Op-Ed: Customer Acquisition and Maximizing ROI

The following is a guest contributed post by Kate Palmer, User Acquisition Manager at Lucktastic.

Recently, I spoke at North America’s largest mobile-only conference, Mobile Growth Summit, on a panel discussing top user acquisition strategies. The four-person panel was a diverse group of thought leaders representing both sides of user acquisition—three of us executives from three distinctive apps and one an executive from an ad network. What differentiated my company’s app from the others’ is that it is a true ad-revenue model, which means it is 100% free to download and play; our aim is to make back our cost per user within the first seven days without any in-app purchases, paid upgrades, or subscriptions. While my app’s model also differentiates our overall strategy slightly, what was clear is that we all approach user acquisition with the same basic objectives: to monitor and optimize towards retention, lifetime value, and average revenue per user while maintaining an efficient cost per user.

Our panel of experts also discussed other key techniques for acquiring customers while maximizing ROI that will help you be more successful:

Ferociously Test and Test Again

  • The best way to grow your user file efficiently is to test continuously. There are literally thousands of channels to choose from today and in many different forms. Ad networks, paid social, search, native, DSP, offer walls, the list goes on. Partners and publishers come and go, good sources are here today, gone tomorrow. By testing regularly, you can continually improve your overall volume and quality. Diversifying your file also ensures that you never become too reliant on one source, which helps to stabilize day-to-day performance.

Small Creative Changes Can Make a Big Impact on Conversions

  • We are always testing new creative to determine and improve the messaging and visuals that speak best to our target audience. For example, there can be a big difference between “Download Now to Win” and “Install Now to Win,” and an even bigger difference between either of those and “Last Chance to Win.” There can also be a big difference between a picture of man versus a picture of a woman, or a blue background versus a green background. These changes are easy levers to pull, but without making them you’ll never know what speaks best to your future super-user. Small changes can make a big impact on conversion rates and overall costs.

Move Conversion Event Further Down the Funnel

  • Moving your conversion event further down the funnel will help you in two ways: First, it helps cut back on the number of fraudulent installs that slip into your file. We all know that fraud is a growing problem in adtech, one that is hard to prevent as the bots become more and more intelligent. While it won’t prevent fraud entirely, moving from buying an install to buying a registration, tutorial complete, or revenue-generating event will cut down on the amount you spend on fake users (and the time you will spend finding them and asking for credits). Second, moving further down the funnel ensures you are spending your hard earned acquisition budget on only the most qualified users, those who are invested in your product and are generating revenue.

Whatever your app or revenue model, I and other UA experts agree that these proven strategies of user acquisition will optimize your paid mobile performance in the ever-changing landscape.

The post Op-Ed: Customer Acquisition and Maximizing ROI appeared first on Mobile Marketing Watch.

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