So now you have the easy answer to one of your questions: many of the people you see, hovering over and clicking away at their smartphones, are probably looking at ads.
Mobile advertising is a big business that is getting bigger by the day: Ad Age cites research shows mobile ad spending will surpass $40 billion in 2017 and $65 billion by 2020.
These staggering numbers lead to your second and trickier question: how do you measure the effectiveness of your mobile business app? You're not being cynical; you're being practical about mobile marketing in Las Vegas. You know users like apps because they tend to be simple and easy to navigate, especially compared to web browsing. And businesses like yours like apps because they can help you manage and guide the overall “user experience,” without worrying about people becoming distracted and clicking off the page.
Mobile measurement can be a challenge for business owners, but four methods should help make mobile marketing in Las Vegas a bit easier:
Measure the number of installs
Counting the number of daily installs is one basic but important metric; drilling down to discover their source is another. And this is where it can get tricky. If most installs are migrating from mobile ads, the cost per install (known as CPI) can become an expensive proposition. On the other hand, these users may be more valuable. To reduce your CPI, ensure your app is available in an app store – and then keep track of its ranking.
Let an independent source measure installs
You learned this lesson from traditional marketing: some mediums “pull” better than others. So do the advertising channels you've chosen for your app. These channels are probably only too happy to provide you with numbers. Accept them gratefully, but adopt the journalist's creed: trust but verify. Independent trackers such as Google Mobile App Analytics and Adjust.com are two good sources to help you nail down your user acquisition cost. And both sources allow you to segregate paying users from nonpaying users and track them separately.
Measure by virality
Now here's some easy math you can do without a hitch: if a current app user tells someone about your app and this someone downloads it, your CPI for the first user has just been cut in half. Hopefully, this domino effect continues, further reducing the CPI of your mobile marketing in Las Vegas. Track the sharing links to learn your app's virality factor.
Measure long-term value
Some marketers refer to this metric as “lifetime value,” which seems a bit confusing since you really cannot gauge the lifetime of anything until it's over. Instead, think in terms of long-term value, which essentially means the same thing (in a clearer way): the amount of revenue generated by users during the time they have been using your app. This number should clarify the return on your investment.
No one ever said measuring is easy, but it must be done to ensure you most from your marketing dollars. Many business owners entrust this important function to the marketing experts at ADTACK. Call us for a consultation and learn how we can provide you with the mobile measurements your business needs most. In the meantime, download our helpful guide, Jumpstart Your Inbound Marketing – and find even more easy answers to your marketing questions.