WURFL is adding more features, accuracy, and speed to their WURFL device intelligence solutions. Currently, we have a new WURFL capability in beta that provides the price of the device at date of the of device release. This new capability is named “Release_MSRP” (Manufacturer’s Suggested Retail Price). We would like selected customers to engage in a beta trial and share their findings back with us.
How E-Commerce and Advertising Can Use the Price of a Device
E-commerce and advertising companies can benefit from linking indicators of willingness to buy (or price elasticity) to the products they are selling. The price of a user’s smartphone or tablet is a strong indicator of the relative wealth and willingness to spend money on an item. MSRP allows them to target ads or products in real time. Innovative companies can act on this willingness to buy in real-time, gauging their e-commerce customers’ wallets and utilizing price discrimination tactics to increase revenue. Likewise, they can link this willingness to spend to other demographic and technographic indicators that an advertiser or e-commerce player might have in their targeted buyer persona.
Contact us here to learn more about the MSRP Beta
Real Time Optimization in Advertising, E-Commerce
Device intelligence is one of the few tools advertisers and e-commerce companies can leverage to learn about a user in real-time. WURFL delivers the MSRP in real-time to the advertiser or e-commerce company.
Based on MSRP intelligence, an advertiser can offer different, more targeted advertisements. For example, a high-end brand like BMW may only want to show its advertisements to customers with premium-priced smartphones. Ad servers that can offer this level of targeting can enhance the ROI of its’ brands and differentiate itself from less innovative ad networks.
An e-commerce company might opt to dynamically change its product offerings and prices in real-time based on the user’s MSRP in order to better suit the perceived willingness to spend without knowing the user’s past purchasing history. This will lead to higher conversion and revenue.
Companies can also capture the MSRP as part of their analytics. When combined with operational and transactional data, ad networks can paint a more illuminating picture of the demographics of the ad audience. MSRP can also lead to conclusions about impressions and click throughs that guide the brand to opt for a more targeted campaign. Ad servers can lead brands back to achieving a higher ROI by leveraging MSRP as a real-time targeting criteria.