As the app market continues to grow rapidly, it becomes increasingly challenging for businesses to attract and retain users. This calls for a well-crafted app marketing strategy that can help you get ahead of the competition. In this article, I will take you through 5 crucial steps to create an app marketing strategy that works in 2023.
What is Mobile App Marketing? Why is Planning a Strategy Crucial?
Mobile App Marketing refers to a set of actions taken to promote an app. Generally speaking, this term is broad and covers different strategies that are designed keeping your potential users in mind. The goal of mobile app marketing is to enhance engagement both inside and outside the app itself, by using a wide range of digital tactics to increase engagement with their apps.
When developing an app, mobile app marketing plays a crucial role in driving downloads, increasing user engagement, and generating revenue.Therefore, for reaching the intended results, an effective marketing strategy must involve rigorous planning, constant monitoring, and optimization.
Steps to Build a Successful App Marketing Strategy in 2023
- Setting Up KPIs for your App Marketing Strategy.
- Running Paid UA for a Successful App Marketing Strategy.
- Prevent fraud.
- Optimize your App Marketing Strategy by planning your budget.
- Low CPI with Ad Creatives Optimization.
Setting Up KPIs for Your App Marketing Strategy
Setting up KPIs is crucial to measuring the success of your app marketing strategy. To set up KPIs, you need to identify what metrics you want to track and how you will measure them. It's essential to set realistic KPIs that align with your app's overall goals. Your KPIs should be specific, measurable and achievable. Once you have set your KPIs, regularly monitor and analyze your data to optimize your app marketing strategy.
Here’s a list of the most important Key Performance Indicators for a mobile app marketing strategy:
- ROI (Return On Investment) is a key financial indicator that determines the long-term overall profitability of your mobile game. To improve your ROI, you should focus not only in gaining new users but also in keeping them engaged with your app, in order to increase revenues.
- CPI (Cost per install) is one of the main metrics that measure the cost that pp advertisers pay each time a user installs their app. CPI assesses how effective your campaign was at generating installs.
- LTV (LifeTime Value) is used to determine how valuable a user is in terms of revenue generated over the period of time they engage with an app.
- Retention Rate is used to measure the percentage of users who continue to engage with the app at Day 1, 7, 30 etc.
- ARPU (Average Revenue Per User) this metric measures the amount of revenue generated by a user over a given period of time. It is pretty similar to LTV, however if the latter measures the value of a user over their entire period of time he/she engages with the app, ARPU measures it over a set period of time.
Running a Paid UA for a Successful App Marketing Strategy
Running paid user acquisition campaigns for mobile apps is a crucial part of any successful app marketing strategy. It involves paying for ads on various platforms, such as social media, search engines, or mobile ad networks, to promote your app and drive installs.
Paid user acquisition helps to increase the visibility and reach of the app. By investing in advertising, app developers can get their app in front of more potential users, which can lead to more downloads and revenue. Paid user acquisition can also help to target specific demographics and interests, making it easier to reach the right audience. Additionally, it can help to increase app store rankings, as more downloads and positive reviews can improve the app's overall rating.
Even though it can be quite expensive, paide UA can be a game changer for your mobile app marketing strategy, since it allows you to maintain a high retention rate while obtaining new users.
Fraudulent activities can significantly affect your app marketing strategy performance and budget. Millions of dollars in marketing budgets are lost every year due to mobile ad fraud. Fraudulent methods, such as malicious bots or device farms, have a direct influence on marketing initiatives by wasting advertising funds on fictitious users who add no value. The long-term effects of such fraud tactics can have an impact on advertisers' decision-making, budget allocations, and audience targeting strategies for upcoming ads.
For this reason it is crucial for your app marketing strategy to prevent fraud, for example by working with reliable ad networks and using fraud prevention tools. Fraud prevention tools help you detect and prevent fraudulent activities in real-time. These tools use machine learning algorithms and data analytics to identify and block fraudulent traffic.
Optimize your App Marketing Strategy by Planning Your Budget
Mobile App Marketing can be pretty expensive, of course there is no single answer to the question How much does it cost to market an app, however, there are some strategies you can use to optimize your budget and maximize your ROI (Return On Investment).
Set a sufficient budget at first to be able to test and accumulate data for your mobile app ad campaign. Then you can optimize the campaigns and reallocate the budget to the best performing partners/channels. To optimize your budget, you need to:
- Assess your marketing funnel and understand what brings a potential user to become a high-quality one.
- Identify your most effective channels and campaigns and allocate your budget accordingly.
- Regularly monitor and analyze your data to identify areas for improvement.
Lower CPI with Ad Creatives Optimization for you App Marketing Strategy
As mentioned above, CPI (Cost Per Install) is one of the most important metrics in mobile app marketing. It is possible to lower your CPI by optimizing your ad creatives.
Ad creatives play a significant role in driving user acquisition and engagement. To optimize them you can create compelling visuals and messaging that resonate with your target audience. For example, Video Ad Formats are the most effective ones in catching potential users’ attention. You can work on realizing a gameplay video that includes eye catching visuals and colors that are visually appealing. You may also include in the video a call out message, such as “Harder than you think!” in mobile games, to challenge users and convince them to download the app.
Furthermore, in order to improve their app install campaigns, advertisers can evaluate the performance of multiple creatives by using creative A/B testing. This allows you to avoid wasting money on ad formats that don't generate conversions by allocating more budget to the best-performing ads. Additionally, it's essential to run several creative A/B tests throughout time in order to understand which formats appeal to customers more than others and why.
In a Nutshell
A mobile app marketing strategy is an effective way to reach potential users and to get ahead of the competition. To build a successful strategy is necessary to set clear KPIs, and effective marketing tactics. Regularly monitor and analyze your data to optimize your budget and ad campaigns. Use fraud prevention tools to prevent fraudulent activities and maximize your ROI. Furthermore, optimizing ad creatives can be crucial to lower your CPI. By following these steps, you can create an app marketing strategy that helps you get ahead of the game in 2023 and beyond.