“Even a 5% increase in retention can lead to 50-100% revenue uplifts, it s time we focus on post-acquisition and customer engagement.”
In today s smartphone-centric world, the number of mobile users is greater than the number of desktop users, making it a necessity for businesses to penetrate the mobile ecosystem in a smart way that moves beyond advertising. It is an ecosystem that grows so fast that it outpaces the tools available for it and wappier is trying to solve this exact problem with the power of Machine Learning and AI.
The Challenge: Lack of Optimization Technology and Automation
“After 17 years of running revenue management and loyalty programs for the biggest telecom and media companies, we saw a gap in the mobile app ecosystem”, says Alex Moukas, Founder and CEO of wappier. The “Vodafones” of this world have thousands of CRM tools out there and 60-people internal or external teams dedicated exclusively to manage their CRM and loyalty processes. Apps, on the other hand, are companies of 30 or 50 people in total that are called to manage millions of consumers without ready-to-launch tools and automation. This is exactly where wappier aspires to make a difference by transforming the way app developers and marketers maximize consumer revenue with powerful AI that goes beyond typical marketing automation and workflows.
Wappier is building the Next Generation, AI-Powered Marketing Technology that leverages multiple heterogenous data sources to model consumer behavior and come up with their next best action recommendation real-time. Focusing on engineering, data science, and machine learning, the mobile tech company aims to fill this missing gap, the lack of resources and sophistication when it comes to revenue and retention optimization.
Introducing Intelligent Revenue Management
Headquartered in New York, US, wappier was founded in 2015 with the mission to introduce to the world “Intelligent Revenue Management”, technology that app developers and marketers need to better understand their consumers and make the most out of them’. Alex states, “Our platform moves beyond ads and acquisition and focuses on how to better monetize the existing consumers of an app, by making them stay longer and spend more.”
Alex describes “Intelligent Revenue Management for us means automation when it comes to managing consumers, the what, when, why and how of the offers and the rewards they receive. Our current product portfolio includes Automated Loyalty Programs and In-App Purchase Pricing Optimization. Both solutions are built on the same machine learning framework that enables platform features like:
- Multivariate Testing
- Consumer Behavior Modeling
- Predictive Analytics
- ML-Powered Audience Management
- Next Best Action Recommendation
This feature set is exactly what gives extra value to our solutions. Numerous case studies and live customer projects show that using our Technology can result in ARPDAU (Average Revenue per Daily Active User) uplifts of 120%, while boosting User Retention and Lifetime Value by 30-50%+. Machine Learning and AI are the answer.” The Vision: Scale, Grow, Expand the mobile ecosystem is exploding, expected to reach $138b by 2020, explaining why it has been the company’s main focus until recently. However, wappier will not stop there. The team continues to train and optimize its proprietary machine learning algorithms day by day so it can expand to different verticals like mCommerce and mobile messaging. The company excels in designing solutions that are customized to the needs and business requirements of each client. “Quality is nonnegotiable for us - whether it’s a new product release, a novel machine learning algorithm or a new case study, we strive to be flawless”, comments Alex.
wappier is soaring new heights in the industry. Alex reveals, “Last year our revenue increased by 4x, while in the first half of the 2018 we managed to further double our revenue.” The next milestone for the upcoming years is to maintain this growth across all areas: revenue, headcount, and clients. In pursuing this vision, the company plans to add more AI-powered solutions and features to its offering. Alex affirms, “Our algorithmic performance has increased more than 300% and we continue to optimize it every day.” He concludes, “We invest a lot of time and effort optimizing our algorithms and data models which help us roll out solutions that can predict consumer behavior in the most optimal way and across different verticals. Stay tuned!”
"The mobile app ecosystem is growing faster than a beanstalk and we are here to use AI to transform the way revenue and retention are managed and optimized."