An app’s effectiveness can be measured with the help of several metrics, but the conversion rate is one of the most critical aspects of all. The installation rates of the App Store amount to just 31% and that of the Google Play Store amount to about 33%, according to the data.
Not only that, but just 2% of those who download your app will really end up buying something or taking the necessary action. Therefore, it's crucial that you make consistent efforts to improve conversion rates and provide your customers with an app they’ll enjoy using in the long run.
But first, setup the right conversion tracking system
Conversion analysis enables you to see which of your website and app optimization efforts are effective. Analysis of conversion rates focuses on identifying problems with the conversion process along with identifying what is working well. Observing patterns and trends in the data can help identify areas for improvement in order to optimize conversion rates. You can zero in on the exact point of failure and fix it before much harm is done. Additionally, you may also find out about the strategies that yield the best results, so you can put even more resources into those areas.
You may learn more about your customers' interactions with your company and their willingness to perform the actions you want them to take, like signing up or completing a purchase, with the help of conversion analysis.
Tracking your conversions can vary according to the key conversion metrics of your app. Depending upon the action that is desired from your users, conversions can be anything from sales, signups, ad clicks, etc. Let’s take the example of Facebook. The social network’s primary conversion metric is Signup, the secondary ones are posts shared and connections or friends added, and the tertiary metric is Likes. Tracking these metrics will determine the overall conversion rate or growth factor of the app.
How to increase mobile app conversion rates?
- Start with App/Play store experience
People's first impressions of your app will be based on its visual design. When it comes to improving your app store listing's conversion rate, pictures are more important than words. Conversion rates are more strongly influenced by the app's logo, screenshots, and preview video than by the app's title or description. To maximize your app's visibility in both the App Store and Google Play, it's important to tailor your app's visual assets to each store's unique style.
Further, you must gather enough reviews to make your app look more legitimate in the eyes of potential customers. Research shows that a product with 50 or more reviews can have a 4.6% improvement in conversion rates.
- Create a beautiful onboarding experience
If you’ve ever bought an Apple product, you will understand how it feels to unbox a new product. The excitement and mesmerizing experience are unmatched and clearly, the company puts a lot of effort into curating the perfect unboxing experience for its customers. That’s exactly how your users should feel when they install your app. Most new visitors fail to complete the first few steps in the onboarding process. They either hit a roadblock or reach a point they didn’t anticipate. It may also be possible that your app asks for information that the user may not want to provide or the process is too lengthy that the user is forced to drop off.
How the signup form is presented to visitors and how the signup process is structured and designed has an immediate impact on whether or not they will register an account and continue through the onboarding process to become paying customers. You can optimize the onboarding process and your users' overall experience after you have a thorough understanding of their behavior at every stage.
Make the process easy, understandable, and well-guided throughout to not only make the users complete a signup process but also make a conversion. Allow your users to be acquainted with your app and educate them to effectively use it.
- Nudge users to convert
Have you ever received emails or notifications that you “left something in your cart” or have you gotten special discounts when you go to the checkout stage but don’t make the final payment? This is the way great apps don’t let users leave without converting.
However, not all users are the same and there is no one-size-fits-all approach to sending reminders. When you’re optimizing your app for conversions, you should segment your app's users into subsets and tailor your approach to them individually. Your app's conversion rate can be improved by tailoring your campaign to different demographics and then analyzing how well each one performs.
From time to time, encourage your users to engage with your app by sending in-app messages, notifications, or offers. The more time your users spend on the app, the more likely they are to convert.
- Design for Conversions not just UX
Conversion optimization takes many forms, but one of the most common is "design-led conversions," which focus on making your app more aesthetically pleasing and easier to use. If you want your visitors to be able to find what they're looking for quickly and easily and make a purchase, you need to ensure that the site's navigation and search features are user-friendly. When designing an app, the focus must equally be on giving users the best experience as much as focusing on how they’ll convert. For example, eCommerce stores are always designed with conversions in mind. The CTA’s are pretty clear, they show options to users in a simple way so that they can choose the colors, sizes, or other things as they prefer and they often show small messages to prompt users to spend like “last day of deals today”. Think like a user when designing applications and look at what encourages you the most to convert.
- Conversion monitoring and troubleshooting
If you want your mobile app to remain competitive and interesting to users, you'll need to constantly make updates to the product's design and functionality. The actions users do within your mobile app can be better understood with the help of conversion data. Understanding how your present users engage with your app, the features they use and don't use, the actions they take within your app, and the activities that help further your company goals is essential if you need to make updates or add new features to your app. The following are some of the most commonly used conversion monitoring tools:
- Drop-off analysis - Assessing where your users generally drop off more and optimizing the process based on the analysis
- Heatmap Analysis - Tracking literal user actions on your app to know the features they use the most, are facing the most trouble with, or a feature that does not function well.
- A/B Testing - Learn more about your audience's preferences and the features in the app that turn them into buyers by doing an A/B test.
- Checking feedback through surveys & other review methods.
Each year, thousands of apps get launched on app stores in every category and the growth of these apps is fully dependent on their conversions. In the approaching times, app conversion rates will continue to be a focal point for organizations looking to expand their customer bases and profits. Therefore, focusing on improving and optimizing app conversion rates should be given utmost importance in app-based organizations.