Even though sticker shock is weighing down excitement for the upcoming launch of Apple’s iAd mobile advertising platform, other providers are already cashing in on the craze.
Greystripe’s innovative iFlash technology delivers Flash-authored ads as HTML5 into iPhone Applications, creating a favorable alternative to the limited nature of iAds. Greystripe’s “iFlash Custom” ad format, which the company has been delivering on the iPhone platform for over 18 months, provides a similar experience to iAds including rich media animation, touch interactivity and multiple click-actions without leaving the application.
While many mobile-ad providers are fearing the increased competition imposed by iAds, Greystripe has positioned itself to capitalize on the momentum. “Although Apple’s iAds will increase competition, the growth of the pie for rich media mobile advertising will accelerate dramatically thanks to Steve Jobs,” the company said in a press release.
Greystripe currently holds a 75% market share of the full screen rich media mobile market. Over the past 2 years, the Company has served over 2 billion full screen rich media impressions, and reaches 14 million unique monthly users with these types of ads in the U.S. Greystripe’s repeat advertiser business for its iAd-like “iFlash Custom” ads is largely due to high user engagement rates, which reach 2 to 5% CTR on average, with 15-30+ seconds of user engagement, and brand lifts of between 30%-55%, according to recent reports by comScore Inc.
“Apple’s selection of an ad format almost identical to our ‘iFlash Custom’ ads is a testament to the incredible potential of interactive, rich media mobile advertising and the value of customer engagement,” said Michael Chang, CEO and founder of Greystripe. “Once iAds launches, Madison Avenue will begin to change their expectations on what mobile advertising should really be, something we’ve been evangelizing for years.”