to make a purchase decision. We are at the beginning of what will be a massive transformation in how leading brands and retailers engage with and influence shoppers in physical environments.”