1. Think beyond your app.
So you want to acquire more users. What do you do next? If you’re like most, you set up campaigns on platforms such as Facebook and Twitter. During the setup process you are asked to define your audience. First, you choose your platform (iOS or Android), then the Operating System and connection type. Second, it becomes much more complex as you can choose Geo, Demographics, Interests, Behaviors, and Categories.
The challenge is that while the first few fields are relatively straight forward, the next few fields aren’t. Trying to connect with users based on data you probably don’t know about them is a very expensive and time consuming process. Because of this, many app developers will skip this all together, and rightfully so. The result is that they are forced to compete for user attention based on a few very common data points where most of the ads are from very savvy game developers who have driven up prices to extremely high rates.
But what if you did know more about your users? What if you didn’t have to compete with deep pocketed apps and only buy ads based on the most obvious data points? What if you knew that your most valuable users had certain brand preferences or political views for example that would provide not only quantity but also quality users at much cheaper rates?
Incorporating external data to learn more about your existing users is something that has existed in digital marketing for the past number of years, but now mParticle is bringing 3rd party data to mobile apps to enrich your first party data. The result is not only greater insight about your users but also the ability to reduce user acquisition costs and improve scalability.
2. Measure Lift.
Are you measuring Lift?
Lift is the equivalent of marginal utility. If I spend X, do the benefits of investing in certain activities outweigh the costs (both hard costs and opportunity cost)? In other words, if I use this data to target an audience, is it more effective than doing it a different way and if so, by how much and how much scale is available?
Just because you are targeting audiences, doesn’t mean you are capturing value. You need to think about setting up baseline tests based on the first few fields I discussed in point #1 and compare that to targeted campaigns. These targets should be informed by data you know about your users, not wild guesses.
3. First party data isn’t just about analytics
The way with which people interact with your app is what separates high valuable users from less valuable ones. The data that gets created as a result of users engaging with your app can be incredibly valuable. This data should be analyzed to understand user flow, how they move within a funnel and how they compare with other app users. But this data is valuable beyond analyzing user flow and cohorts; segmenting users based on common behaviors or device attributes and re-targeting them outside of your app in personalized and meaningful ways will enable you to achieve important business metrics such as engagement, retention, and monetization.
4. Engage your users holistically
According to numerous studies, the average user has over 75 apps on their phones but only regularly uses about 8 of them. This means that way more time is spent outside of your app than the time spent inside your app. As a result, you need to think about engaging these users across multiple channels. Push notifications are a great first step but, you have to think about engagement as a holistic approach that spans across various channels such as email, push, display, social etc.
5. Users are uninstalling your app
Why do you need to keep acquiring users? This is mainly derived from user experience, and typically it’s because certain users go dormant and a certain percentage are uninstalling your app. The top 2 reasons users uninstall an app are 1. Excessive battery drain 2. Excessive data consumption. Too many SDKs in the app streaming data out equate to both creating a significant tax to the consumer. Get control of your data and you will get better control of your user acquisition costs.
Find out how mParticle can help you better leverage your data to increase engagement and retention, while lowering user acquisition costs.