Today we have a riddle for you: What mobile marketing method provides the following effects?
- It reduces cost per impressions;
- It offers better conversion rates;
- Marketers can observe an improved Return On Investment;
- It is focused on precise targeting;
- It provides cost-effective branding.
That’s right! We were thinking about mobile retargeting campaigns and some of those reasons for using this technique were mentioned also by Kissmetrics. We discussed this strategy before and as you can recall we said that retargeting is when you engage your customers or you convince them to make in-app purchases based on an advertising ID or on a mobile device ID.
Best Practices To Measure Mobile Retargeting
Now, we just created a guideline for retargeting measurement and we want to share it with you. Enjoy!
Decide Your KPIs
First of all, you need to make a plan and to set a goal for your retargeting campaign. According to the result, you want to achieve, you have several options:
KPIs For Installs
Whenever you want to target people who proved their interest in your products but for some reason they didn’t install your app, pay attention to the following points:
- Cost Per Install (CPI) – with so many options available nowadays you need to find a solution which will cost you less for each user acquired;
- Retention Rate – you don’t want just new users, you also need them to open the app after that;
- Lifetime Value (LTV) – it is also important to calculate the value of each user acquired.
KPIs For Engagement
When you feel that some customers, who installed the app, already forgot about it, then you need to remind them about its utility. This time keep your eyes on the following metrics:
- Number Of App Sessions – their experience inside the app;
- Retention Rate – how willing they are to go back to your app;
- Daily Active Users (DAU) – the number of active users you gather every day;
- K – Factor (Average number of users each active user introduces to your app) – the ideal situation is when K is equal or higher than 1.
KPIs For In-App Purchases
If you already managed to obtain all the above and you just need to convince users to spend money on your app, here is what you need to measure:
- Revenue – the total sum obtained from the purchases made by customers;
- Average Revenue Per User (ARPU) – the average amount brought by a user;
- Conversion Rate – what chances do you have to transform users into loyal customers
Measure Lead Conversion Rates
In order to obtain the most accurate data, you need to measure the percentage of users who proved their interest in your app and eventually became customers. This way you will understand the improvements you need to make to your strategy for increasing those numbers.
Pay Attention To Nurture Touches
The previous point brings us to this stage where we need to calculate how many touches are needed before users convert. You need to take care of customers’ journey inside your app and to serve them relevant ads while they continue to use your creation.
Measure Marketing Qualified Leads
Marketing qualified leads are those users which prove high potential to become buyers. First of all you need to identify them and after that you need to discover more about them. This way you will understand if it is worth investing your resources in this area.
Understand And Measure LTV
Even though users’ lifetime value is essential when you build a retargeting campaign, few app owners know how to attract loyal users. In case you are not one of them we strongly recommend you to check our article on how to maximize LTV in order to obtain the wanted results.
Use Different Metrics Together
We always say that measuring your strategy shouldn’t be a boring process. Think about it more like a mobile game where you increase your power after studying the information obtained from your analytics. Play a little with it because that data is the most valuable weapon for fighting against your competitors.
Do A/B Testing
How can you tell for sure what works and what doesn’t? Of course, you can! A/B testing is the procedure that reveals the best solution between two options. Use it for making sure that you make the best choice for your app.
Channels For Retargeting Measurement
There are various options which can help you to complete the stages listed above. We will mention the most popular ones.
AdRoll
AdRoll is an advertising platform focused on retargeting. It allows marketers to track the performances of their campaigns in an intuitive way using its friendly dashboard. It offers various solutions depending on your business. For the premium version a minimum ad spend is required but if you want to try it and to see if it works for you then you can choose Pay As You Go option.
Google isn’t only a tool that helps you to serve retargeting ads, it is also a great instrument for measuring your results. The in-depth documentation can transform any beginner into an expert in marketing or better saying in remarketing. You just need an AdWords account and if you are decided to go with Google Display Network then go for it. As you can realize it doesn’t offer options for Facebook campaigns.
Rubicon Project
Rubicon Project acquired Chango, a trustful retargeting company in 2015. In the mobile sector, Rubicon Project promises to make users coming back to your product because of the integration with “the best in the business of targeting, viewability, and measurement”.
Final Thoughts
Here it is! Our complete guide specially created for helping you measure the effects of the mobile retargeting campaign. After paying attention to those metrics it is mandatory to obtain the same effects enumerated at the beginning of this article. Choose your own goal and show your users why they were interested in your brand in first place.