A company’s app, just like its website, has to engage users for you to get your money’s worth or, even better, see a profit from developing an app for your brand. Engagement keeps users coming back, but what encourages this engagement? For starters, your app has to provide content. However, that content must be laid out in a way that your customers specifically find useful; otherwise, they’re not going to engage with your app.
Engagement is also necessary if you intend to compete with the millions of apps that already exist. With more than 1 million apps in Google Play and the iTunes Store each, yours needs to somehow appeal to users. Free is something that users are looking for, with more than half of the top 25 apps in Apple’s stores having no cost at all to people who download them. Instead, apps rely on ads for profit, but ads only create a profit as long as people are actually opening and using your app, which is why engagement is so important.
However, having an app isn’t just one way to increase ROI into traditional channels. App developers have found new ways to engage with app users to monetize apps. This includes micro-transactions within apps. Businesses have to look no further than the success of mobile gaming company Zynga to understand how transactions as small as one dollar can lead to a million-dollar profit — almost $150 million in just quarter 4 of 2013, in fact. While Zynga isn’t a company with a traditional product or service to sell, the company’s success via app-based games shows just how anyone can take advantage of technology to increase ROI.
Your App and ROI
If there’s one thing that will make most companies take app development seriously, it’s the idea that revenue is still growing. No one yet knows how large the app industry will become, but companies like Zynga have already made hundreds of millions of dollars. Experts suggest that these revenues will only increase across the board throughout the next several years.
Are few tools will help you ensure the increase in ROI for your own company. One of those is push messaging or the ability to send alerts to users even when they’re not within your app. Notifications of a new sale or coupon, for example, can get mobile users back to your app. A/B testing is also important to determine which paths lead to the greater ROI, and it’s easier than ever to do if you’re using the right platform.
Improve App Experience, Maximize ROI
Here are a few tips to get the biggest return on your app.
- Advertise the release and update of your app through press releases and through your social media channels.
Expand to the global market to quickly add possible new subscribers.
- Use analytics to locate bottlenecks, which are often flaws in your user interface. Remove screens, clicks and wait time wherever possible as this cuts into your ROI.
- Buy ads for your app in other apps. Analyze to determine where to best spend money for the most downloads by the most engaged users.
- Use push marketing to attract users who haven’t launched your app in some time. It doesn’t matter how many people download your app if they only open it once.
- Offer incentives that only mobile users have access to. These may be sales or coupons.
- Encourage users to share content from within your app, which serves as word-of-mouth marketing in the digital era.
Utilize cross-channel technology to the utmost. Ensure that your website and app work well together. Send emails or text messages to app users. Craft landing pages for your app that encourage users to download immediately. Nate Smith from URX.com saw this coming years ago when he said “The relationships between the apps that a user has installed on their phone will become exponentially more important, both to the consumer and to the businesses themselves.”
Measuring App ROI
Of course, you can throw money at your app and ads blindly, or you can make the most of your app by putting in the proper legwork. In this case, it means measuring the money spent and the revenue gained and refining methods to increase your profits at a faster rate than you spend money on your app.
There are four main things that every brand should look for.
- The usage rates of an app.
- Crash rates of the app.
- Types of “transactions” or activities being performed in the app.
- If your app adds value to your business, i.e. If it’s performance.
Low usage rates and high crash rates, which may be directly related, mean your app may not add any value. This is especially true if the user winds up back on his PC because your app is so faulty. On the other hand, your app may work just fine, but users may be relying on it to do things that are not directly profitable if you don’t consider alternate sources of revenue such ad ads.
When determine ROI, you’ll also have to identify costs other than development or ads. These include the cost of implementation and customer service among other fees. App analytics will also give you insight into real-time usage. Perhaps your app is more popular at a specific time of day.
We also found slideshows which can give a good idea about app ROI. Please find below :
Calling in An App Marketing Agency
Some brands find that analysis and improving ROI is a bigger job than they expected, and so they hire promotion agencies to help with this big job.
Here are several such companies for you to consider.
AppN2o is one of the leaders in marketing and ROI analysis. You’ll get a comprehensive look at your app and areas of improvement.
Sosemo enables your company to optimize your app right out of the gate by making it visible in the app market and utilizing social media and advertisement to increase the buzz about your app.
App Optimisers is a London-based firm that has helped companies promote their apps via social media, blogs and even video-sharing sites.
Appromotor connects apps with journalists and bloggers when brands submit their app to a database. Find interested people to write about your app with ease.
Apps are already here, but their full power has yet to be unleashed. If you want to reap the benefits, it’s necessary to engage users, track ROI and improve your strategy without taking a break.