Category Fintech
Mobile App revenue Mobile phones have become an inevitable commodity of our life

Mobile phones and tablets are widely used over the world. Nobody will be surprised hearing that today mobile devices are a preferred method not only for leisure activities like reading books, watching movies, shows, playing games and shopping but also for business.

Though the desktop share amounts 52.07% in November 2018, more and more people over the globe use mobile gadgets to find and order some products and services. It makes the market and developers go mobile as well.

And that’s where the challenge for marketers takes place. Want to thrive in the new mobile marketplace? Eager to boost your sales and earnings? Then get ready to adapt your business and make-up the marketing strategy to avoid lagging of the conversion rate. Don’t know how to manage that? Here we prepared proven and working tips to improve mobile app revenue. Let’s check out them to help you to succeed. 

Key App Revenue Statistics to Mind 

In case you still hesitate if you should make any change in your strategy and your applications, we investigate some stats. Yes, we don’t hope that you will trust just our world, but you can’t deny some figures and facts. So, we offer you to observe 5 key revenue statistics of 2018 to make sure that the results are indeed worthy of your efforts: 

  • The Apps segment gains US$1,831 million dollars in 2018;
  • Due to the CAGR 2018-2023 forecast, it is expected the annual growth rate of 8.1% and as a result - up to US$2,697 million dollars by 2023 in a market volume;
  • In 2018 the user penetration achieves 13.7%. Impressive? The experts say that it will hit 17.0% by 2023;
  • US$2.61 is the ARPU (average revenue per user) at the last count;
  • The mobile earnings in the United States in 2018 add up to US$536 million dollars. That’s the most considerable sum over the globe and in comparison with other big countries.  

Seeing is believing. That’s why you can feel free to take a look at the diagrams and full statistics reports here to see everything with your own eyes.

6 Tips on How to Improve Mobile App Revenue 

When the idea of improvement of your mobile application to boost the conversion rate becomes your aim, it’s time to play rough. But where to start with? And here we are to help you. We offer you a 6-steps guide to follow, that is bound to drive your mobile gainings. 

1. Create simple, accessible navigation 

You can hardly find a marketer (a good one, of course) who doesn’t know about the importance of good design, big bright and relevant images as well as the speed of loading. Due to Google’s research, a second is enough time for the user to make the first impression of your application or site. It gives you a pause for thought, isn’t it? 

 Improve Mobile App Revenue

Anyway, you shouldn’t undervalue the usability of the app too. So with that, when you think over the design and options of your application, pay attention to its navigation: 

  • Make it intuitive and easy, assuring the process is efficient even for newcomers. It’s about the easiness to find needed info or just add the item to the wishlist, etc. Highlight the selected elements to avoid mistakes, what can be pretty annoying;
  • Provide enough space to tap. That is bound to save your clients from frustrating and wrong selections too;
  • Check out your CTA (call to action). It is to be right, simple to find and no-problem to tap. In such a way you will ease the process of converting.  

2. Build trust with your audience 

What makes people decide? Just put yourself in the shoes of your customers. The answer is pretty simple. It’s a belief or at least a recommendation. That’s why you have to build trust with your audience to assure that potential consumers will make the right choice. To boost sales and conversion, you can: 

  • Use various social proof tools (we’ll back to the issue further);
  • Show the security seals you have. Add them to the app/site to prove that you provide the total safety of all private and financial data given by customers;
  • Give your contact information and a button for the backup call/chat to make sure that the user can count on immediate help, answers or just needed info;
  • Provide the capability to leave feedback for the customers like forms, comments, etc. In such a way people can find out about your product/service more information from other users. It makes them trust you more.  

Improve Mobile App Revenue

3. Provide value 

Choosing the market positioning, design and options of your mobile application, you should remember the value and objectives you deliver to your customers. Here we advise you to pay attention to the consumers’ experience at first.

Users are to be treated as a precious resource. It demands time, real-time exchanging of information with your CRM system, collecting and recording the needed data about the customer to personalize offers and demonstrate benefits and features of added value products and services. 

4. Inspire a sense of urgency to drive mobile conversion 

All consumers, as well as mobile ones, are hardwired to act. Though mobile customers spend more money and do that more easily, still they always need some stimulation. It’s the reason to use urgency. Here are 3 popular things you can do for that: 

  • Trigger the FOMO (fear of missing out) utilizing a limited offer provided;
  • Encourage the customers to immediate action using the right CTA. Learn your audience, take to account the location, season and other crucial factors;
  • Make exclusive promotions. Create an offer within a promo giving an extra discount for mobile consumers, when there is a discount already, for instance. 

Certainly, that’s not all examples of urgency in marketing you can use. Anyway, whatever you choose, try to be original and daring, avoiding tired ideas and tricks, that can work great mischief only. 

5. Offer social proof to cultivate brand loyalty 

As we have already mentioned, social proof is a critical part to show reliability and trustworthiness. There are lots of ways to cultivate brand loyalty. The following ones are the most popular though: customer reviews and ratings, testimonials, consumers’ recommendations, social share count, certifications and badges, test scores from an independent and 3rd party source, etc. All that is proven to boost the mobile conversion. 

6. Simplify the checkout process 

One more important thing to increase the profit of your app is simplifying the checkout process. Yes, you should better make payments super-easy not to lose the consumer on the homestretch. Reduce the steps of paying to the single one ideally. Also, you can make the process transparent and make it possible without the obligatory to log in.

So, take care of your users with the help of hugely popular Apple Pay, Google Pay, PayPal bills, credit cards, online banking, and other well-known, trusted options. You can build them in the application to make the process of buying quick and problem free. Try it and watch the conversion rate growing. 

Simplify the checkout process

Mobile App Revenue Improvement: Final Thoughts 

Having said so much, it’s high time to bottom-line everything for you. Herewith, trying to increase your mobile app revenue and conversion, you should keep in mind that it’s all about making your customer’s life easier.

Credibility, trust, reliability, and safety is what you need to provide. Mobile gadgets become better and better that leads to the growth of the usage of such devices and making them preferred because of their convenience comparing with laptops and desktops.

Thus, improving your mobile apps or sites is crucial for ramping up the sales and as a result - the boost of your earnings. Of course, that’s not the only factors that influence the profit. On a large scale the future mobile application revenue will also depend on the cutting edge technologies you implement and use: 

  • The IoT (Internet of Things) technology. It helps you to capture more info about your users that developers will use to optimize as well as improve a lot of things in our life;
  • 5G tech. That is what allows IoT to get a connection and also collect needed data faster in a secure way;
  • Virtual Reality (VR), Augmented Reality (AR) - both technologies are to upgrade existing applications and provoke the emerging new more innovative ones.  

All the mentioned technologies will be evolving as well as their adoption rate. The app market segment saturates pretty fast, and its revenue is expected to grow much in the near future. New and new technologies appear to improve the products and services. Stay up to date with the latest trends and keep your mobile application upgraded to avoid lagging of the conversion rate.

Sakshi Kaushik

By Sakshi Kaushik LinkedIn Icon

A passionate writer and tech lover, she strives to share her expertise with mobile app developers and fellow tech enthusiasts. During her moments away from the keyboard, she relishes delving into thriller narratives, immersing herself in diverse realms.

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