[NEW DATA] Business & Technology Apps: How Did They Fare In 2018?

Read Time: 5 - 10 min

During 2018, we saw apps in the Business & Technology sector really start to gain momentum which isn’t too surprising since people use their phones more than ever both professionally and personally. But just how well did these apps fare last year? Let’s take a look.

For reference, included in the Business and Technology app category are Productivity, Medical, Business, Reference, Finance, Education, and Utilities apps.

Retention Rates Improve While Time In App Declines

The Business/Technology vertical has enjoyed an upward trend in retention since 2017, which is in line with overall retention trends in mobile:

 

 

 

 

Specifically, the Business/Technology vertical saw one month retention increase by 2%, two month retention by 6%, and three month retention by 7% YoY. In contrast, we’ve seen app usage generally decrease YoY since 2017. App launches decreased by 4% from 2017 H2 to 2018 H2, while session lengths decreased by 28%.

 

This isn’t necessarily a bad thing, especially when looking at it paired with the rising retention rates. What this most likely is an indication of is app familiarity combined with a strong user experience. The users in the Business & Technology sector use apps to complete tasks and carry on. Being accustomed to the app means users can complete the in-app tasks faster and spend less time within the app. This story aligns with an ongoing trend we see in the app world; as users grow to love an app more, they'll remain more loyal to it, but spend less time in it.

 

Personalization Efforts Are Strong Across Vertical

Another positive trend? Mobile app marketers in Business & Technology are getting smarter with personalizing their campaigns and it’s paying off:

  

 

 

The above chart highlights that 90% of campaigns in this vertical are considered targeted meaning only 10% of marketers are still using the proven ineffective broadcast messaging.

We know there are different stages of personalization, so are happy to see that 40% campaigns in this sector are in Stage 3 and using both behavioral and profile audience data to personalize their messaging. Another 23% and 27% use only profile rules and behavioral rules respectively putting them in Stage 2 and 10% have no rules at all (Stage 1).

 

Area Of Opportunities: Liquid Content & A/B Testing

Now that we’ve highlighted the positive, let’s look at where Business & Technology mobile app marketers can improve. For starters, currently only 3.6% of campaigns in the sector contain liquid content. If you’re not familiar with liquid content check out this great blog that breaks it down. App marketers could improve and get closer to providing a true 1:1 experience for users by seeing them as individuals with preferences, and serving up those preferences within the app and also with messaging like push notifications.

Another area of opportunity is A/B testing. The current A/B testing rate is fairly good (9.8%), but still leaves something to be desired. A/B testing your mobile marketing is something every thought leader in the space does, and it only serves to make your campaigns smarter, better, and more successful. Knowledge is power, and the knowledge you gain from A/B testing is priceless.

 

Final Thoughts

Business & Technology apps really hit their stride in 2018. In order to continue the momentum this year, mobile marketers and product owners need to build on their personalization efforts even more through tapping into the deep insights they collect on their users and moving closer to providing a 1:1 user experience.

 

To see our full report on Business & Technology apps in 2018, click here

  

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