A demand-side platform (DSP) is a type of software that allows an advertiser to buy advertising with the help of automation. Because they allow mobile advertisers to buy high quality traffic at scale with minimal friction, DSPs are a powerful marketing automation tool.They enable companies to buy media to drive growth across the customer lifecycle, from acquisition to communication and retention.
To growth your business in 2022, we want to share important information below with you:
1. Get the right Media / Influencer attention
The product itself has that viral aspect to it to begin with, for example when someone takes an Uber home after a night out to pick up their car the next morning left in the driveway, or when someone orders food from Rappi or iFood.
2. Integrate it into transportation and food delivery apps
The aim is to enable those companies to access a new source of demand for their products through the DSPs they were already using here.
3. Make sure the B2C platform has a minimal retention rate
The easier it is for users to redownload the app after they uninstall, the easier it is to engage current and new customers.
4. Allow users to create content for other users
This can be in the form of reviews, ratings, opinions, etc. Users love creating content and it’s a great way to get them to recommend your platform to their peers in a viral-like fashion.
5. Leverage on the viral spillover effect of the products
These are the product which the company sells on behalf of others on its Demand-side platform. For example, if Uber's Facebook Ads are on your demand platform, then Uber's ads are also showing to Coachella attendees who are not actively searching for Uber. The idea is that some of these non-Uber users will give Uber a try out of curiosity after seeing it pop up unexpectedly in their feed.
6. Make use of the data it has
According to Facebook, recommendations from friends or family members are likely to convince people to become new customers. And based on its data, your platform will be able to determine which existing users are providing the most effective referrals to others, and reward them for doing so. It can also find out what sorts of features are making users more likely to recommend the app, and build more of that into the product.
7. Utilize updates to its app
For instance, adding sharing or like functions to its app are great ways to create a viral loop. It can also be beneficial for you to use influencers in their marketing, as well the popularity of many celebrities on social media. Social media can be used as a way to spread awareness about your products to an even wider audience which will generate more growth. To increase customer retention for this growth strategy, it may be beneficial for the management team of your platform to host events that people are likely to go to just because they have friends there. The event should hold high value for the customer so once they attend the event, they will want it again.
8. Include a refer-a-friend feature
By implementing this feature, you can incentivize current users to refer new users through email invitations, push notifications, and other means. This would be especially effective for markets like Brazil or Argentina where people are less familiar with referral apps like Uber or Lyft.
9. Incentivize users to refer their friends and get paid
And also friends get free accounts. On the backend, implement tools that continue to engage users using push notifications and in-app messages.
10. Onboard customers with lifetime value
It should be greater than the subscription fee.