ADOTAS – Apps continue to rise in popularity. It seems as though there are apps for everything these days, from utility apps that help make people’s lives easier like Mint, which aggregates bank account balance; weather apps that incorporate social elements and crowdsourced reporting; and even ones that help users identify and purchase wines through image recognition technologies.
As companies rely more and more on developing apps that help unlock new functionalities and features for consumers, app monetization and personalization are of paramount importance to create new revenue streams and keep innovation alive.
Mobile platform AppLovin (yes, that’s its real name — akes me think of McLovin from” Superbad”) just announced a new way to help brands serve in-app personalized recommendations on mobile devices. Their adaptive personalization platform (APP) technology gathers data across smartphone, tablet and computer screens to better deliver mobile ads that drive people to convert through clicking through and making a purchase.
What makes it different? Well, AppLovin is touting a high 10% conversion rate, compared to traditional industry benchmarks of around 2-3%, so it seems like personalization is the way to go.
“AppLovin has a single mission: to help brands and advertisers tap the enormous mobile potential,” said Adam Foroughi, CEO of AppLovin. “There are more than 1.4 billion smartphones globally and people consume more than half their information on them – yet only 14% of commerce happens on mobile. A major reason is that the tried and true levers that have driven ecommerce haven’t worked on the phone and tablets.”
By delivering personalized recommendations on mobile to a billion consumers each month, it appears that AppLovin is on to something, although app monetization is pretty hot these days, with mobile media company Zumobi also recently launching its Zumobi Brand Integration (ZBi) platform for Marketers. What differentiates Zumobi’s approach is its focus on tapping into a brand’s already established user base to deliver more brand-centric communications to turn brand users into brand loyalists.
“To be highly effective in today’s digital world, brands need to harness both content and data to drive meaningful and relevant conversations with their customers,” said Ken Willner, CEO of Zumobi. “Mobile apps are an increasingly important environment for customer interaction and our ZBi platform provides an excellent way for brands to enhance and strengthen their customer relationships.”
While Zumobi is about delivering in-app cross-sell and up-sell opportunities for brands, AppLovin is all about examining an individual’s shopping behavior to predict what he or she will be interested in next through custom recommendations.
Foroughi added, “By delivering personalized recommendations on mobile to a billion consumers each month, we’ve cracked the code; beta response has been incredible among tops brands across retail, travel and hospitality. We’re excited to officially turn the platform on to give this same opportunity to any advertiser looking to dramatically boost their mobile revenues.”
Needless to say, it sounds like our apps are about to get way more intelligent.