The more applications available means the competition to be outstanding on the market is more and more challenging. Companies have poured millions of dollars into the process of mobile application development and marketing with the hope of making the best out of this promising technology innovation.
However, there are still some common misconceptions that are widely accepted by many developers and marketers. Thus, it hugely limit the ability of them in turning their app into business success. In this article, Mobile App Development Singapore will point out 3 misconceptions and how we can gain valuable growth through solving these problems.
The cheaper the better
It is a common case that a mobile application development company always try to lower their cost-per-install rate, which sees them focus on achieving cheap users and regularly overlook the importance of quality users to their revenue. One thing that you should always take in mind is that it is easy to get cheap users but to make them spend their money on your app is a whole different thing.
Do you know the 80/20 rule? It can be perfectly applied into this situation. According to researches, the top users of an application, which only account for 1% turn out to provide an impressive 90% of the revenue. This fact gives mobile app developers and marketer a vital mission: How to increase the number of high-spending users?
The key point here is to understand the needs of users when they use your app. Any individual will look for a solution to their demands when they user a specific product. Understanding your users will help you to develop and market your mobile app in a way that best satisfy them. As a result, they will be more loyal to your app and ultimately find the need to spend money to improve their using experience, which they found worthy.
For example, if you are developing a game application, you should know which part of the game your users will tend to spend. An impatient gamer would spend money on boost packages to reduce the building time in a construction game, for instance. Or if your app is full of interesting stuff, motivate your users to improve the download amount and speed by investigating some money into the app.
More users means more revenue
Yes, it is obviously important to gain new users to your application. However, according to the preceded part, loyal users who maintain regular engagement are those who give you the money. Unfortunately, generating user engagement is usually not well focused, which results in a lot of potential revenue being wasted.
You may be able to attract people to use the app but have you ever taken a look at how many of them remain using after some initial interest? Statistics show a shocking 20 percent of users leave an app only after the first use and they surely provide no benefit to your pocket.
Therefore, instead of following the tired race for user acquisition, pay more attention to your current users, whose lifetime value is a real treasure for you. In addition, getting users back to your app is also a wise decision. User regeneration is much more cost-efficient than trying to look for new users and is something you should do for the long-term growth of your app.
There are many way to conduct website retargeting, including the use of mobile app engagement ads, push notifications and email. Furthermore, communication with your users is also a good way to increase their loyalty. You should have some special offers for long-term users or some promotion to motivate a former user to re-engage.
Mobile analytics software is not needed
Mobile analytics software is a useful tool which gives you valuable data on how your app is performing and the flow of users. Nevertheless, its importance is usually underestimate in the process of mobile application development, especially from app marketers.
One of the strongest and most beneficial feature of analytics software is its ability to track your users’ ID, which results in worthy information to be used for marketing purposes. From the ID tracking, marketers are given an insight of their users including demographic, geographic and psychographic characteristics. From these data, it is possible to focus on the group of potential customers who are categorized based on the same characteristics. Another use of ID tracking is to retarget users for further actions.
Some practices in the past showed the huge benefit of data-driven targeting. With this method, the number of in-app subscriptions of a news app has grown by over 30 percent while a messaging one received a double-digit lifts of key engagement events.
Therefore, it is sensible to state that analytics is not only for technical people but marketers should develop full understanding of this tool as part of the mobile app development success. It should be considered at the first choice in in growing and monetizing an app in a targeted way.
Regardless of what application you are developing and marketing, a high revenue is always the result a mobile application development company try to provide their clients. In addition to the various methods that can be applied to improve the app quality and its spreading ability to customers, solving these misconceptions is also an important task for developers and marketer to take in mind. We hope that you will find this article beneficial and can develop your own solutions. If there is any need for high quality app development services, Mobile App Development Company in Singapore is proud to be you partner. Just give us a call and we will be pleased to provide a non-obligatory consultation.