Mobile applications feel like they’ve been with us our whole lives, providing pure convenience to the way in which we communicate, eat, bank, shop, and ultimately live.
Many of the answers to life’s pressing questions can be answered with – ‘there’s an app for that’ with Apple even running a commercial with the very same slogan.
In this article you will learn:
- The scale and usage of mobile apps in today’s world
- How applications can retain users
- What is Mobile Application Retargeting and why is it important?
- Why you should invest in Mobile Application Retargeting
Table of Contents:
- Acquisition or Retention of App Users – What’s the Marketing Link?
- Why Should I Invest in Mobile Application Retargeting?
- RTB House and Marisa – An In-App Success Story
- Let’s discuss what we can do for you and your app
With opportunity knocking, businesses can generate revenue from downloads, In-app purchases, and advertising and it’s predicted that by 2023 the overall app industry is set to reach staggering heights to the tune of $526 billion.
The 2007 release of the iPhone and App store that launched with over 500 applications saw the start of the revolution with the word ‘App’ claiming the 2010 title of word of the year. Fast forward to 2022 and there are an estimated, incredible 8.93 million apps globally (RiskIQ | Digital Risk | Cyber Threat Intelligence | Incident Response).
The relative ease of implementing a native application—twinned with the statistics that, at the end of 2021, 67.3 percent of total e-commerce sales are expected to have come from mobile (app and web) are leaving little doubt in the minds of businesses that applications are part and parcel of life today. But what about the sheer amount of competition out there and battle for customer retention?
Good to know: What is Retargeting and How Does it Work?
Acquisition or Retention of App Users – What’s the Marketing Link?
Whilst it’s tempting to get wrapped up in the hype of applications and seemingly obvious benefits that they bring to businesses on a global scale, marketers need to ask themselves where their most pressing priorities lie – is it more important to drive up the numbers of those downloading the app or to retain those that have already engaged through mobile retargeting?
The answer to this question lies in the statistics of mobile app advertising that shows over 25% of users actually abandon applications after one use. With the average user having a large variety of applications installed on their mobile device, it’s fair to assume that competition to really engage and keep users has reached unprecedented levels.
With this in mind, marketers are focusing their efforts on In-app advertising which essentially looks at retargeting users that have already installed and used the app already but are at risk of losing interest.
Along with attracting new customers, retaining them through mobile app ads and preventing them from disengaging completely are important elements when looking at how your app is performing – but how does it work?
Let’s say that John Doe has previously expressed an interest in a new pair of shoes by using an application, but for one reason or another, he hasn’t continued with his purchase which can be seen over a number of weeks via mobile analytics data. Using Deep Learning and personalization, marketers can retarget him with mobile app ads to encourage John to return and complete his purchase.
Why Should I Invest in Mobile Application Retargeting?
Analytics platform AppsFlyer states that 1 in 5 apps now use solutions such as retargeting campaigns with a view that mobile app ads can really make a difference when it comes to customer retention, sales, and conversions – After all, why risk losing customers you’ve already paid to acquire?
If you’re looking to utilize the powers of In-app retargeting let’s take a look at why you should invest in what can seriously set you apart from the competition.
- Boost your conversions and sales – Working with a marketing technology partner that truly understands your industry and that can implement In-app retargeting with state-of-the-art personalization can significantly improve your ROAS.
- Increased engagement through personalization – Increasing the number of times people visit the app creates a domino effect of benefits that include increased down-funnel conversions and also shines a light on KPI’s and how In-app advertising is working for you.
- Availability of segmentation data – Knowing your audience through deep analytics means that you’ll be able to focus on the right customers at the right time. Having information that tells you who your frequent visitors are and those most likely to churn is invaluable compared to just collecting numbers.
RTB House and Marisa – An In-App Success Story
Marisa, the largest women’s fashion and lingerie chain in Brazil, challenged RTB House to increase revenue from their app, through a retargeting campaign, with the need to boost traffic and retain more users for which media solutions based on advanced technology were a must.
Marisa, already aware of the Deep Learning algorithms, and most advanced branch of Artificial Intelligence used by RTB House for online retargeting wanted to bring this technology and personalization to their app to scale their ROI whilst keeping budgets and KPI’s in close proximity.
The results yielded from this In-app retargeting campaign were impressive to say the least and included:
- +1M in revenue in the first month with mobile In-app retargeting
- Billing via app 4x higher than on the web version (within 2 months of campaign completion)
- 105% of ROI target
- 142% of the average CTR for the Fashion sector in the current month, based on internal data from RTB House
Let’s discuss what we can do for you and your app
The effectiveness of our In-app retargeting campaigns reaches far and wide, delivering to the biggest clients across the globe. If you’d like to know more about retention rates and increasing your sales and conversions, whilst optimizing usage and getting the most from your application using the newest technologies, we’d love to hear more about your business.
Reach out and let RTB House show you the power of Deep Learning-based In-app retargeting.