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The key to mobile engagement is retention. Gone are the days when mobile marketers would strive to gain as many customers as possible to push their app to the top of the App Store — with so many competing apps out there, this has increased the cost per acquisition astronomically and is further impeded by low retention rates.
The first step to retaining customers is to effectively utilize unpaid tools such as mobile messaging. Reliable marketing platforms will allow marketers to examine users’ personal behaviors and automate messaging such as push notifications to appear at a time when the user is most likely to convert. This will help the users to feel valued and will encourage them to return to convert in future.
Marketers should also be wary of having a budget for retention, which can be funneled through from the acquisition spend. As a general rule, cost per acquisition should always be lower than the lifetime value of a customer. With Leanplum’s mobile marketing tools, this lifetime value can be increased considerably.
The mobile app market is becoming more and more competitive, which is why marketers need to ensure that their target audience is being delivered the best content possible. With so much choice out there — approximately 1,000 new apps are released onto the App Store each day — customers need access to apps which have been optimized and personalized for their individual needs. Mobile engagement does just this: it helps to explain to users how to use the app, before tracking their behavior to establish trends and make a better app experience for everyone.
Marketers can also reap the benefits of more engaged users, primarily by gaining higher reviews in the App Store which will lead to more app downloads. Moreover, increased conversion rates and better lifetime value will all have long term positive impacts.
Mobile engagement is linked closely to ROI . For example, by breaking down lifetime value further, marketers can calculate the number of days retained multiplied by the average daily revenue per user. This helps to quantify the value of mobile engagement tools, such as personalized notifications. A study by Leanplum revealed that sending push notifications within 30 days of initial customer acquisition increased retention by 1.5 percent.
With the current outlook of the global mobile app market, even the smallest changes can make a difference. To remain competitive amongst markets such as Japan (whose top 30 games are monetized twice as effectively as the top 30 in the US), it is imperative to use mobile marketing tools to study, target and improve the lifetime value of your customers.
For more information on how to engage your mobile customers, check out Leanplum’s Mobile Marketing Strategies webinar.