No one can deny the fact that mobile app marketing has become the next big thing for businesses. Users spend their time browsing the internet on their phones and tablets. In fact, last year, almost half of the internet traffic was coming from mobile devices.
But wait, is traffic the only thing that a business expects to get from a mobile app? Certainly not!
After all traffic – or just a huge number of installs – does not pay the bills, does it? So, how do you measure the success of an app for a business? Or, if we put it in better words – what is the one figure that actually matters in a mobile app for a business?
Mobile app conversion events that matter
Is it just the install, or is it something more important than that?
Before answering that question, let us take a look at some interesting numbers.
According to eMarketer, after installing an app, the number of app usage events was 35% for iOS users and 30% for Android users. However, this number falls back to a mere 3.2% and 3.3% within 30 days.
The biggest reason behind this is the ever-increasing competition creeping up in the app market. So, how do you maintain the interest of users after they have installed the app?
Here are some tricks to increase usage and conversion events that actually matter to the success of your business. These strategies for mobile app conversions have worked for the most successful apps out there. Give them a try and see how they work for your mobile app.
1. In-app events
Categorizing users into different segments based on their actions once they download the app can be the smartest move.
Here is a small example.
Suppose you have a gaming app that gives users the option to go for a full tutorial. Now, it is obvious that only those who are interested in the app will go for a complete tutorial, and are bound to retain for a longer time, whereas the ones who leave it in-between are going to be somewhat disinterested in the app.
You need to find the correlation points and then take steps to improve customer retention using that data.
2. Acquisition campaigns
Finding correlation, as mentioned above, is the first step of getting the best ROI from your app. The next step in the mobile app conversion chain of events is to draw the acquisition path.
For instance, a campaign that has underperformed – even after all the tricks mentioned in the first step – can be discarded. Rather than that, you can focus on investing resources in a strategy that has resulted in a lot of active and engaged users.
Ratios like ARPU (Average Revenue Per User) and loyal users, versus number of installs, are some of the most important mobile app metrics you need to consider when measuring the success of your user acquisition strategy.
Are you tired of trying to figure out what’s the best way to generate profits for your business? Maybe you can’t find a profitable strategy because you don’t know what really works. Measuring the right data and focusing on important business information can help you get out of this vicious circle of low income.
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3. Cohort analysis
In layman terms, cohort analysis is the method that will enable you to group together mobile app users showing similar behavior, and analyze their KPIs over the course of time.
In simpler words, “cohort” is just a fancy word for group. Cohort analysis allows you to categorize and measure the quality of your average app user. Read this article to learn more about how to do it.
Based on whether the quality of the user is increasing or decreasing over time, a business can further plan its next step. After all, being prepared for one step in advance is the first sign of a smart business.
Isn’t it so?
The best way to boost your conversion rate is to make sure you carry out proper deep-linking in the app.
What this means is that you add deep links in the app that allow you to get the user to land on any specific web page that you want.
This is where it gets tricky. You need to insert the deep-links without compromising the user experience. Here’s a small example of how you can handle it.
Suppose you are offering a 30% discount on the first order to all your new mobile app users and have sent an email regarding this. Now when the user clicks on the link, it takes him to the app download page. Once installed, the first message that the user gets to see is again the promotion offer that drove him here.
Doesn’t this make an impact?
So, you can learn from this trick and develop your own strategies to make sure you drive users to the page you want, without compromising even one bit on their app experience!
These mobile app ratios matter…
It has been observed that during the earlier phase, when mobile app marketing was in its early days, people used to think of click-to-install rate as the factor that determined the success of an app for a business.
However, thanks to the rise of metrics, meticulous evaluation and a better understanding of the date, the focus has now shifted to metrics, such as:
- Retention rate or churn rate
- ARPU (Average Revenue Per User) or ARPPU (Average Revenue Per Paying User)
- Daily active users or monthly active users
- Cost per active user acquisition
- Average lifetime value of users
Read this article if you want to learn how to calculate important mobile app usage ratios.
Keeping track of such conversion events and ratios, is the ultimate factor that can help you get the best ROI. After all, as mentioned in the earlier part of this blog, only app installs won’t pay the bill for your business. It’s the monetary returns that you get that will prove to be vital to the success of your business.
Do you want to meet your mobile app marketing goals?
This is the one question that causes sleepless nights for many business owners because they fail to understand the conversion metrics that actually matter in mobile apps.
If you were also part of this creed, then now you have a clear picture of what you should measure and what should not! Based on the information provided above, you can eventually plan your mobile app marketing strategies and get better results.