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BizReport : Mobile Marketing : January 26, 2010

Greystripe: 56% conversion rate on CPD app downloads

A few weeks ago mobile brand advertising platform Greystripe launched a 99 cent download program. The program offers app developers to distribute apps at a lower price point - 99 cents per download. Through the platform developers only paid 99 cents per download as well; prior to this developers could have paid $10 or more per download.

by Kristina Knight

greystripe.jpgBecause the program was cost per download developers were connected with a more engaged audience with a lower chance of click error because the program was opt-in for consumers.

One campaign, the popular iFarm app by PlayMesh, received a 56% conversion rate on clicks with 60,000 downloads through the Greystripe platform, pushing iFarm to the number one ranking for downloadable apps.

"These results demonstrate the success of our rich media ad formats and the significance of offering a highly interactive experience to our developers," said Kevin Granath, VP of Sales for Greystripe. "We're thrilled with the success of the program, and we will continue to offer our developers opportunities to monetize their apps and drive downloads."

Just how important are apps to mobile marketers and brands? A new report from Gartner called "Application Stores: The Revenue Opportunity Beyond the Hype" indicates that mobile app store revenue will reach more than $6 billion this year with 4.5 billion app downloads. Compared to mobile advertising revenue, which is expected to reach $0.6 billion in 2010, that is a huge number.

Add to that the fact that more consumers are upgrading mobile handsets to smartphone options and app developers - as well as mobile marketers - have money to make this year.

Tags: appvertising, Gartner, Greystripe, mobile apps, mobile marketing

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