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App installations appear to be picking up as smartphone users now have double the number of apps installed than they did in the previous year. According to data from financial services firm Synchrony, the average user installed four apps over the last 12 months.
Many of these apps were shopping-related or eCommerce apps, according to the report. Indeed, 67% of consumers downloaded a retailer’s app, with over half of consumers opting for retail apps because of a coupon or discount code. Almost 50% of consumers who downloaded a retailer’s app used it to make a purchase.
“In today’s competitive landscape, a mobile application is not just another piece of technology for retailers, it is a vital tool to engage shoppers with their brand. Done well, retail apps engage both in and out of stores with personalized experiences and easy credit solutions,” said Maya Mikhailov, SVP, Chief Marketing Officer, GPShopper, a developer of mobile apps acquired by Synchrony in 2017. “Consumers that use retail mobile applications are a retailer’s top shoppers. As such, they want their apps to be tailored to their unique shopping experiences and preferences.”
At the same time, retailers have adapted their strategies to respond to the trend with 47% saying they placed more focus on a retail app. In response, 83% of customers say they are happy with their app experience.
Additionally, 60% of US consumers now think that the average shopper will be using a mobile wallet by 2025 despite a slow adoption trend of mobile wallets. However, millennials are at the forefront of mobile wallet usage with 61% of them already leaving their wallets at home in favour of other payment methods.
Among the larger retailers, 75% have already integrated mobile wallet technologies.
Credit card features in-app are another area of mobile financing that consumers appear to be predominantly satisfied with. Indeed 53% of consumers are now using app-based credit card features and 77% of them are happy with the service.
The Synchrony 2018 Digital Study, was based on the answers of 1,255 respondents.
Source: Business of Apps
With 55% of total mobile publisher revenue generated from ads, app developers are increasingly looking to continued growth in mobile publisher revenue.
The report looked at top mobile game developers (90%), with a minority making non-gaming apps (18%) who were surveyed throughout EMEA (40%), followed by 34% in North America, 22% in APAC, and 4% in LATAM are finding revenue resources primarily from ads.
Outside of advertising, publishers are far more likely to make money through direct in-app purchases than they are from paid installs or subscriptions. In fact, in-app purchases was the single greatest individual revenue contributor cited, driving 39% of total publisher revenue.
Top publishers weigh in on mobile monetization and user engagement
A vast majority of publishers (87%) reportedly feel that rewarded video ad placements provide a positive user experience and in-app purchases was the single greatest individual revenue contributor cited, driving 39% of total publisher revenue.
The next most favorable ad units were those that are well-integrated (native), short in duration (interstitial display), engaging (playable), or modest in stature (banner display). The least favorable ads were those that auto-played before (preroll) or amongst (in-feed) content.
When asked which monetization methods were most effective, publishers reported that rewarded video ads, in-app purchase systems, and interstitial video were all highly effective. As these methods account for a majority of publisher revenue and also rank well with respect to the user experience, this sentiment was not all too surprising.
The most popular engagement methods used by publishers were achievements, push notifications, value exchange ad integrations, and in-app events. This suggests that users must be rewarded and reminded while content must be refreshed.
Source: The Drum
IN THINKING about the past year in the mobile advertising industry and its impact on the App Ecosystem, I’m struck by how massively positive the data has proven to be. More especially, since some ‘experts’ have thrown out statements to grab our diminishing attention span such as, “The Death of the Smartphone” and “The Death of Apps“.
Happily for all of us though, App Annie’s recent retrospective report gave some genuine grounding to those of us who believe in a more evolutionary approach – and perhaps, that the App Ecosystem itself has a longer way to go, before it iterates into some kind of ethereal interface we can’t touch or even see.
In fact, the view from the App Economy trenches appears to be the polar opposite of the link-baiting doomsayers and futurists who believe that the “tech” has (somehow independently) overtaken the user on a mass scale. Indeed, App Annie further concludes:
“2017 is set to be another banner year for the app ecosystem. As technology and business models continue to evolve, apps will play an even greater role in transforming, disrupting and creating opportunities for companies and industries both old and new.” This year’s report highlighted the key stats:
Having read the report end-to-end, I tend to conclude that whilst we are living in an Instant World, be it in getting coffee or noodles or more frequently, digital responses – Consumers expect immediacy in everything. Therefore, app-based services that enable such behaviour, will be around for as long as people need their smartphones to engage with them. Which for the year ahead at least, they still seem to require, every minute of every day, in (almost) every country. The proof? “Total time spent in apps worldwide increased by over 150 billion hours’ year over year, reaching nearly 900 billion hours in 2016.”!
So, changing the way people do this, will likely take more time and yes, it won’t be instant. Therefore, App Annie can confidently predict the future for us, in that “the global revenue opportunity for mobile app publishers is forecast to grow to $189 billion by 2020”.
So, anyway, whilst we all begin to play with messenger chat-bots, instant apps and voice-based Artificial Intelligence (AI), let’s also get back to thinking about the bright future for Apps in 2017.
For many people, okay, Senior Executives, attending the two-day ‘Code Conference‘ in Rancho Palos Verdes, California, the big names ( such as Nadella, Brin, and err…Paltrow?) kept appearing on stage, thereby justifying the US$6,500 ‘standard fee’ entry ticket (which was already sold out weeks in advance), but in terms of ‘takeaways’ that they could show to the boss – the most important one was soon freely available to everyone online: Mary Meeker. READ MORE