Mobile devices with active internet package are a new trend today. Rather than saying a mobile device, smart phone will be the right word to use. Every seven out of ten individuals now own a smart phone just because of ease to access internet packs. People are rapidly being dependent on smart phone usage. Developers compete within themselves for designing the best, innovative and user-friendly apps for smart phones or tablets. However, designing an app is just half of the part. The second half is its marketing and success. For many organizations, achieving maximum conversion rate for their designed mobile application is extremely important.
What Is Meant By Conversion Rate?
Conversion rate has a simple formula to calculate. It involves dividing the total actual users by total users that meet your expected goal. This can be illustrated as follows:
For example, your app is discovered by 1000 users out of whom 10 users perform exactly the way you want. May be these 10 users purchase your upgraded functions or contact you to fetch further information. This proves that you have 1% conversion rate. Conversion rate of your app can assist you to evaluate how much revenue you can generate with it.
Illustration of goals to evaluate conversion rate:
- Lead Generation
- In-App Purchase
- Buying Virtual Goods
- Migrating from Free Version to Paid Version
- Making contact with the Organization
- App Registering
What Is The Importance Of Conversion Rate Optimization Or CRO?
Attain goals easily
Conversion Rate Optimization can give improvised judgment as to how well the app will perform. CRO is extremely significant and should be prioritized while designing, developing or marketing your mobile app. CRO is one of the means for app developing companies to achieve their goals. Without CRO, attaining goals is impossible. If CRO is not evaluated, it may lead to sales lower than expected, lesser sign ups or registrations and less interaction with the target public.
Report every crucial factor
CRO doesn’t count whether you are a boss or an employee. It doesn’t matter whether you are a manager or an owner, CRO is a crucial factor and you must report to your senior all that takes to improve conversion rate of your mobile app.
Generate more value
No matter if you have numerous users who have made in-app purchases of your app and they look forward to do the same in future. Steps to make user experience better and exclusive can be taken anytime and anywhere. Hence, CRO helps in taking these beneficial steps to generate more value of your app.
Reduce advertising cost
As more competitors rise in the market, advertising cost for you increases. Focusing on a long term goal, investing your efforts in CRO will prove to be extremely fruitful for you in the near future. Instead of splurging money on advertising for app that has been already optimized, prefer CRO.
Reach the target audience
While evaluating CRO, your focus must not be to just convert anybody. Above this, your main focus should be to reach your target market. Your aim should be to make your app reach in hands of your demographic target. This will further help you as they will suggest their peers to download your app.
Reduced customer acquisition cost
Inexpensive means are the best to opt for when it comes to make profit in any business. Hence, CRO is one such inexpensive pathway to attain organizational goals. With the use of CRO, customer acquisition costs reduce dramatically. At every doubling of your conversion rate, you get a chance to save 50% of the cost you are required to spend on searching and grabbing new customers from market.
How to double conversion rate rapidly and in less time?
Make your app the best you can by finding an outstanding developer or highly co-operative programming team. It is needless saying that attractive graphics are also to be incorporated with stunning icons that will represent your app in app stores or banner ads for online reviews.
Different versions of app icon should be created for A/B testing just to see which icon is highly preferred by customers. Following these practices before releasing your app in the market will also significantly raise your conversion rate.
Calls to action
There are numerous calls to action that can push up your conversion rate rapidly. For instance, if your mobile game user shares his or her score over social networking websites then this is a call to action for you. This is something that will engage the user for longer time and encourage them to spread it among their friends who may tend to be your customers somewhere in future. You can also execute interstitial advertisement which user may have to click before unlocking the next stage in the game. Set minimum goals in your mobile game that user may accomplish in order to advance towards the next level.
Many professional companies can render you better CRO services as per your company requirements. A little research is to be made before hiring any of the services in order to get the best in today’s competition.