Reviving A Struggling Mobile App
Many companies today have mobile apps that help make their operations and staying in touch with their customers easier. However, in some cases these apps may not be bringing in any revenue or worse, aren’t getting installed by your customers at all.
imonetize uses a 360 approach to launching and supporting mobile apps and has guided hundreds of companies through publishing, monetization, App Store optimization, user acquisition, and analytics.
How to get seen
One of the most important steps of reviving your struggling mobile app is to get more users interested in your apps through App Store Optimization (ASO). Getting your app’s visibility to improve on the browse channels and search page can be done by inserting more keywords and improving the creative elements of your storefront which will translate to more page visits and installations. To put it simply, taking better pictures and using more keywords is the magic wand you need to wave over your mobile app. If you already have an app that is doing okay but you want it to do better, it’s possible it already has a consolidated position on search rankings in more detailed searches but could still be improved in broader terms of relevance. If the addition of new keywords improves the amount of traffic to your page however there is no rise in your download rates, it could be a result of a drag from your creative assets. The next step would be to optimize your creative assets. One of the top ways to do this is by improving your icon because it’s the first thing users see about your app. it’ll also remind your existing users that your app still exists and there might be new updates they’d be interested in. It also helps to add screenshots of updates and feature graphics that highlight the strengths and uniqueness of your app using captivating imagery and calls to action that encourage people to interact with your brand. imonetize makes use of tons of data to determine what images or call to action would have the most impact on app users. Companies can also opt to do some research on their own and conduct a series of tests to determine what concepts work for users on different operating systems, or parts of the world which is why it’s important to segment your audience and have A/B tests groups in order to get the best results.
Your App Store Optimization should happen regularly and become an essential part of the activities you engage in. Every day, app markets change and you need to keep your app in line with the new changes that happen. Put aside some time each week to work on improving small aspects of your app like your metadata and creative assets as this will help your traffic grow organically.
Discover the perfect tools for your ad monetization
When you have accomplished your ASO and boosted traffic and installs on your app, there will be an organic increase in your revenue. You’ll also boost your app’s performance by using some trusted strategies for monetization. Using an ad mediator, you can begin to optimize your app’s revenue, imonetize has its ad mediation platform which is transparent, unbiased, and monetizes apps efficiently. A lot of mediations tend to prioritize other businesses’ Ads when they use their ad networks however using a transparent ad mediator will ensure there’s nothing to hide and more ad data is available. This is especially useful when making decisions that will benefit from being data-driven. Every company stands a better chance of making more revenue when the mediator prioritizes the right ads as opposed to simply using their own ads.
Optimizing your ad strategies will greatly increase your chances of boosting your app’s performance. A good way to test your new strategies is by implementing them on small groups, observing how it affects their retention and experiences. You can also improve your monetization strategies using data, targeting users who convert and make in-app purchases by showing them fewer ads, and for those who do not support your app just yet, you can target them with more ads. Remember that user experience should be your priority and monetization efforts should be minimal while completing the progression of each user through the app experience so you do not interrupt their natural use of the app. The money generated from ads can be put towards growing your team and further developing your business.
How to scale monetization loops
With the above efforts, you should see an organic increase in installations, revenue from ads and metrics you can use to generate more data which can be used to test out more strategies. You can also measure KPIs and make the most use of the app generated income. You may be monetizing your app through in-app purchases or ads, either way, you’re going to need a powerful tool for analytics to help you asses how well optimized your app is. You also need to allocate time for monitoring your KPIs like your Average Revenue Per Daily Active User, impressions per daily active user, time to first purchase based on country and ad format as well as your effective cost per 1,000 users. Spot your apps weak spots such as low retention or conversion rates and make them the focus areas for improvement. While working on optimizing your apps, ensure that you do not affect the user experience and retention by crowding your app with too many ads. We try to keep the ads at a minimum while maintaining high levels of monetization by using things like banner ads, native ads, non user initiatives ads and more. Paying attention to how your app users respond to your ads will also give you an idea of how to shape and develop your content roadmaps. No perfect formula works for all apps so it’s up to you to use your experience and figure out the best formula for your brand. A/B testing remains the best way to gauge how new builds affect your key performance indicators (KPI) without getting in the way of systems that work and are already in place. Using a strong analytics tool will also help assess whether your app is optimized in addition to monitoring your KPIs.
As soon as your app is fully optimized, converting and monetizing at a satisfactory level, another area to consider is paid User Acquisition. Using this on multiple channels can greatly improve traffic to your store pages. If you want to get your UA right, you’ll need to choose from the top ad networks, set a budget for each month that supports a lower cost per install than users lifetime value, define your intended audience and design ad creatives that convert. When all this is done, you’ll need to go back to the beginning and throw in additional ASO to help you reach a wider audience. This will also result in more data and revenue which you can use to develop and test new strategies such as using custom store pages to discover your dedicated users and tailor the content you create to appeal to them the most.
A failing app can be fully transformed with the right optimization and creative inputs. With a lot of hard work and a full 360 approach such as what imonetize utilizes, companies can expect to see up to 300% growth rate in installs, on both major app stores.