TapCommerce is a leader in re-targeting customers for a variety of different mobile apps and services. The concept of their service is identifying customers who have visited a site, or downloaded an app, but haven’t returned recently. Statistics show that only about 5% of mobile apps are still being used within 6 months of the app being downloaded. TapCommerce works with companies to bring those customers back so they can reengage with the app or mobile property, and ideally turn into repeat customers.
Already a leader in this market, TapCommerce has just finished a Series A round of funding in an attempt to gather together the capital necessary to expand their reach in this market. They were able to raise about $10.5 million in new revenue from a variety of sources, including venture capitalist giants like Bain Capital and RRE Ventures.
Re-targeting existing customers is an excellent way for businesses, especially those who target customers on their mobile devices, to expand their revenue. It is much easier and less expensive to get someone to start using an app that they have already installed than it is to get people to install a new app. With this in mind TapCommerce has developed innovative ways to use mobile advertising and other methods to re-target these customers.
They already have many big name customers, including eBay, Fab and Jackthreads, and more customers are undoubtedly looking closely at this service. Being able to re-target existing customers effectively is an excellent use of resources, and can really help many different types of companies to improve their return on investment for each customer acquisition over the long term.
TapCommerce said of this round of funding that, “part of the funding will be going to land grabbing, just as it was on the web.” Mobile apps and websites are a very competitive market, so companies need to harness any advantage they can for engaging their customers, and this is an innovative tool that will help companies maintain their edge.
What types of things do you do to help reengage lost customers? Have you ever used a service similar to TapCommerce? Share your experiences in the comments below.
