Five Experts Share 2020 Lessons About App Marketing
From time spent in mobile apps to revenues generated by in-app purchases and subscriptions, metrics for mobile apps broke the records in 2020. Downloads reached 130 billion as consumers flocked to apps to improve their physical, mental and financial well-being in self-isolation, and consumer spending across the two app stores grew to $112 billion by year end.To get more news about App Optimization, you can visit aso700.com official website.
Clearly, mobile apps have become an integral part of daily life, and consumers can't imagine doing without them. Attractive acquisition costs and robust conversion rates for purchases and subscriptions (both at 4%) combined last year to create a perfect storm of conditions for app marketers, according to the 2020 Mobile App Trends Report published by mobile app marketing and retargeting platform Liftoff. Alongside a detailed analysis of user engagement and retention metrics across a variety of app categories and regions for the period from September 2019 to August 2020, the report also surveyed app marketers about the impact on their bottom line. It discovered the majority (64%) recorded an increase in revenues. Moreover, nearly 35% increased their marketing budget in 2020 to capitalize on the opportunity.
However, Liftoff data indicates marketers will need to invest more than money to sustain current growth and engagement levels. Most markets are saturated, and many consumers are taking longer to convert, the report says. "Longer time-to-action rates suggest marketers have to do more to drive habitual usage and deliver value."
In 2021, a year that will undoubtedly see global events and a worldwide economic recession dampen app spend, marketers will struggle to win consumers' heart share and wallet share. Marketing in these challenging times means taking the lessons we learned in a year like no other to develop a new playbook. To provide inspiration and direction as you write the next chapter in marketing, I draw from recent episodes of my weekly podcast with five remarkable mobile marketers whose expertise has earned them the title Mobile Heroes. (Disclosure: Liftoff retains my services as an online talent and content consultant.)
#1 Amaze customers with coherent user journeys
Stuck at home during the coronavirus pandemic, consumers are not just scrolling and consuming more content than ever on their devices. They are also using the downtime to up their own visual content. Photo and video editing apps have gained some serious traction for touching up photos to look better or slimmer and updating content to make an impression on popular social networks.
#2 Educate consumers with contextual campaigns and cues
Strict lockdown measures catapulted consumer use of fintech apps to make payments. According to a study by the World Economic Forum, the average fintech transaction volume grew by as much as 50% in some countries. Consumer adoption of mobile banking and apps increased by as much as one-third. Globally, app market intelligence provider Apptopia observes fintech apps chalked up a 6% rise in Daily Active Users (DAU). But more users and more sessions don't mean easy money.
#3 Listen, act and innovate to drive customer connection
The pandemic may have limited people's chances to find romance in real life. But it unlocked new opportunities for mobile dating apps to be the go-to matchmakers for 2.6 billion people in self-isolation. "The dating game in COVID is all screen and no scene," John Gerzema, CEO of marketing and polling firm Harris Poll, said in an interview with Morning Brew. A December Morning Brew/Harris poll found that 40% are using dating apps more, and 44% have anxiety over lost time dating in real life. This combination of factors has turned a difficult year for in-person meetups into a stellar year for dating apps. The challenge will be to maintain the momentum.
#4 Unravel data to retain subscribers in a post-IDFA world
Costs to acquire app subscribers hover at the high end of the scale—which is why marketers must optimize the events that deliver high-intent users likely to stay for the long haul. Apple's decision to revoke its identifier for advertisers (IDFA) with the iOS 14 update makes a tough job an even bigger challenge. Or does it? Oliver Wang, a Senior Growth Manager at Elevate Labs, a company that offers a suite of brain-training tools to help users boost practical skills, disagrees.
#5 Get out of your comfort zone and leverage new channels
Depending on where you sit, TikTok is at the center of controversial debate or the epicenter of successful and viral campaigns. Either way, 2020 will go down as the year the video-sharing social networking service broke into mainstream media, and many companies dipped their toes in the water for the first time.
