A Mobile Data Monetization Strategy is a Must

January 24 , 2019

The very nature of the mobile environment offers many advantages for successful data monetization. ReachMobi excels at mobile data monetization and can assist you with making your data monetization efforts a success.

As most online activity is moving to mobile, having a data monetization strategy structured around the mobile environment is a must. There has never been a better opportunity to succeed at data monetization, particularly when it comes to mobile marketing.

As the digital data environment has changed, it has allowed the development of massive data collections. In turn, marketers are realizing the enormous value of the data being produced and collected. Technology-based marketing and advertising companies have found ways to utilize this data in meaningful ways to more precisely target customers, resulting in improved campaign effectiveness and significant increases in revenue.

 

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The mobile platform has inherent advantages for data monetization

One of the things giving mobile data monetization an advantage is due to the fact the platform itself creates very particular datasets that are specific to the mobile industry. The mobile platform it has become the epicenter of insight into consumer behavior.

The knowledge gained is changing the way online marketing is evolving and data monetization in particular. The mobile platform lends itself to customer micro segmentation, which is very useful for targeting purposes.

Additionally, the platform makes it easier to access location-specific data, which greatly improves the ability to achieve personalization through location-based information and offers. All of this is further enhanced when combined with behavioral-based data.

 

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Understanding data monetization

Wikipedia defines data monetization as:

"Generating revenue from available data sources or real time streamed data by instituting the discovery, capture, storage, analysis, dissemination, and use of that data. It is the process by which data producers, data aggregators and data consumers, large and small, exchange sell or trade data.

 

FourCorner_icon-1Four cornerstones of monetization

Data monetization requires four essential cornerstones toward creating a new revenue stream or improving an existing one. Those are:

  • Reliable data
  • Relevant data
  • Segmenting based on data
  • Secure and anonymized data

 

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Access to large amounts of good data

Another important factor is access "big data." And not just any data. You need relevant and reliable data that can be used to create meaningful and representative consumer profiles. Large amounts of quality data are tantamount to achieving precise and accurate targeting for advertisers.

 

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ReachMobi is a pioneer in data monetization

ReachMobi has been specializing in mobile data monetization longer than anyone else. As a result, we operate one of the industry's largest databases which houses more than 1.5 billion consumer profiles.

Our robust targeting engine can run more than 20 billion calculations per day. Combining all of this with extremely precise targeting capabilities, gives us one of the most powerful data monetization platforms in existence. Our system can create real-time calculations and targeting "on the fly" based on user behaviors and other demographics.

 

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Data monetization is difficult to achieve on your own

To achieve success with data monetization, it requires a reliable partner who has access to the biggest and best data available. The more data – the better. Bigger data helps achieve more precise the targeting capabilities. This helps ensure you are reaching the best prospects and those who are most likely to engage with your offers.

But here's the problem…

While many companies may possess a lot of data on their own, they likely lack the huge amounts of data necessary for precision targeting. Add to that, they also likely lack the experience and infrastructure to execute a successful data monetization operation on their own.

 

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You need a reliable partner for data monetization

As explained above, to achieve success at data monetization, companies need a third party as a reliable partner in their data monetization efforts. ReachMobi can help.

ReachMobi possesses one of the industry's largest databases, providing not only big data – but the right kind of big data. That's an important difference. Plus, we've been at this longer than anyone else. ReachMobi has the big-data, know-how, and tools to make your data monetization efforts a success.

At ReachMobi, we've developed our own proprietary algorithms that help us target consumers with laser-like precision. By utilizing a variety of demographic and unique targeting points, ReachMobi can assist you to precisely focus on your ideal customer.

Going further, ReachMobi can develop "look-alike audiences" based upon your existing customers, to target the most ideal prospects. This eliminates wasted advertising efforts by not targeting prospects that are not likely to engage.

 

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Data monetization in action

Step 1: Strategy

Your data monetization strategy starts with a data assessment. It involves looking at the data you have on your current website visitors, subscribers, sales data and all other relevant data you have captured.

 

Step 2: Plan

The next step is exploring what you need data monetization to do for your business. This involves defining goals and setting targets. This is where you outline the roadmap for getting there. ReachMobi will provide much of the architecture and technology needed to monetize your data.

 

Step 3: Set up

ReachMobi will assist you with the set up of your data monetization efforts. This will include anonymizing your data and the other set up requirements of initializing your campaign. ReachMobi will also perform testing.

 

Step 4: Implementation

ReachMobi will implement your data monetization efforts. Will also work with you to refine and optimize your campaign. We will provide the necessary technical support to ensure everything is operating smoothly and optimally.

 

Step 5: Auditing and compliance

Another component required for successful data monetization is the auditing of your data and operations to ensure that your usage of the data is fully compliant with existing laws and regulations. Compliance not only ensures protection from potential legal issues, but in the long run – it helps promote user retention and prevents churn as well.

ReachMobi takes compliance very seriously and only utilizes legal and legitimate methods of data monetization.

 

Ready to launch your mobile data monetization campaign?

You've just learned that the mobile platform and the use of big data have come together to produce ways of building new revenue streams.

ReachMobi is a pioneering expert in the field of mobile data monetization. Consider partnering with us to launch or reinvigorate your mobile data monetization efforts.

Let's talk

Contact ReachMobi today and let's discuss how we can put you on the fast track to data monetization with your prospects and customers.