Whether you’re mobile-first or app curious, join mobile marketing maestros from TUNE and retail giant Staples in this free VB Live event to find out the mobile marketing benchmarks you need to hit — and learn how to meet your goals, boost your app, and grow your business.
Mobile marketers are in charge of a lot these days, says Sheila Bhardwaj, director of account management at TUNE, but the biggest and most critical piece is finding and nurturing new customers.
And mobile matters because not only are app users worth 2x what loyalty club members are, but global revenue from mobile app stores is set to reach $52 billion this year. So getting it right is critical.
“In Q1 2016, mobile’s influence exceeded that of store and desktop combined,” adds Gwen Murray, mobile marketing lead at Staples. In fact, she says, “the impact of mobile as an ‘influencer’ was greater than mobile’s direct impact to the bottom line.”
So how do you make sure mobile matters?
“A lot of marketers want benchmarks,” Bhardwaj says. They’re essential because they not only help you gauge success internally, but let you compare your own performance with industry standards and leverage industry best practices, from app discovery and in-app conversions to long-term engagement.
And it goes far beyond just identifying your whales and embracing them with your entire marketing budget. In fact, whales are exceedingly rare, as infrequent as one in a thousand users. And while ten percent of them can contribute up to 50 percent of a game’s revenue, long-term value comes from uncovering the KPIs that reveal other valuable users, from long-time whales who help you rake in video advertising dollars with long session lengths to social whales who make your game or app go viral, to the retail whales who find your app inextricable from their shopping experiences, because of value-adds.
“You can get a lot of data about customers if they buy in the app with the app,” Bhardwaj adds. “Every payment is accompanied with customer data, and you start to provide better services, products, and marketing.”
But while the traditional metrics are essential to track and measure the right way, says Murray, stopping will just hamstring yourself — whether or not you’re a mobile-first company.
“These metrics are definitely important, but part of thinking more broadly about KPIs means thinking more broadly about how these metrics roll up into the overall marketing strategy for your company,” Murray explains.
She notes that cohort tracking is one of the more meaningful metrics that marketers can look at.
“When that’s available, it’s what audiences do over time,” she explains. “How did they perform against some of those traditional or key metrics? How do we layer in things like revenue per install, things like direct revenue, and then how do we bubble those up into broader-based KPIs which are going to help us find the strategic alignment.
Activation events are also particularly important for her marketing team at Staples. “One of them is when users log on with their rewards account — or if they’re not logged in, we can activate them to sign up for a rewards account,” Murray says. “That’s one of the ways we really provide benefits to our customers, as well being able to track them.”
But it’s not just about looking at the output of how customers perform, she continues. “Based on that performance,” she explains, “what are we doing to put valuable features into our app? Are we designing for customer delight? Are we taking consumer feedback into account, be it app store reviews, consumer research, industry trends, etc.”
For Staples that mean making rewards easier and the transaction process streamlined by reducing the checkout screen from 23 fields to 5 fields.
“The point there is basically that without strong products, you won’t have significant engagement or retention metrics to measure,” she adds.
For more on the KPIs to keep, from discovery to long-term relationships, the key differences between metrics and KPIs, and how Staples drives the influence of mobile, catch up on this executive VB Live event.
Don’t miss out!
In this VB Live event you’ll:
- Learn the most widely used mobile marketing KPIs
- Understand KPIs to target depending on your type of app, goals, and user lifecycle stage
- Know unique KPIs that can help demonstrate value even if not a mobile-first business
- Get action items for your new KPI data geared toward moving the needle for your business
- See how your app stacks up against key industry benchmarks
- Gwen Murray, Mobile Marketing Lead, Staples
- Sheila Bhardwaj, Director of Account Management, TUNE
- Wendy Schuchart, Analyst, VentureBeat
This VB Live event is sponsored by TUNE.