Why you should leverage alternative app stores to advertise your cryptocurrency trading app
Why you should leverage alternative app stores to advertise your cryptocurrency trading app
The number of Blockchain.com wallets reached over 70 million users at the end of March 2021, showing an increase of 28.27 million wallets over the last year. Cryptocurrency apps have seen a meteoric rise in popularity, making it more important than ever to successfully target audiences and drive installs at a cost effective price. In this article, we cover how alternative app stores can be leveraged by cryptocurrency apps by tapping new audiences in a fraud-free ecosystem.
Restrictions on cryptocurrency trading apps by Google, Facebook and Apple
Compared to other fintech apps, Forex and cryptocurrency apps must adhere to many restrictions imposed by leading app stores and companies.
- Google (Android): At the beginning of 2021, Google released a Developer Program Policy for Android that states “We don't allow apps that mine cryptocurrency on devices. We permit apps that remotely manage the mining of cryptocurrency.”
- Apple: Among other restrictions, the App Store Review Guidelines state that for Cryptocurrency mining “Apps may not mine for cryptocurrencies unless the processing is performed off device.” For example, this includes cloud-based mining. The guidelines also explain that “Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself.” Your app also cannot offer currency for completing tasks such as downloading partnered apps or posting on social networks.
- Facebook: The social media giant’s Business Help Center explains that there are requirements for eligibility to advertise cryptocurrency services on the platform. Hardware/software for cryptocurrency mining and cryptocurrency trading platforms are allowed with permission, while token sales are not permitted. Facebook’s guidelines state that “Ads may not promote cryptocurrency trading or related products and services without prior written permission.”
With such restrictions in place, many crypto companies do not have access to the largest mobile inventory in the world. If your company cannot meet these requirements, you are only left with mobile Demand Side Platforms (DSPs) and affiliate marketing to advertise your app. However, these solutions present new issues. While DSPs are designed to automate the buying process, they are not immune to advertising fraud and not all publishers are testing their DSPs to identify fraud when it occurs. Affiliate marketing is also a popular marketing method, but it still offers limited reach and targeting capabilities in comparison to alternative app stores.
The advantages of OEM advertising solutions
OEMs, also known as alternative app stores, can help you reach untapped audiences with a safe alternative to the overcrowded GAFA app stores. Companies such as Xiaomi, Huawei, Vivo and Oppo distribute apps directly to customers using their own independent stores. OEM and alternative app stores allow advertising of financial products that have certain certifications, allowing them to access an otherwise untapped inventory. OEM advertising provides sophisticated solutions for mobile financial products due to:
- Specific targeting capabilities: OEMs are known for low CPIs and high engagement rates, but they also enable you to unlock incremental user growth. This is in addition to the targeting capabilities marketers expect from traditional app stores.
- User level data: OEMs offer access to user level data while remaining GDPR compliant.
- Worldwide Inventory: OEM inventory includes users from all over the globe, allowing you to target lookalike audiences in new regions and scale your business.
- Ability to work on different campaign models: OEMs allow you to work on several campaign models, such as CPI (Cost per Install), CPR (Cost per Revenue) and CPA (Cost per Action) . Importantly, this enables trading apps to leverage CPR campaigns.
- Safety due to non-fraudulent inventory: OEMs offer a fully fraud-free user-acquisition ecosystem because there are no additional layers between the budget holder and the OEM. Moreover, reach advertising placement is fully controlled by the OEM.
How AVOW can help
You can leverage the benefits of alternative app stores with AVOW, which has partnered with OEMs across the globe and covers 42% of the global Android market. We help clients get listed on alternative app stores with a consultative approach and provide assistance through the entire campaign cycle. This enables you to increase your reach and benefit from new revenue streams. You can also benefit from AVOW Performance Optimizer (APO), an in-house solution which optimizes all OEM on-device inventory in real time. APO optimizes the best inventory towards KPI goals and engagement levels, pushing performance campaigns to increase ROAS. To learn more, read what AVOW clients have to say about using alternative app stores’ inventory.
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Everything you need to know about alternative app stores for Android
When it comes to mobile advertising, many marketers tend to gravitate to the two largest markets, the Apple App Store and the Google Play Store. However, alternative app stores for android are growing larger and larger with each passing day. As of 2019, according to the consultancy IDC, Xiaomi, Huawei, Vivo and Oppo made up 40.1% of global handset shipments in the fourth quarter, making them extremely viable alternative app stores for Android, full of untapped markets. These alternative app stores go hand-in-hand with OEMs (original equipment manufacturers such as Xioami).
