For those of you who may not have heard, Chomp is an up-and-coming mobile app search engine. Chomp distinguishes itself from its competition by allowing users to search for apps based on the function of the app and not just what the app is called. First, Chomp partnered with Verizon Wireless earlier this year to provide their app search engine for Verizon’s V Cast mobile app marketplace. Then, earlier this month, Chomp signed a deal to provide its services for all the apps in Verizon’s recently redesigned mobile marketplace, Verizon Apps.
Now, Chomp has gone one step further in their takeover of the mobile app market. Announced earlier today, Chomp has released a
beta version of “Chomp Search Ads”, a program that functions like Google Adwords for the mobile app search engine. “Chomp Search Ads” will allow advertisers and developers to bid on the specific phrases and keywords that, when searched for, will deliver their ads to the users. The program pairs the app ads with relevant potential customers using information about the apps they are currently searching for. The goal of this is to minimize irrelevant and overly annoying ads for the consumers and also to drive profits for the developers.
In the words of Kevin Rose, founder of Milk and Digg, “Being able to advertise the Oink app to people that are in the process of looking for something just like it is a form of targeting we haven’t seen before”. This new form of targeting has come at the perfect time for developers and advertisers as global mobile app store revenues are predicted to jump from $15 billion in 2011 to $58 billion by 2014. On top of that, up to $20 billion of that money will likely be spent on app advertising.
With over 200 million Android and iOS users browsing for apps every month, Chomp is in a great position to capitalize on this market and flourish. Only time will tell how successful Chomp will become. What do you think?