Mobile apps sit on large amounts of first party data. While this data is mainly used for in-app functionality and driving engagement, there are still quite a bit of opportunities to unlock more user value, especially with becoming a strong media property for brands. The answer lies with external data enrichment.
What’s external data enrichment for mobile app publishers? Simply put, it is a way to enrich the existing first party data that apps already own with universal – online, offline, psychographic, demographic, geographic and more – insights about their users.
How external data enrichment empower mobile apps
For one, it helps app businesses counter the challenge of online and offline consumer insight silos as well as to address the marketing needs of a mobile-first world.
External data enrichment holds far more extensive insights into users than first party data ever did. By using enriched first party data, app companies have a brand new opportunity to –
- Deliver customized experiences to users, thus retaining and enhancing eyeballs and engagement
- Hyper-personalize UX based on holistic consumer insight, thus winning user loyalty
- Create audience segments that are truly relevant to their advertisers’ businesses, thus enhancing their value as a media property and winning more ad dollars
External data enables a 360-degree view into consumers. These holistic data points and targeting strategies are allowing apps – and consequently, the brands that advertise with them – reach audience segments that are relevant for their campaigns. This in turn increases the yield and performance of the campaign.
A new era of monetization for apps
External data enrichment is already at the epicenter of a new era of informed, insight-led digital advertising. And apps are maximizing it for higher outcomes on their media properties.
In fact, one of the most popular mobile apps in Asia recently partnered with Lifesight to enhance its value as a media property. What started as a conversation about the challenges they were facing quickly changed to leveraging the opportunity to monetize their first party data through external data enrichment. With the power of first party data combined with rich external insights about their users, the app was able to increase engagement by 21% – a jump they hadn’t expected to see in this difficult year. This resulted in a significant jump in advertising revenue as well.
Before you go
Are you ready to join the many apps that are making themselves indispensable for brands with their high usage and strong engagement? Because the times are getting increasingly competitive for apps and the ones that make brave data decisions today are the ones that will thrive.
Holler for a demo – we are here to help you usher in a new era of app user engagement and advertising revenues.