In the mobile industry, OEMs refer to companies who manufacture phones which also have their own apps and app stores - manufacturing both the hardware and software of the device. For example, Samsung – which shipped 80.4 million smartphones in the third quarter of 2020 – is a popular Android OEM. Marketers can use these alternative app stores for android to reach untapped audiences for user acquisition campaigns and app growth.
Getting set up with multiple alternative app stores can be a complex process in comparison to only use the App Store and Google Play Store, but the advantages really outweigh the work put in. Marketers can benefit from better exposure and higher user acquisition at a lower CPI (cost-per-install). Moreover, OEMs are free from fraud because there are no additional barriers between the budget holder and the OEM itself – more on this later.
What kind of app stores are out there?
Xiaomi GetApps
Xiamoni was founded in 2010, and sells hardware and software worldwide. The company is expanding to become a global brand and became the youngest company on Forbes’ Fortune Global 500 list in 2020, with over 500 million Xiaomi smartphone users in 220 regions.
As one of the top five mobile brands in over 40 markets, the Xiaomi marketing platform offers an alternative app store for Android (Google Play) and Apple’s App Store. For example, Xiaomi’s India market has increased by over 120 million within a year and reached 280 million targeted users with user acquisition ads. Users can be targeted by gender, age, region, time zone, language, and device type. The platform also offers ad frequency control.
OPPO App Market
Consumer electronics company OPPO operates in over 40 countries and sells products in 320,000 retail outlets, shipping 115.1 million units in 2019. OPPO’s Color OS has more than 300 million MAUs (Monthly Active Users) and the company’s App Store offers more than 1.2 billion MAUs. The platform offers several ad formats to create strong impressions, such as splash screen ads, icon ads, banner ads, and push ads. With sub-brands like Realme and OnePlus Oppo covers the entire spectrum from low to high-end devices, making it an attractive alternative app store for Android.
Huawei AppGallery
With a 14.7% share of the market, Huawei ranks as the third-largest smartphone manufacturer, which means that by pre-installing their App Gallery on their devices, their app store is a strong source of untapped app users. Additionally, the Huawei AppGallery serves over 500 million mobile users worldwide and 350 million users actively search for their favorite apps on the platform each month. This contributes to up to 750 million daily downloads.
Galaxy Store
Formerly known as Samsung Apps and Galaxy Apps, the Galaxy App Store is the default app store for Samsung devices. This is pre-installed on Samsung smartphones and Samsung Gear. The app store is available in 125 countries and includes apps for Android, Windows Mobile, Bada, and Tizen. The Galaxy App Store makes personalized recommendations based on user preferences, seasonality, and events. Users can use the ‘My Galaxy’ tab in the Store to customize their device and get exclusive in-app purchases for popular games.
Vivo App Store
The Vivo App Store from China has over 74 million MAUs worldwide with a focus on markets such as India (with the second largest market share, Indonesia (with the fourth largest market share), and Southeast Asian countries. Vivo app store ad formats include push ads, banner ads, splash ads, and floating icon ads.
What are the key advantages of alternative app stores for Android?
Developing apps for multiple different app store formats can be a difficult task to undertake initially, but the benefits make it more than worth the effort. Building apps for these different app stores provides access to millions more users.
- You can achieve your growth goals: OEMs enable marketers to grow on a global scale by reaching new audiences and accessing new markets
- You can reach your acquisition targets: On OEMs you pay lower cost-per-install for higher levels of user-acquisition
- You’re in a fraud-proof ecosystem: Marketers gain access to a fully fraud-free user-acquisition ecosystem. This is because there are no additional layers between the budget holder and the OEM itself: reach advertising placement is fully controlled by the OEM.
- Build trust with your audience: Users who are brand-loyal to the OEM will view your ads as more trustworthy.
Where are these alternative app stores for Android to be found?
AVOW has partnered with OEMs from around the world to help clients get the most out of their advertising spend. These partnerships with several OEMs can expand mobile marketers’ reach and unlock new revenue streams. Moreover, these audiences cannot be accessed via social, search or SDK networks. This is what makes access to these audiences so exclusive. We also help clients with a consultative approach, guiding them through the entire campaign cycle. This includes everything from how to get listed on each OEM app store, to distributing and tracking campaign performance.
Clients can also benefit from AVOW Performance Optimizer (APO), which optimizes OEM on-device inventory in real time. This is an in-house solution that optimizes inventory towards your KPI goals and engagement levels. This consequently improves campaign performance and boosts ROAS (Return on Ad Spend). All OEM on-device inventory is verified by the leading mobile measurement companies in the industry (MMPs), offering a process that uses automation to our clients’ advantage.
With exclusive access to these untapped markets, no fraud, and verification from mobile measurement providers (MMPs) working with an alternative app store for Android is the key to broadening your user base.