The Future of App Growth : Driving Conversions Beyond Install - Sales & Marketing Summit
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Transcript of The Future of App Growth : Driving Conversions Beyond Install - Sales & Marketing Summit
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The Future of App Growth:Driving Conversions Beyond InstallTejal Parekh, Head of App Ad Marketing, Facebook
>4M
App usage is on a riseMORE APPS INSTALLEDMORE TIME IN APPSVS.3727APPS(2016)APPS(2015)VS.4.52.8HOURS(2016)HOURS(2015)
*Mary Meeker Report 2016
App usage is also on the rise. On average people download 37 apps vs 27 last yearThey are spending 4.5 hrs in apps vs 2.8 last year
But app competition is getting intenseTOTAL iOS SUBMISSIONS
230K455K326KJulAugSep80,44611,492.3Last Week( +15% )Avg. per Day
If we look at iOS stats alone, the numbers are staggering. Almost 1/2 M apps submitted in Aug.
Only a fraction of developers benefitfrom the growth
51%4%
MAKE $500K/MONTH
Strategies for successful app marketing
So whats a good app marketer to do to succeed in this hyper competitive space
Many people focus on driving as many new users as possible but it doesn't matter how many new users you drive if people don't use your product.
Our goal is to share with what we think are the best practices and tools for growing your business with smarter analytics and growth techniques.
Organic AcquisitionPaid Acquisitions
There are two ways you can acquire users - organic and paid downloads.
Organic AcquisitionsPaid Acquisitions
There are two ways you can acquire users - organic and paid downloads.
#1: Think beyond the install
First tip that we want to share with you is to think retention and conversion not just acquisition. While acquisition is important, if the majority of users that you bring in aren't coming back to use your product or if your flows are too difficult to get through then you are wasting a lot of resources.
So it's okay to focus on acquisition as long as you are verifying that the users you are bringing in are actually sticking with your service.
LOW INTENT
HIGH INTENT
Downloaded appOpen appProductpageAdd-tocartPurchase
AND what is really great is that you get the same great results when you apply your advertising efforts to Instagram. Instagram is not just a brand play, we have DR objectives that are performing for our partners.
Understand your funnel
By integrating the Facebook SDK and sending Facebook the app events you care about, you can also measure the results you care most about. For example, you can get demographic breakdown views of your entire funnel, which will allow you to optimize your ads to reach the most valuable people for your business.
#2: Optimize for events that matter
77%App users are lost in the first week*Mobile engagement challenge* Source: Facebook internal data
We know that the average app loses 77% of it's customers in the first week which means the majority of people being acquired are lost within that week.
Acquire high-value users
Actions people take in your appLearnPeople based on real actionsTargetMeasurePerformance of your app ads
We recently introduced App Event Optimization which lets you target people likely to take a specific action in your app such as purchase. So the value here is that it goes beyond the install and optimizes for acquisition of people that will add value to your business.The way it works is that it measures the actions taken inside your app by sending an event via Facebook's SDK. This small piece of code allows you toUnderstand the people using your appReach the right people with adsMake insightful decisions based on your ads performance
#3: Captivate audience with creatives
First tip that we want to share with you is to think retention and conversion not just acquisition. While acquisition is important, if the majority of users that you bring in aren't coming back to use your product or if your flows are too difficult to get through then you are wasting a lot of resources.
So it's okay to focus on acquisition as long as you are verifying that the users you are bringing in are actually sticking with your service.
Video
CanvasCatalog
Carousel
Facebook offers multiple ad formats to help you best express your message to your target audience. Static images may be a good starting point but investing in more engaging creatives will be worth the effort!
Video
CanvasCatalog
Carousel
Canvas
Canvas ads let you create immersive and interactive experiences.
Catalog
#4: Reengagement, a powerful lever
When to re-engageAdded to Cart but Didn't PurchaseInstalled your app but haven't registeredHaven't filled out a profile
So when you are thinking about re-engaging your users. You should look to find key drop-off points and deliver targeted ads to improve your business performance
Some examples are when people have installed your app but haven't registered. This can be true for a lot of Enterprise or B2B apps. If your service works better with people signed in, then you'll want to encourage people to come back and do so.
For social apps, typically there is better performance when people have actually filled out their profiles because it allows other people to connect with them more easily.
Finally, in e-commerce products, when someone adds to cart but doesn't purchase.
You may want to send them a gentle reminder via ads
10%lift in overall sales4xreturn onad spend
#5: Experiment, analyze, iterate
Experiment with different creatives, formats and placementsMeasure performance of your campaignsIterate and optimize performance
Compare campaign performance
Understand reaction to adsOptimize to get the most ROI
Experiment heavily with campaigns
Example: A friend of mine recently developed his app and started promoting on FB. He ran some audience experiments and realized that by targeting one specific demographic his CPI dropped by more than 55%. In early stages of growth and acquisition, these efficiency gains can be huge for your success.All these insights help you make the right decisions as you develop strategies for your app. By leveraging the full capability of Facebook platform, you get to experiment and learn quickly so that you can reallocate your ad spend and get the most ROI.
Invest in analytics tools
Understand your app's audience
Measure what matters most
Track usage across regions, devices and platforms
#1: Think beyond the install#2: Optimize for events that matter#3: Captivate audience with creatives#4: Reengagement, a powerful lever#5: Experiment, analyze, iterateTips to maximize your app growth
Thank You!