By A Correspondent
When it comes to mobile, apps are where it’s at. Mobile apps can bring ongoing value to businesses, especially when the right people download them. Almost 90 per cent of time spent on mobile is spent in apps and 58 per cent of mobile purchases in the US are made through apps.
However, not every person who installs an app will take actions within it that are valuable to businesses, such as making a purchase, booking a trip or reaching a certain level within a game. Thirty days after people install an app, only 6 per cent of them are still using it.
In other words, not all app installs are equal. As mobile app businesses evolve, it’s increasingly important for them to connect with the people who are likely to not just download their apps, but to take valuable actions within them. In its latest initiative, Facebook has announced a new way for advertisers to reach the people who will bring more value over time.
To build healthy mobile app businesses, advertisers must connect with the people who are likely to take valuable and repeated actions within their apps. To help businesses to reach these people, Facebook is launching a new product: App Event Optimisation. This helps businesses to maximise long-term app value.
“We’re extremely excited for Facebook’s new capabilities for app install advertising, which helps us optimise towards our true business goals. By reaching people on Facebook that are most likely to engage in our app, we have seen an 80 per cent decrease in cost per event, leading to five times the growth in lifetime value,” said Chris Chow, Head of Growth at PennyPop.
Because so many people engage with adverts across Facebook, Instagram and the Audience Network, the app is able to determine whether a person is likely to take actions based on historical data and people with similar characteristics. Through App Event Optimisation, advertisers can deliver adverts to the people who are likely to take valuable actions within their apps. This brings value to businesses, as well as to people, who get adverts for the apps that will be most useful to them.