Monetizing your app for your business was never easier. Ultimately, one has to learn the way to take the app and convert it into dollars. Check out mobile app revenue globally. From 2016 to 2017, there was a 35% rise. Consumers should be willing to spend money through mobile apps.
To ensure the app is successful, it all boils down to understanding what drives your customers. The need of the hour is figuring out what customers want and how they require it. With the increased usage of smartphone and tablets besides other smart devices, mobile app marketing is a buzz word.
1 Work on Customer Loyalty
If customers can be motivated to keep coming back to the app, the chances of these people spending rise as well. A most effective way to keep the customers returning to your app is via effective customer loyalty programs. Close to 82.4% of customers shop at stores offering loyalty programs.
This holds true for smartphone shoppers through mobile apps, too. Loyalty programs particularly encourage repeated purchases. Further customer retention is cheaper than customer acquisition. Once customers complete a certain number of purchases, they can be rewarded with deals, discounts or giveaways.
Loyalty programs implemented effectively increase purchase frequency, but also average order amount in the app. An additional advantage of such loyalty programs via mobile apps is that every transaction record is stored within the mobile app itself.
Having a mobile app also raises the chances of customers joining your loyalty program by 59 percent. Another 82 percent of consumers indicate that the likelihood of shopping at stores that have loyalty programs.
Based on every bit of cash spent, a new threshold can be reached and benefits can improve. This encourages customers to spend more cash, so the next tier can be reached faster.
Implementing loyalty programs increases the order frequency besides the average order amount.
2 Understand How Customers Act
Whether it’s Android or iOS app development, a mobile app is easily crafted by skilled developers. Further, the benefits of a mobile app store against brick and mortar stores are incredible. In case customers walk into the physical store but leave without making a purchase, there’s no way of recording it. Mobile apps, on the other hand, let you see the browsing history, pages visited and products are shown even though the purchase is finally not made.
Mobile app development and your app marketing budget should allow advanced analytics. On the basis of valuable information, personalized ads or discounts can be sent in targeted ways.
The same strategy can be used for customers who make the purchase. These customers can achieve higher levels of success upselling or even cross-selling items associated with their last purchase. When customers are sent a personalized offer, the options for conversion are higher, as it fits into the buying behavior or aspirations.
Promotions are not effective unless they are specific. Mobile apps make it easier to track customer actions.
Personalized conversions show a marked increase from 2016 to 2017 alone. Experts estimate the number to be even higher in 2018.
3 Heed Customer Feedback
Customer reviews, testimonials and feedback shows you care about your clients. They also raise the chances of retaining clients.
Use interviews and surveys for accomplishing this. Customer feedback can be quicker or in-depth.
Check regarding recent purchases. Find out more regarding overall shopping experiences. Check if customers are satisfied with the shipping, delivery, and packaging solutions on offer.
Your company’s customer service representatives should be attuned to the customer’s inputs and insights.
A clear goal for gathering feedback is, therefore, essential. The goal is not just asking questions about customer satisfaction. The focus now is on customers co-creating the products.
Asking opinions regarding certain features. Voting on product features and specifications gets them involved.
One can also reward customers for authentic feedback that helps in product development.
For example, app users could be offered a discount on the price for offering genuine reviews that offer value for app builders.
The customers can spend more cash by simply by asking interacting with individuals. When the effort is made to ask customers for feedback, brands also convey that they care about what customers say. So customers actually end up staying longer with your brand.
4 Invest in Building a Powerful Brand
When you have a well-established brand, people spend more on your products.
To increase mobile app spending, have a solid presence on social media. Building social media followers and engagement increases legitimacy.
Branding also boosts ratings, downloads, and reviews for your app, creating a social proof of concept. Social influencers can go the distance when it comes to building a custom mobile app spend.
5 Leverage Push Notification
Push notifications are a really effective way to boost customer spending on the mobile app.
But using these notifications in the right way matters, or this strategy simply won’t work. Issuing push notifications too often can annoy users and turn them off.
From a discount, flash sale, or more it does work. Perfecting the push notification and mobile commerce strategies can yield your business good returns on investment.
Push notifications let you take advantage of location-oriented services as well as geofencing technology. It enables businesses to send customers timely and relevant notifications, based on physical locations.
Conclusion
We live in a wired world and businesses can now reach audiences worldwide. This means each business is now competing with the industry’s titans. The whole notion of mobile apps succeeding is to get customers to spend cash within it. The more money is spent, the better it is for app and app owners. Now monetize your business using the expertise of Sankalp’s mobile app development team. This Pune mobile app development company is exceptional, for flawless, intuitive and feature-rich apps that create value.