From time spent in mobile apps to revenues generated by in-app purchases and subscriptions, metrics for mobile apps broke the records in 2020. Downloads reached 130 billion as consumers flocked to apps to improve their physical, mental and financial well-being in self-isolation, and consumer spending across the two app stores grew to $112 billion by year end.To get more news about App Optimization, you can visit aso700.com official website.
Clearly, mobile apps have become an integral part of daily life, and consumers can't imagine doing without them. Attractive acquisition costs and robust conversion rates for purchases and subscriptions (both at 4%) combined last year to create a perfect storm of conditions for app marketers, according to the 2020 Mobile App Trends Report published by mobile app marketing and retargeting platform Liftoff. Alongside a detailed analysis of user engagement and retention metrics across a variety of app categories and regions for the period from September 2019 to August 2020, the report also surveyed app marketers about the impact on their bottom line. It discovered the majority (64%) recorded an increase in revenues. Moreover, nearly 35% increased their marketing budget in 2020 to capitalize on the opportunity.
However, Liftoff data indicates marketers will need to invest more than money to sustain current growth and engagement levels. Most markets are saturated, and many consumers are taking longer to convert, the report says. "Longer time-to-action rates suggest marketers have to do more to drive habitual usage and deliver value."
In 2021, a year that will undoubtedly see global events and a worldwide economic recession dampen app spend, marketers will struggle to win consumers' heart share and wallet share. Marketing in these challenging times means taking the lessons we learned in a year like no other to develop a new playbook. To provide inspiration and direction as you write the next chapter in marketing, I draw from recent episodes of my weekly podcast with five remarkable mobile marketers whose expertise has earned them the title Mobile Heroes. (Disclosure: Liftoff retains my services as an online talent and content consultant.)
#1 Amaze customers with coherent user journeys
Stuck at home during the coronavirus pandemic, consumers are not just scrolling and consuming more content than ever on their devices. They are also using the downtime to up their own visual content. Photo and video editing apps have gained some serious traction for touching up photos to look better or slimmer and updating content to make an impression on popular social networks.
#2 Educate consumers with contextual campaigns and cues
Strict lockdown measures catapulted consumer use of fintech apps to make payments. According to a study by the World Economic Forum, the average fintech transaction volume grew by as much as 50% in some countries. Consumer adoption of mobile banking and apps increased by as much as one-third. Globally, app market intelligence provider Apptopia observes fintech apps chalked up a 6% rise in Daily Active Users (DAU). But more users and more sessions don't mean easy money.
#3 Listen, act and innovate to drive customer connection
The pandemic may have limited people's chances to find romance in real life. But it unlocked new opportunities for mobile dating apps to be the go-to matchmakers for 2.6 billion people in self-isolation. "The dating game in COVID is all screen and no scene," John Gerzema, CEO of marketing and polling firm Harris Poll, said in an interview with Morning Brew. A December Morning Brew/Harris poll found that 40% are using dating apps more, and 44% have anxiety over lost time dating in real life. This combination of factors has turned a difficult year for in-person meetups into a stellar year for dating apps. The challenge will be to maintain the momentum.
#4 Unravel data to retain subscribers in a post-IDFA world
Costs to acquire app subscribers hover at the high end of the scale—which is why marketers must optimize the events that deliver high-intent users likely to stay for the long haul. Apple's decision to revoke its identifier for advertisers (IDFA) with the iOS 14 update makes a tough job an even bigger challenge. Or does it? Oliver Wang, a Senior Growth Manager at Elevate Labs, a company that offers a suite of brain-training tools to help users boost practical skills, disagrees.
#5 Get out of your comfort zone and leverage new channels
Depending on where you sit, TikTok is at the center of controversial debate or the epicenter of successful and viral campaigns. Either way, 2020 will go down as the year the video-sharing social networking service broke into mainstream media, and many companies dipped their toes in the water for the first time.