In-App Retargeting Insights: Evaluating Your App's Effectiveness
The strategy for apps largely remains dependent on one thing: getting people to actually use them. There are high abandonment rates for app users after initial installs and getting users to come back is a huge challenge.
App retargeting can help. By targeting people who downloaded your app from social media and asking them to re-engage, you can ensure that usage remains consistent. For retailers and brands, apps can become a key conversion cornerstone
App users typically browse more products, add more to their shopping baskets, and convert at a higher rate. Not only that, the App product page view-to-buyer conversion rate is 3x that of mobile users. So app retargeting can lead to more opportunities to connect with your shoppers, as well as higher conversions.
But let’s back up and explore exactly why app retargeting is so important:
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The Challenges of App Retargeting
Mobile marketers invest a lot of time and money in their apps. Big budgets are often set aside to drive app downloads, too, because you know that apps can attract and build relationships with high-value users.
However, app usage frequently dwindles after the install. In one report, Localytics found that around 1 in 4 people abandon apps after one use.
Without a strategy to actively engage your app downloaders, installed base usage can quickly decrease. Apps that fail to engage users and sit unused are eventually deleted, and the opportunity to engage high value users is lost. The churn of unengaged users happens rapidly after app install, sometimes with just about one in ten users remaining after seven days.
Criteo App Advertising
Your app can be amazing. But if your users forget about it, all of that effort goes to waste.
This is where app advertising technology can really help.
How App Retargeting Works
Imagine a shopper named Kim is searching for a double room for two adults, for one night in San Francisco.
As Kim browses your app, intent data is captured at each event level. Kim finishes browsing, but gets distracted and starts playing a gaming app. If the gaming app is part of your retargeting partner’s publisher network, the retargeting process continues in real-time.
Kim’s purchasing intent is calculated, the impression is purchased, product recommendation determined and design of the ad occurs, all in real-time. The ad is displayed reflecting hotels that Kim viewed, plus new discoveries based on items such as availability and pricing.
Kim clicks on the ad and is deep-linked back into your app to complete the booking.
Criteo App Retargeting: Powered by Network and Scale
Criteo App Retargeting
App Retargeting has been built to reengage your app audience and keep you connected to your most valuable users. Criteo’s app retargeting solution leverages the power of Criteo Dynamic Retargeting, a proven technology that wins over 90% of all A/B competitive head-to-head tests
Criteo App Retargeting offers:
Not only does Criteo’s app retargeting solution bring shoppers back, but once engaged, they’re 30% more likely to return and shop within the app – without further encouragement.
Criteo’s app retargeting solution delivers personalized dynamic ads that perfectly scale to all ad sizes across more than 555k mobile apps.
Through Criteo Shopper Graph and our AI Engine, Criteo’s app retargeting solution continuously organizes and analyzes insights from over 1.2 billion active monthly shoppers each year. By recognizing shopper habits like previously viewed and purchased products, sites visited, and interaction, the Engine uses real data to drive the most sales.
Here are three examples showcasing the powerful benefits of App Retargeting:
CheapoAir
CheapOair is one of the most popular travel websites and is consistently ranked among the top five online travel agencies by Experian Hitwise.
Challenge
To sustain its leading position in the highly competitive discounted travel segment, the company remains focused on staying in front of travel buyers during critical moments throughout the purchase process. Increasingly, this requires reaching and converting consumers in-app on their mobile devices.
Solution
By taking full advantage of App Retargeting leveraging Criteo Dynamic Retargeting capabilities and reach, CheapOair has continually improved both the efficiency and scale of its mobile performance marketing efforts.
Trendyol
Trendyol is the leading online fashion retailer in Turkey, with more than 4M unique visitors monthly, according to ComScore. The brand was among the first in market to develop a mobile-centric strategy focused on providing the best possible user experience through a mobile app.
Challenge
Trendyol was looking for a way to maintain an outstanding user experience for app users while maximizing in-app conversions and revenue. Criteo App Retargeting performance ads provided the ideal solution – serving personalized recommendations and relevant ads to some of Trendyol’s most valuable customers.
Solution
Criteo’s mobile in-app ads combine real-time customer behavior data with Trendyol‘s own product catalog and creative content. Trendyol’s in-app campaigns serve fully personalized, dynamic banners to users in real-time, with each ad optimized to maximize conversions within Trendyol‘s ROAS goals.
Results
Mobile transactions grew from 10% to 24%
App users are some of the most valuable shoppers a brand can have, but only if they keep coming back to use your app. With app retargeting, you can drive engagement across the entire app usage lifecycle. Whether it’s re-engaging inactive users or driving repeat sales from your best shoppers, app retargeting helps you encourage shoppers to return to your app and ultimately convert them into buyers.
The strategic importance of retargeting
Mobile marketers know all too well the ongoing pressure to strategically portion marketing budgets effectively, realizing the greatest impact and most lucrative rewards. Because of the unique power of retargeting to spark interest in users who have been engaged previously and are therefore most likely to convert, it has become a cornerstone of mobile marketing strategies. The widely held belief is that it’s worth spending money on retargeting campaigns because that investment will be repaid and then some, and this bears out when we look at the numbers.
It's a well-known industry fact that existing users are more valuable than potential app users. With studies showing that user retention drops significantly as early as three days after app install, a pool of lapsed users prime to be retargeted could be sizable. It’s a symptom of today’s digital environment that apps can swiftly grab and lose the attention of a mobile user, for many reasons such as sheer volume of apps downloaded and the competition this creates. So why not reinvigorate dormant users with specific creative or promotions to drive conversion towards your most lucrative in-app events? Retargeting campaigns allow you to hone in on refined usersets and provide them with a highly customized marketing experience.
