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Why More Mobile Data?
April 30, 2014
As Susie outlined earlier, our goal at Aquto is to create a “positive sum game” where all participants in the mobile value chain give a little bit of what they have in abundance, in order to get more of what they need, creating a value positive exchange. But what kind of currency would have the biggest impact to facilitate this kind of exchange?
Before we started with mobile data as the currency in our services, we ran a number of tests to see how well they worked. The results demonstrated that mobile data as a reward was much more effective than alternatives such as cash, gift cards, songs or special content.
Why should that be? Because when the transaction is presently properly, the dollar for dollar perceived value of mobile data is higher than for other rewards. In other words, for every dollar spent on mobile data rewards, advertisers get greater brand affinity, can expect deeper levels of engagement, and more actions & conversions.
What is it about mobile data that increases its perceived value? Firstly, it’s a non-discretionary part of most consumers’ budgets. Mobile connectivity is no longer a nice-to-have, if it ever was, it is an absolute need-to-have. Mobile internet growth rates confirm its importance. Unlike content and gift cards, the cost of mobile data is a fixed part of most household budgets. It seems that contributing to a household’s non-discretionary budget items has a more positive impact than impacts on discretionary items.
The second reason is the easy and instant nature of the reward transaction. Due to our direct carrier integrations, we can identify, qualify and reward users instantly and seamlessly.
And the numbers demonstrate the superior value of mobile data as a currency. We conducted a proprietary study, comparing the impact of mobile data rewards vs. cash, and the results were astounding. Users that were offered mobile data rewards engaged at nearly 3X the rate of the users that were offered cash.
Mobile data rewards give marketers’ the opportunity to boost the perceived value of the rewards they offer. On a macro scale, that increase in perceived value turns into real value for advertisers that are looking to get as much engagement, brand affinity, and consumer actions out of their marketing dollars, as possible.