Technique 2 minutes, 53 second read Mark Johnson, Editor, Just.Marketing
Bango Audiences tackles the issue of poorly targeted, wasteful digital advertising. Since many too many digital ads reach the entirely wrong audience – with conventional targeting too reliant on guess work – this tool analyses purchase behaviour from billions of dollars of consumer app spending.
Marketers can then focus their user acquisition campaigns with these tailored audiences to get straight to the people most likely to buy. By targeting users who are proven to pay for similar content, Bango Audiences increases campaign conversion to new paying customers by around double, the company claims, enabling faster revenue generation.
Such Purchase Behaviour Targeting customer segmentation is seen currently as a secret weapon to increase conversion rates and revenue, ultimately proving marketing’s worth to the wider business. What makes Bango’s offering possibly unique is that it uses third party payment data from multiple purchase channels, as opposed to just first party data insights. This wider pool of payments data gives marketers insight into the buying behaviour of hundreds of millions of users, creating audiences of real paying users.
What skills do you need to use it?
Setting up Bango Audiences for ad campaigns requires no prior training or skills — they’re available for use on Facebook Business Manager or TikTok Ads and plug straight into your campaign when you set up an ad set. There is no SDK or integration required. Bango shares these audiences with you using your Facebook/TikTok Ad ID.
How much does it cost?
Bango Audiences is offered as a comprehensive tool, and the pricing is simple. Bango takes a percentage of whatever is spent on the ad campaign, much like an agency would. The minimum monthly fee is US$2,500, which applies to ad campaigns with spend of US$25,000 dollars or less. Up to ad spend of US$150,000, the rate remains at 10%. The rate decreases as ad spend exceeds US$150,000.
What benefits have users discovered?
Bango customer NEXON publishes online games and virtual worlds. It currently has more than 50 live games on multiple platforms including mobile, which are available in more than 190 countries. Major game franchises include MapleStory, KartRider and Dungeon&Fighter.
Nexon wanted to acquire users for a new game (COUNTER: SIDE) on a massive scale and establish a paying user base as quickly as possible, reaching users who like the RPG genre with their UA launch campaign.
For the COUNTER: SIDE launch campaign, Nexon used a Bango Audience made up of payers in similar core RPG apps in Korea, to target their Facebook ads at people who were most likely to become paying users.
Compared to the campaigns Nexon targeted with Facebook’s ‘Interest Audience’ for the RPG sub-category, this four-week campaign targeted with a Bango Audience achieved:
- 3.9X higher return on ad spend (ROAS)
- 2.8X higher conversion rate
- 3.6X higher lifetime value (ARPU)
- 25% lower CPI (Cost Per Install)
Nexon has been consistently using Bango Audiences since launching COUNTER: SIDE to target their campaigns.
In January 2021, Nexon used a Bango Audience of RPG payers for a large-scale COUNTER: SIDE marketing campaign. The campaign was originally planned to use the Bango Audience for two weeks, however, due to its high performance, Nexon decided to extend this to more than two months.
With 62 per cent of CEOs believing too much marketing budget is wasted on activities that fail to deliver meaningful results, according to Bango’s own research, this tool could help address their concerns.