Apps don’t come cheap and it’s a competitive market, so marketers need to be asking some key questions before splashing out and making the investment, the regional director of app analytics company App Annie, Jaede Tan, says.
According to Tan, just focusing on app downloads is in many ways a backward approach, and marketers need to rethink their initial strategy from the outset.
"We see a lot of marketers just getting out there to drive sheer download volume, which is where the dollars are spent," he told CMO. "But you need to understand what the trickle-down effect is and how much it translates in terms of long-term value."
The first series of questions should be what kind of consumer behaviour are you seeking to drive through the app, what is the end goal and how does it translate into dollars or a cost saving.
“So many businesses make the mistake of launching an app for the sake of having one, without really thinking about those key questions,” Tan said.
In the past seven years, App Annie has been working with app developers to create proprietary data round mobile apps, including the number of downloads, the amount of revenue and usage patterns. The intention is to help teams leverage that data so that anyone interested in an app can integrate this into their business strategy, Tan explained.
"This can help add a better layer of experience from the retail to banking experience,” Tan said. “We’re finding more traditional bricks-and-mortar businesses are turning to us for solutions to better use apps to engage with consumers. And in our experience, the more time you get consumers to spend on an app, the more likely you can monetise through it.
"So we encourage integration between the product teams, the strategy teams and marketing to understand what the app is, what it means to the business and work backwards from there, looking at how to optimise the marketing spend to get the best ROI.”
Mobile app use is increasingly high globally and in Australia, app use is particularly high and advanced. This presents an exciting opportunity, and one local businesses have to take seriously, especially in the wake of Amazon's pending arrival, Tan continued.
"The average person spends about 2 hours a day looking at apps, and user engagement around the smartphone is only increasing," he said. "Australian users are some of the most advanced app users in the world – they are willing to do everything on apps, but are also very demanding. In fact, the Commbank app is the 9th highest ranked app with active users in October on iPhones. You don’t see that in many markets.
"Never before has there been an opportunity for brands to engage via a screen that is always on and can be personalised and targeted."
Your success as a senior marketing professional has much in common with your success as a leader. Both marketing, and leadership activities, depend on building trust, encouraging action, and reliably fulfilling promises that have been made.
Between further interest rate rises, inflation, empty shelves, extortionate lettuce prices, supply chain issues and the barely believable events in Eastern Europe, the past six months there’s been a cacophony of environmental factors.
Imposter syndrome. That feeling others will discover you are actually not as good as they expect, and at any point you will be exposed and ridiculed as a fraud. If you can relate to this, then you are not alone.
Invest and earn with Coinbloc .us. Guaranteed Weekly ROI, early signals, fast withdrawals among others. I recommend Coinbloc .us as on...
Hans Jensen
Explainer: What marketers need to know about cryptocurrency
Investment decisions are a big deal, so why not get some guidance? You can day-trade cryptos, BUY and HOLD and evaluate the assets with f...
Dave Sigurd
Gartner: Digital isn't enough of a superpower for CMOs anymore
I normally don’t feel comfortable investing online but because the company I worked for downsized due to the pandemic and I was one of th...
Dave Sigurd
CMO's top 8 martech stories for the week - 9 June 2022
Investment decisions are a big deal, so why not get some guidance? You can day-trade cryptos, BUY and HOLD and evaluate the assets with f...
Dave Sigurd
Creating a marketplace for wellness
A solution for an retail industry data extraction. https://e-scraper.com/usefu...
"e-Scraper" Data Extracting
Catchoftheday launches fee-based online shopping club