Overview of this campaign
Omni Ekonomi was born out of the highly successful Swedish news app Omni, which already has around half a million unique users every week. As with Omni, Omni Ekonomi has been developed hand-in-hand with the users, but has focused on business news users.
The project started two years ago with interviews with Swedish business news readers. A thorough analysis was made of the problems users experienced with existing business news outlets. A daily newsletter called “Omni Morning Brief” was created to test content and different hypotheses on the users. Over 50 000 quickly read and opened it several times each week.
Based on the knowledge gained about the business news readers a completely new way of experiencing mobile business news was developed. The app was launched for iPhone and Android on November 2, 2017.
The app is best described as a combined curator-originator. Market- and company reports are covered directly by Omni Ekonomi’s eight editors. At the same time, hundreds of Swedish and international business media reports are curated into short summaries with links to the sources for further reading.
In addition to receiving more than 100 business news items each day in a customized newsflow, users can also set up alerts for individual companies and topics.
Omni describes itself as “more of a Tesla than a Mercedes”, clearly positioning itself in the premium segment while also demonstrating how it has turned the traditional business media market upside down.
Technically, Omni Ekonomi has been developed from a clone of Omni and both apps are run on a shared platform. In parallel, Schibsted has launched a version of the business news app in Norway under the name MinE24.
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Results for this campaign
In ten weeks, Omni Ekonomi has been downloaded by 130 000 users and now has almost 100 000 unique users each week. The app has more than 2 million page views per week. That can be compared to Dagens Industri, which has been the leading business newspaper in Sweden for 30 years, and has only 4 million page views a week and fewer than 500 000 readers each week.
The Omni Ekonomi app also has a high degree of stickiness and is used on average seven times a week by users. The number of page views per visit is more than 5.0.
The app also gets very good results in user surveys. 91 percent of users give the app the top ratings of 4 or 5 on the question “How likely is it that you would recommend Omni Ekonomi to a friend?” As many as 73 percent give the highest rating of 5.
Omni Ekonomi has also been praised by industry experts.
Omni Ekonomi is funded by advertising and the main business model is based on native advertising. The sister app Omni today gets 70 percent of its income from native advertising and Omni Ekonomi has received a warm welcome from the advertising market. Several large advertisers have signed long-term contracts with Omni Ekonomi and Volvo has been a key advertiser since the app was in beta-mode.
To develop the business further, an additional clone of the app has been created for The Confederation of Swedish Enterprise (Svenskt Näringsliv). That app will be used by the confederation to launch its own news service with its own brand. In addition to publishing news by Omni and Omni Ekonomi, it will also publish its own news in the app. This means Omni and Omni Ekonomi now enter a completely new field of B2B business, where incomes are also generated by creating commercial clones of the apps.