Bango plumbs app developers into Korea's super-spenders
Cambridge mobile commerce specialist Bango has signed a groundbreaking deal with NHN ACE, the South Korean big data digital advertisement company.
Through the partnership, global app developers can easily target their offers and promotions to high value mobile and internet users in Korea.
NHN ACE and Bango are making audiences of Korean customers who are interested in paid content available for marketing. Targeting campaigns to customers with an interest in premium apps and content enables app developers to acquire new paying users and increase in-app purchase revenues, while reducing marketing costs.
South Korea is home to some of the world's highest life time value customers, who spend hundreds of dollars a month online.
Mobile devices dominate online usage, with mobile gaming popularity leading to Korea's ranking as the world's fourth biggest mobile games market (Newzoo).
The country's super spenders lay out hundreds of dollars a month on mobile content, with an average monthly revenue per user in the mobile games segment of more than $96 (Statista).
As a result user acquisition costs are very high. According to LiftOff, the cost to acquire a user in South Korea who will make an in-app purchase is $66.95, which means marketing to low or non-spenders is a sure fire way to lose money.
“Through this partnership, NHN ACE and Bango will help app developers spend their marketing dollars wisely,” said Guy Singh, vice-president of product marketing at Bango.
“By effectively targeting marketing using Bango Audiences, app developers have the opportunity to generate significant revenue from Korea's high spending gamers.”
• PHOTOGRAPH: Bango is headquartered at the Westbrook Centre in Cambridge