How Every Business Can Boost Their ROI With A Mobile Application

As we have discovered over the last few weeks, businesses of all types and sizes can benefit from the creation, deployment and marketing of their mobile application. From increased customer retention through the implementation of app specific loyalty programs to boosting revenue via mobile commerce, a mobile application creates many opportunities for a business in both quantitative and qualitative aspects. With that being said, the focus of today’s blog is to highlight how any business can increase their return on investment (ROI) through engagement with the mobile app user once the download stage has been completed.

Mobile apps are increasing in popularity across the globe as user preferences change and mobile devices are fast becoming the primary device for many people to access and consume information. It is widely accepted that mobile applications offer a richer user experience due to the level of complexity and types of functionality offered in modern day applications. However, a business can not solely rely on cutting edge features to boost their return with a mobile application, it takes a methodical and sustained analysis of the user post the app download phase to maximise the ROI.

The average smartphone user has on average over 40 mobile applications installed, resulting in the competition to seize the attention of smartphone users very intense and a crucial factor in the level of success a mobile app generates. As highlighted above, constant evaluation and analysis of the mobile app, its features, usage and engagement are pivotal factors in many businesses seeing a significant return on their investment.

The first stage in assessing the level of impact a mobile application has had on users or customers is analysing the data generated by the mobile application. For example, delving into the analytics and statistics for a mobile application a business can identify how many downloads have been achieved, how long on average users stay within the app, which features or tabs are most commonly being used as well as the monetary value of mobile commerce being generated via the app. These are all great indicators for assessing the impact of the mobile app as well as understanding the response by the target audience.

Using the in-app behavioural analytics, any business can improve their mobile application by making changes that will result in more user engagement. For example, if a business analyses the data and identifies that a particular loyalty program is not generating sufficient engagement they can look to change the type of offer or change the nature of the loyalty program from a stamp based to a GPS coupon based reward. The key to successfully and consistently boosting ROI with a mobile application is through incremental changes based on user behaviour.

A one size fits all approach to mobile applications is something that should rarely be actioned by businesses. Segmenting users based on their platform, device and location are great ways to reach out to groups of customers and tailor content to their needs. For example, if a business can recognise that a particular platform is achieving more app downloads, they can re-think their strategy to offer content that is more relevant to the platform or types of users commonly associated with that platform. Furthermore, a business can look to put remedial steps in place to boost the level of downloads for a platform that is performing less well.

A mobile app affords many businesses with the opportunity to market to their customers in unique and highly engaging or personal ways. For instance, the utilisation of push messages results in over 98% read rates amongst app users, whereas in-app messaging helps to cement two way communications between users and the business. As mentioned above, it is critically important that businesses understand their audience to ensure that any marketing message sent out to customers is interpreted and acted upon in a positive way.

In an age where social media is the norm, many businesses can benefit from social sharing and referral programs that reward customers for being brand advocates and encouraging extra interaction between users. For example, businesses can use loyalty programs as a medium for fostering interaction and boosting interest in their mobile app. As a business creates more social buzz around their mobile app it provides more opportunities to solidify the customer relationship.

During this blog we have seen how any business, regardless of size, can increase their return on investment (ROI) through engagement with the app user once the download stage has been completed. There are many strategies, indicators and methods that a business can utilise to see a significant return on investment for the mobile app.

To find out how Eazi-Apps can help your business create, deploy and market a mobile app contact us today.