How to Optimize Your Strategies in Times Where Efficiency Matters Most
Right now, consumers have more choices than ever before. They can easily swipe and tap their way to whatever they want, whenever they want it. Thanks to the COVID-19 pandemic and the ever-growing demand for digital services and entertainment, the competition in the app world is fierce.??
Today, there are a whopping 5.7 million mobile apps out there globally, with 3.5 million on Google Play and 2.2 million on iOS; it's a jungle out there!?
So, how do you make your app stand out from the rest? When it comes to getting users, you've got to be strategic. This takes the perfect combination of timing, targeting, and personalizing the experience, all while being as efficient as possible.??
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We know that creative is a huge contributing factor to a strong user acquisition strategy, but app marketers still need answers! The most commonly asked questions among these marketing professionals are how to:?
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In this regard, efficient management of multiple traffic sources can take your acquisition or reengagement campaign from good to excellent. Having a results-driven approach is crucial in performance media campaigns. Planning campaigns with a holistic approach, especially when it comes to diversifying channels, is essential. Features like automation and personalization can aid in scaling the campaign. But why??
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It's clear that consumer expectations for personalization are rising, and brands need to work hard to meet these standards. Given consumers often engage with brands multiple times before making a purchase, each interaction provides brands with additional consumer preferences and campaign insights, enabling them to achieve the right level of personalization. Therefore, a savvy marketing professional will invest in user-focused strategies that add value with fewer resources and adopt channels and campaign strategies that help achieve user re-engagement and acquisition goals.?
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By creating highly personalized campaigns using advanced segmentation from your customer profiles, you can reach new potential customers with a high likelihood of conversion. Through creating things like exclusion lists to ensure exclusive targeting of new users, you will get more bang for your buck while experiencing better campaign results.?
In today's competitive landscape, it's crucial not to rely on a single marketing channel for app success. By diversifying your marketing efforts across multiple channels, you can maximize your chances of reaching a wider audience and getting more app installs. This strategic approach allows you to build a strong brand presence in the market, establish credibility, attract new users, and promote long-term growth.?
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Efficiency Results in a competitive market?
Our industry is moving further away from individual marketing (i.e., focusing on user-level data) and toward a world more focused on cohorts (i.e., aggregate data). Therefore, creating a new measurement framework should be one of the main goals for the beginning of 2024.?
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In the context of apps, cohort analysis is an extremely effective tool for gaining more detailed insights into how specific user groups engage with your app over time. It even helps refine Key Performance Indicators (KPIs) for performance measurement.?
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One significant advantage of cohort analysis is that it allows you to compare similar data to identify trends. This type of analysis enables you to answer crucial questions like:?
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- Who is engaging with your app??
- When do users tend to drop off from using your app, and why??
- How much of your revenue comes from new users versus older ones??
- What is the best time to re-engage your users??
- Which media channel brings in the most users with a positive ROI??
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By identifying trends, cohort analysis provides the necessary insights for optimizing active app advertising campaigns and making real-time changes with agility, thus making your actions more efficient. This is a proven method to increase engagement and revenue, helping you identify the right path to expand your app's UA KPIs and retention. This type of analysis is essential for optimizing user acquisition (UA) campaigns, improving retention, and estimating Lifetime Value (LTV) more efficiently.?