Not every business owners and managers are familiar with mobile marketing metrics. They often get confused and lost in the terminologies and technicalities. We will attempt to give straightforward explanations and offer insights on the roles and importance of mobile marketing metrics.
Mobile marketing goes beyond just listing your items in a fancy way with attractive price tags. If those ads don’t get seen by the target audience, then the aim of running a marketing camping would have been defeated.
Understanding Mobile Marketing Strategy
In our earlier posts, we discussed app store optimization and shared insights on how you can execute a productive and profitable mobile marketing strategy.
Highlights from those posts are that you must understand the stages of marketing your mobile app. These stages include:
1. The Pre-launch stage where you create awareness for your mobile app and devise means of making them visible to your target audience. We also shared some factors you must consider during the pre-laugh date, like avoiding major events that will overshadow your launch date, undertaking a market survey, creating target audience personas, and lots more;
2. The Acquisition stage where you are more interested in getting as many downloads as possible for your app, especially during the first week of launching.
We also explained how a high number of downloads help in ranking your app in app stores,
3. Lastly, we touched on the retention stage, which encapsulates taking proactive and creative decisions that will help you keep or retain your app users or converted leads. The article also suggested the use of user feedback, communication channels, push notifications, and tracking appropriate mobile marketing metrics to help you understand how to improve your mobile apps user experience.
What Are Mobile Marketing Metrics?
A practical definition of marketing metrics is that they are vital indicators that measure the performance of your app. They also analyze the impact of your marketing campaigns with statistical measurements that can help you make informed decisions on what areas you need to improve on to ramp up your Return on Investment (ROI).
Frequently used mobile marketing metrics includes but not limited to:
- Customer Acquisition Cost: this app metric helps to keep track of how much resources (time and cost) were spent on acquiring new mobile app users. It can be calculated by dividing total marketing investment by the number of new app users;
- Customer Retention: this marketing metric measures the number of mobile app users at any given time, and it can be measured periodically. The retention rate can be calculated annually or quarterly;
- Customer defection: customer defection app metrics measures the percentage of users that stopped using your app over some time,
- Cost per install — cpi: this app metric is popular among mobile app marketers. It is a reliable pricing model that measures user acquisitions.
The advertisers get paid for every install made through their ads. The rate for cost per install, CPI varies from country to country and is also affected by price changes.
As of 2019, the average cost per install for iOS devices was $2.37 in the United States and $0.98 in China.
The average global CPI for both Android and iOS was estimated to be $2.24 regardless of region and device or platform. Other essential profitability app metrics are % gross margin and % net margin, among others.
Customer Engagement and Retention
These are the driving factors or elements of ever successful mobile marketing. When you launch a new mobile app, you need to be device means of getting as many users as possible to download the app.
Downloading your app should not be all users do, you need to engage the users and motivate them to interact with the app continuously and perform (specific or desired) actions like purchases. User engagement can also be in the form of captivating and informative newsletters offering supports and ideas on how to get things done on the app quickly.
These may sound easy but can be a daunting task, especially if you are not familiar with marketing metrics and how they work. A specialist mobile app marketing company can help you get your mobile marketing set and ready to go.
Manage your marketing metrics with RankMyAPP!
If you are looking to gain more visibility and online presence through mobile marketing, then a reputable App Store Optimization company, such as RankMyAPP, is what you need! We will also help to manage your marketing metrics and keep tabs on your mobile app retention and engagement rate.