Why Mobile App Retention Matters?
Download as PPTX, PDF2 likes1,226 views
The document emphasizes the critical importance of mobile app retention, noting that a significant percentage of users are lost within three months. It outlines strategies for improving retention, such as enhancing user experience, analyzing user behavior, utilizing analytics tools, and engaging users through notifications and social media. The document highlights that improving retention leads to increased revenue and reduced customer acquisition costs.
Why Mobile App Retention Matters?
- 1. Mobile App Retention – Why You Should Never Neglect It.
- 2. 70 Billion app downloads in 2013
- 3. On avg. over 10 apps downloaded per human on earth
- 4. ~1.8 Million total apps on the 4 major app stores
- 5. The era of the get rich quick apps have long gone by.
- 6. In case of most apps, within a period of 3 months, over ¾th of their customer base is long gone
- 7. Take cues from a web marketer who focuses on his customer funnels.
- 8. •Build Virality into the Product. •Re-target your existing users. •Target potential users effectively on various platforms.
- 9. But remember, the avg. CAC increasing is >$1 and
- 10. So, before you spend on acquiring users estimate your Avg. Revenue Per User ( ARPU) ARPU > CAC
- 11. For profits to increase, work on your Active and ARPU Users
- 12. A small increase in your User retention number drastically increases your revenue. Installs *Retention =Active Users *ARPU =Revenue As is 100,000 15% 15000 $2 30,000 With 5% Increase in Retention 100,000 20% 20,000 $2.1 42,000
- 13. Not just that…. Higher retention and user satisfaction drastically reduces the CAC as Word-of-mouth increases.
- 14. How do I improve User Retention?
- 15. Create a world-class app and give your user a unique experience. There is no substitute to this.
- 16. Measure extensively all user activity. Try and identify pages which have a high drop-off and do split testing to weed out the reasons for the same. Use free tools such as Flurry for analytics.
- 17. Enable in-app feedback system: 1. Avoids negative ratings on the app store. 2. Get early info on bugs and issues the user faces. 3. Get suggestions and ideas for new functionalities. Use the app user for your research and survey actively to further improve the app. Ensure, you reply promptly and make the
- 18. Roll out app-updates constantly. 1. Continuous improvement of app is always appreciated by users. 2. Enables you to reach out to a dormant user on the device through notification
- 19. Segment users based on in-app behavior and offer unique customized experiences or offers.
- 20. Extensively use in-app messaging & push notifications. Studies from Airpush have shown that push notifications increases engagement 4x times and increases retention 2x times.
- 21. Engage on social media and build a following. Leverage impressions on various platforms to create better mindshare.
- 23. It’s ok to say that App Entrepreneurs have a retention problem rather than a discovery problem.
- 24. Thank You Email me: amarnath.vannarath@gmail.com Follow me: @freaks007