To continue our series on measuring your digital marketing ROI, we are going to look at how you can measure your mobile return on investment (ROI). With billions of smartphone users around the world, having a mobile app campaign in place for your business is crucial. Operating on mobile gives your business a far better outreach across the globe, as well as the potential to increase revenue substantially. When launching a mobile app campaign, it is important to find the right metrics to calculate your ROI, and gain insight on the needs of your app users. There are several metrics you can use individually or together to track your ROI. We are going to outline the key metrics and how they can help you in your campaign.
Perform an App Marketing Campaign
Directly engaging with your users is a great way to calculate mobile ROI. A properly developed mobile app is more likely to attract return users and encourage retention. Run an in-app and push messaging campaign with special offers and rewards programs to keep you users interested in your product. This has the added advantage of getting users to tell their friends about your app, which in turn also increases new users.
Add In-app Purchases that Add to User Experience
It is important to make in-app purchases useful, but not so useful that they alienate users who cannot afford or don’t want to pay for an extra service. Use data on purchases to calculate your natural conversion. You can further use this metric to calculate the lifetime value of your users.
Launch Ad Campaigns
Launch a variety of different ad campaigns, and track them to determine the ones that bring in the most revenue. Also, focus on learning that ones bring in the most new users. Using these two metrics can help you create a better ad campaign for your mobile app. The data gives you exceptional insight on usage and growth.
How Often Are Users Accessing Your App?
Tracking mobile app activity is crucial. Find out which features are being used the most by your users, and spend your ad revenue to improve those features and draw new users. The user base of a mobile app is a good indicator of how useful, and how well an app is doing on the market.
Track Chatter on Social Media
Positive responses are a good indicator of success. The more positive responses you hear on social media, the more likely new users will give your mobile app a try. Take the time to engage your user base. Listen to their suggestions, and use the information to make improvements. A high-quality app with a solid user base will significantly increase ROI.
At Cohlab, we fully understand the importance of knowing your digital marketing ROI. That is why we do take the time to ensure you understand both the tangible and intangible results of your digital marketing efforts. We “cohlaborate” with you on proving out your marketing ROI, and our strategy has been greatly successful for digital marketing clients. Use our complimentary Digital Marketing Scorecard to gain valuable insight on how your website rank compares to others. Our team would love to speak with you and answer any questions you may have. Our mission is to provide you with Cohlaborative digital marketing solutions to meet your organization’s needs.