Bango (AIM: BGO), the mobile commerce company, announces Bango Marketplace, a new product that increases user acquisition and revenues for app developers and opens new revenue streams for mobile operators.
New product – Bango Marketplace
Using Bango Marketplace, app developers can now quickly and easily focus their marketing towards higher value customer segments, across a wide range of markets. This focus increases the effectiveness of marketing spend significantly. Bango uses technology from its recently acquired Audiens Customer Data Platform to create segments and to feed them to Facebook, Google, Oath, The Trade Desk and other places where they can be used by app developer marketing teams.
App developers and other merchants enter the Bango Marketplace online, select the data segments they wish to use, and activate their marketing campaigns. Online campaigns can be started as quickly as the same day. Bango Marketplace ensures consumer data need not be shared and that all relevant consumer protections, such as GDPR, are applied. Mobile operators can now publish customer segments in Bango Marketplace and safely unleash the value of their data at scale when they join the Bango powered commerce ecosystem.
App developers are particularly interested in customer segments where there is clear evidence of users’ ability to pay. In pre-launch tests in USA and Asia, developers were able to generate more than 2x the number of paying users from their campaigns by using customer segments from Bango Marketplace, compared to marketing without Bango.
Developers and merchants use a wide range of different customer offers, ranging from discounts to bundles, free periods, cash-backs and a wide variety of other incentives. All of these can be improved using Bango Marketplace.
Bango Marketplace is available to thousands of app developers globally – a large new market for Bango – building on Bango success with mobile operators and global merchants. Since its pre-launch in November 2018, Bango Marketplace has started to generate initial revenues from new early adopter customers.
Sales engagement with developers is through bango.com where developers can select and buy access to specific audience segments for the duration of a campaign. To drive adoption, early sales and to learn more from the largest and most innovative app developers, Bango has deployed a team to focus on app developer success with Bango Marketplace operating from its Cambridge UK, San Jose USA, Tokyo, and Seoul offices.
Mobile operators adopt the Bango Platform to benefit from its proven ability to increase Direct Carrier Billing revenues. They are now automatically able to monetize their data when they choose to. The Bango Marketplace is a strong incentive for mobile operators to upgrade to the Bango Platform.
App developers invest billions of dollars a year on marketing to acquire new users, convert non-paying to paying users and enter new markets. Bango Marketplace provides a new way for app developers to increase ROI on their marketing campaigns by focusing on high value customer segments.
Building on its existing relationships with mobile operators, and initial revenue from early adopters, Bango expects Bango Marketplace to contribute materially to group revenues in 2019, alongside continued growth in its highly synergistic payment and Audiens CDP businesses. Management will be providing further information at its annual Capital Markets Day in January 2019.
Ray Anderson, CEO commented:
“The Bango Marketplace is a unique place where app developers and merchants can use customer segments to more than double the effectiveness of their marketing spend. It enables mobile operators to safely and securely monetize their payment data in ways that were previously impossible. Mobile operators can not only earn additional revenues my monetizing knowledge about their users, but they will see additional app store sales, boosting their End User Spend.
“This is an exciting phase in the rapid growth of Bango, adding a huge range of new customers for the Bango Platform, with an opportunity for significant revenue growth without materially increasing operating costs.”