There is no better strategy than looking back if the goal is planning ahead. Analysing the performance of your past marketing campaigns is crucial to improve your app marketing strategy and prepare your mobile business to grow.
ROI based app marketing is the process of measuring the Return of Investment you gained as a result of specific marketing initiatives to increase the effectiveness of your future campaigns, and therefore maximise your revenue.
But in order to make the best of this analysis, you have to make sure to focus your attention on relevant performance metrics. That means you have to select a few key parameters whose trend really enables you to understand what works, and what doesn’t, in your app marketing strategy.
App Marketing Analytics
Mobile app analytics are your most precious resource! They allow you to monitor the whole journey of your customers while they interact with your app. But not all the data are equally crucial.
While the focus in the past was on Cost-per-Install (CPI), that is the amount of money app publishers spend per each install of their app, these days another metric proved to be more important during the ROI app marketing analysis: the Cost-per-Action (CPA).
The Cost-per-Action is the cost to acquire a customer who takes a specific action within the app (an after-install conversion event) which is really relevant to increase the app revenue. This metric well exemplifies how the secret (not so secret anymore) for a mobile business growth is to observe the user behaviour, understand what are the conversions (user actions) that it’s important to promote and focus the efforts on maximise them, especially through segmentation and re-targeting.
In a nutshell, the best way to build a powerful ROI based app marketing strategy is to closely track your active users journey within your app. Installs are important, but what happens after them is way more important!
Want to learn more about relevant mobile app analytics? Check this article!