Virtual goods has become one way in which to monetize social media applications, and entire marketplace has cropped up around this. Services such as Offerpal have established monetization solutions for such socially inegrated virtual economies, from games to mobile applications.
Months after raising $15 million in funding, a new update from Offerpal extends more customization capabilities for clients. In what appears to be an enhanced dashboard option, Offerpal is launching a virtual currency analytics package for social applications and destination sites. Participants can track activity as well as monetization performance for their specific campaigns.
Custom options enable publishers to break down their data based on User Levels, character type, install source, account age, and more, ranging from basic to more complex demographics. This new tool is offered free to publishers using Offerpal Media’s Managed Offer Platform for their monetization purposes.
This all goes for tracking actual ad behavior, including revenue, impressions, unique visitors, offer clicks, completions, eCPM, click-through and conversion rates, and revenue and earnings per click. It’s a lot to think about–Offerpal has over 1,000 separate parameters by which you can drill down into your user data. Given the growing need to utilize multiple methods for advertising and revenue-generation, so many parameters along with added custom options are increasingly important for socially integrated applications.
Of course, the largest benefit of being able to customize so much of this metrics data is the fact that a publisher is more readily able to improve their virtual goods economy. From the placement of certain offers within a virtual environment to other targeting methods, the ability to self-regulate and modify aspects of the monetization platform is the next major trend for services like Offerpal.
To a certain degree, such customization options present themselves as forms of recommendations, empowering publishers with a set of tools necessary to continuously tweak their implementation of Offerpal’s solutions. A handful of other major monetization platforms, including Twofish and Super Rewards, have added custom options for their publishers as well.