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Interestingly, because this cohort of existing users has already been exposed to your brand, the stats indicate that three out of four notice ad retargeting. These high attention levels serve to underline this group as ideal for marketing budget spend. 17.5% of apps running retargeting campaigns see a 25% conversion rate.
To bring retargeting to life, check out an example scenario below.
In this example, your mobile analytics reveal that a user plays the free version of your gaming app, but has expressed interest in your monthly subscription by engaging with your paywall. However, some time has passed and they still haven’t made a purchase. You retarget this user with a specific offer or promotional tactic to persuade them to return to convert.
Retargeting is similar to re-engagement—another form of remarketing. Retargeting campaigns target a user who has not yet converted, while re-engagement campaigns target users who were formerly active but have since churned.
There’s much debate about user acquisition versus retargeting, which usually comes down to LTV and ROAS. For app marketers, this poses an important question: why spend money on driving new users when you could spend the same, or much less, on those who are further down the funnel?
While a balanced approach works best, the effectiveness of retargeting shouldn’t be ignored. It’s a successful strategy used by thousands of marketers every day, as it moves already-acquired users to the conversion stage. It’s important to remember that while interest may not guarantee conversions, retargeting also helps to keep your brand on users’ minds.
Reaping the benefits: How retargeting achieves a better ROI
To understand how retargeting is beneficial to marketers, here are a few of the primary benefits:
Making retargeting work in practice
What does the retargeting funnel look like in action? After users have initially engaged with an app, the app developer and/or marketer can delve into the app’s analytics to identify users who have not converted recently but have a high lifetime value (LTV) potential.Those users are then divided into audiences. With segmented audiences, the marketer can now deliver personalized push notifications or ads to re-engage those users. These ads remind users of products they've viewed or rejected, introduce new deals, or offer unique discounts.Those users are then divided into audiences. With segmented audiences, the marketer can now deliver personalized push notifications or ads to re-engage those users. These ads remind users of products they've viewed or rejected, introduce new deals, or offer unique discounts.. By keeping your brand top of mind, you increase the likelihood of users returning and completing a desired action.
The potential appeal of a previously viewed product cannot be overstated–the appeal of an individual product is the main reason 37% of customers click a retargeting ad. The effectiveness of product reminders is one of the drivers behind retail topping the list of industries using retargeting campaigns.
What are the benefits of app retargeting?
Retargeting provides an opportunity to reactivate existing customers, bringing them back to the app to increase usage and maximize campaign ROI.
According to a study carried out by Appsflyer, on the Incrementality and retargeting of apps, fulfilling certain conditions, the re-engagement activity can reactivate at least 13% of inactive users. Among the most notable conclusions of this study, we can mark how important it is to take into account that the duration of inactivity could be a significant differentiator of the audience. That means each group should be treated as a separate segment that has different needs, demands, content, CTAs, in-app experience after reactivation, etc.
Retargeting also proved helpful in increasing the number of loyal users and reducing churn. The percentage of users who remained loyal was 20% higher among those exposed to a retargeting campaign.
It is recommended that when retargeting active users, campaigns deliver real value, otherwise you risk upsetting this key user base that is already engaged with your app. We must also remember to keep in mind that all elements of the user experience, from frequency to creative and messaging, through to the in-app experience, are integrated and interconnected.
Increased adoption and retention
There is a misconception that app retargeting is a tactic that only serves to win back inactive users. The truth is, when done right, it can increase app usage throughout the user cycle, move users down the conversion funnel, and help brands convert users into repeat customers.
Competitive advantage
Whether brands are targeting highly competitive markets, such as Latin America or Asia Pacific, or trying to expand their presence in more mature markets, one thing we must be clear about: strong branding efforts do not equate to success. This is especially true in verticals like taxi or food delivery, where users often switch between competitors to find the best deal. In these cases, app retargeting plays a key role in helping brands maintain the desired state.
Incremental revenue
User acquisition finds new users, while app retargeting targets users who have already interacted with the app. Marketers can use data from past in-app activity to predict which users are most likely to convert after seeing an ad. With user-based retargeting, this data can be used to adjust advertising and bidding strategies for each user to increase revenue.
Retargeting customers is often a fraction of the cost it takes to acquire new users, so when marketing budgets are stretched, an early app engagement strategy can deliver a more substantial return on investment than an early approach—powered by AU.
How can retargeting be customized for each application category?
E-commerce:?
The most obvious use of retargeting is to influence e-commerce strategies. These apps often have detailed product feeds and can easily use features like dynamic product ads to drive purchases based on a user's wish list and past searches.As a bonus, apps can activate these carts on big shopping days like Mother's Day and Christmas.
Food Delivery:
Users are using more and more food delivery apps, and becoming popular is not just about discounts and promotions. Retargeting allows brands to remind users how an app can help them. Brands can recommend features similar to what users want, remind users why they like the app, or show ads that highlight new offers. Encouraging users to make in-app purchases more often helps create new shopping habits, encouraging users to engage and spend more than ever before.
Food delivery apps can use special dates and events to increase instant conversions by offering highly relevant offers, such as treating users to a delicious hamburger while watching football.
Taxi :?
This topic is another example where building usage habits is an advantage. Engagement can be increased by considering hyperlocal events, dates or even times when demand for taxi services increases. Offering users a safe ride to an event or arriving at rush hour on a rainy day can make a big difference in user engagement.
Fintech :?
Fintech applications are constantly evolving to add new features. App retargeting is a great way to get users to try these features. Creating ad groups that cover a wide range of services and app updates is a great way to keep users coming back.
Future Thoughts :?
Data quality is guaranteed with the control distribution with a 10% control group and a 90% test group exposed to retargeting. This allows us to measure the increase generated by key metrics between the control and test group to demonstrate effectiveness or retargeting.
Article Credit : Shashank Rao
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