22 Sep 2020 Increasing Customer’s LTV in Mobile: How Should App Marketers Do It?
It is necessary to have good interaction with users. LTV is also of vital importance for mobile application marketing. As App Samurai, we will give you tips to increase the LTV of your users.
What is LTV? How Can We Calculate It?
LTV is an approximate estimate of how much the user will spend on the app. Providing a valid forecast can help set mobile marketing budgets and aim to capture the most influential users. If a user’s lifetime value can be determined correctly, marketers can best optimize their ad spend. Optimization has a significant effect, especially in mobile app marketing.
So how is LTV calculated? It is calculated by finding a user’s average subscription and average spend over a given period. It can also be calculated as LTV = ARPU x 1 / Churn.
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With the LTV account, you can approximate how valuable a user will be during the time they spend on your app.
Remember that in mobile marketing, you treat LTV as a marketing metric. Calculating your app’s LTV in the best way is essential for increasing the lifetime value and improving the app.
Steps For Increasing Customer LTV
1. Push Notifications
In the mobile app market, especially in the mobile app part, when push notifications are applied, it has critical retention and re-interaction. You should send push notifications to your users by customizing them. Users do not want to receive messages that are not related to them. Focus on sending the right message to the relevant user. So pay due attention to Push notifications to contact your users to increase their LTV.
2. Reward Sharing
In-app rewards, discounts, and referral programs are significant to increasing LTV. It is crucial to increase the sharing through this type of reward sharing and gather support for the app through users.
3. Deep Linking
Using Deep Link allows you to direct your users to your app. Using deep links is one of the most effective ways to increase retention rate. Your deep connection app is a simple and effective way to ensure its users’ longevity and increase LTV.
4. Optimize Onboarding
An easy, problem-free login process is one of the most important ways to improve user retention. Impress users from the moment they first enter the app. With a simple app login process, you are less likely to fall into the initial familiarization and conversion complex and lose the user. In this way, you can increase LTV.
5. Rich Media: Search & Display
Tailor highly effective and high-quality ads on platforms relevant to your app for users who have previously found interacting with your app while using rich media. Convert users affected by this rich media by deep linking to pages you use rich media to convert to your users instead of redirecting to the download page. If you can analyze the reasons for losing users with proper research and viewing, you can use rich media to increase LTV.
6. Measure All of Them
To ensure the longevity and retention of your users, you should take measurements frequently. As you try the strategies, you should keep the measurement results and develop strategies by reporting the best results. It is necessary to gradually increase LTV and support lifetime value by identifying the reasons users leave and finding solutions. Every app does not give the same result in every method; you should plan the most beneficial measurements yourself.
Thanks to the essential tips for mobile application marketing mentioned above, you will increase the LTV of your users significantly. We briefly talked about what mobile application marketers should do, how they should do it, and what they should pay attention to while doing. These strategies will significantly increase the lifetime values of your users.