Mobile has been creating a flood of new opportunities for business over the years, and this coming year is not an exception. But driving growth in mobile takes a lot of works to improve.
As the new year is ahead of us, it’s time to work on how you want your mobile business to develop. Your mobile business growth starts with goals. Focusing on the right m-commerce (it stands for Mobile Commerce) metrics to measure performance is the key to reach your goals and drive growth.
Understanding where you are and where you need to go helps you set more meaningful goals and targets.
If you are looking to keep track on your mobile business in 2019, here are some suggestions on what you should pay attention to:
5 Mobile Commerce Metrics to Track and Improve
- Push notification opt-ins
- Cost per Acquisition
- App Retention Rate
- Cart Abandonment Rate
- Average Order Value
1. Push notification opt-ins
Encourage users who haven’t enabled push messages:
Keep customers opted in for your push notifications:
- Make use of customer data like profile, location, purchase history, app interactions to craft personalized messages and boost relevance.
- Discover the ideal send time, set a limit on your sending frequency and carefully segmented users to send push campaigns that fit their preferences.
- Optimize push content and focus on the value for customers.
Re-engage users who has opted out of push messages:
2. Cost per Acquisition
Generate higher quality downloads by optimizing app store and acquisition channels
- Optimize your app listings to maximize its visibility in app stores to draw a free source of high-quality users to your app
- Find out the acquisition channels that bring in the best customers – app store, social channels, referrals, app ads,.. Focus your marketing efforts and budget on the right places to ensure quality users for your app.
Start converting better
- Make sure your app is not a battery drainer that consumes too much data on user’s device because it’s the fastest way to lose these hard-earned customers.
- Perfecting onboarding experience or welcome campaigns for new app users. If you can show customers the unique features and benefits of your app from their very first session, they are much more likely to stick around and become loyal users.
- Create an engaging shopping experience: Today’s customers expect to have more personalized experience with brands on mobile. To be successful, your brand need to interact with customers on a deeper level. Based on everything you know about them, address their needs and offer the product or solution that is useful in the moment, deliver relevant messages to nudge them through the shopping journey.
Identify the maximum acquisition cost for your mobile app
3. App Retention Rate
4. Cart Abandonment Rate
- Simplify the login process: allow customers to login with their social accounts, offer fingerprint touch login.
- Reduce friction in the checkout process: Minimize the steps to complete checkout, create an user-friendly checkout form, save and pre-fill checkout details, offer a wide range of payment options to choose from.
- Provide support available at their finger tips: Allow customers to contact your support team in the way they prefer: live chat, call or email.
- Or just simply remind customers of what they left in their shopping bag by sending a push notification. You can motivate them to come back and complete checkout by offering limited-time discount code, free shipping,.. for the items in their cart.
5. Average Order Value
- Motivate customers to spend more in order to receive free shipping, get a free gift or apply discount code. You can set a minimum order value that works for buyers to get one of these rewards.
- Offer bigger product bundle. Combine multiple products in one single bundle that saves customer’s time and money while increasing order value.
- Cross-selling your products is an effective way to increase cart size. You can show related products on each product detail page. Or give customers a recommendation on additional products they might need – based on what they have added to cart.
- Set up a loyalty program that allows your customers to save reward points for their orders. The more they spend in your app, the more they save for later purchases. This tactic helps you increase both average order value and purchase frequency, which generates more in-app revenue