Greystripe seeks to mend broken app ad system
ADOTAS – iPhone app advertising economics are giving app developers the short end of the stick, claims mobile brand-advertising network Greystripe. But instead of griping (or taking advantage), the network has come up with a dollar-menu, opt-in solution.
iPhone app developers can advertise their wares on mobile ad networks on a CPC basis, paying anywhere from $0.25 to $0.40 for a click, which takes the clicker to the app store landing page on the iPhone. However, only 2% to 10% of users actually download the advertised app; Greystripe calculates that means each download could actually cost between $2.50 to $10, particularly devastating for the developer of a free app. In addition, Greystripe claims CPC to conversion rates are low because of errant clicks.
Greystripe’s solution is to offer a $0.99 pay per download program for makers of free apps. However, this will be limited to the first 200 developers who sign up with a minimum $10,000 advertising spend.
“Getting app downloads has become more expensive than the app development process itself,” states Greystripe CEO Michael Chang. “We’ve heard hundreds of complaints about the current mobile advertising system and we are looking to move the needle for the app economy.”
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