posted by Bernd Leger
Localytics has always been about pushing the envelope and enabling the thought leaders among app publishers to go beyond traditional boundaries. We couldn’t be more excited about our May 2013 release and the capabilities we’ve just added to the Localytics App Analytics and Marketing Platform. With this latest release we're empowering organizations to close the loop of the entire customer lifecycle within apps – from acquisition, to funnel optimization, to tracking the total lifetime value.
The new customer acquisition management, real-time and retroactive funnel management, and lifetime value tracking capabilities are fundamental metrics that go beyond traditional acquisition datapoints. The addition of these features will empower our customers with the analytics they need to interact with users in a personalized manner with highly customized content.
The customer acquisition management capability helps you understand how effective your advertising campaigns are with ad networks. Originally announced when we were part of the original mobile measurement partner program launched by Facebook in October 2012, we have considerably enhanced our functionality for customer acquisition management.
Many organizations use the Facebook app to advertise their own app. Facebook gives you basic metrics on the effectiveness of those advertising campaigns – like the cost per download and demographic data. What Facebook cannot tell you is what those users do once they become your users. Facebook doesn't tell you what their lifetime value is and how successful those acquisition campaigns are vs. other acquisition channels. That’s where we come in. All of our powerful metrics are now available directly in our dashboard to give app advertisers rich real-time insight into the effectiveness of their acquisition campaigns.
Putting this feature into action: A simple use case might be that you are running multiple Facebook ad campaigns based on gender and age groups on multiple devices and platforms. Using Localytics, you can easily drill down into each campaign, seeing which segment of users performs best over time. This information helps you optimize your advertising spending. Customer acquisition management is even more powerful when combined with total lifetime value tracking, which we’ll get to in a minute.
We’ve completely redesigned our funnel management capabilities to give our customers both real-time, retroactive and drill-down insight into their conversion funnels.
Simply speaking, funnels help you define how users are converting in your app based on specific actions, or events, they take in the app. These events are completely customizable based on each organization to give deep insight into how companies can improve app behavior to drive in-app purchases, subscriptions, registrations and other KPIs. Funnels can be configured on-the fly based on events that have been tracked and can even be used to provide retroactive insight into how users converted in the past.
Putting this feature into action: A good example for a conversion funnel is measuring how many people viewed a shopping cart, filled out a shopping cart and then actually completed a purchase. You may want to drill deeper into funnels to see what converted vs. non-converted users are actually doing in the app to help you assess why users do or don’t convert. Then you can deliver highly personalized in-app messages to the disengaged users that focus emphasizing key promotions or features based on insight gained from your most valuable customers.
Far too many organizations still focus too much on KPIs such as acquisition metrics or cost per download, but those metrics don’t give you the true sense of the value of your app as it pertains to your total business. LTV tracking is easily among the most important metrics for anyone who wants to make decisions based on the engagement and value of their apps. Combined with Localytics’ powerful and granular segmentation capabilities, LTV tracking helps you analyze which customer segments have the highest total lifetime value for your business and gives you the ability to leverage that insight to further fine-tune your mobile app marketing strategies.
What I’m most proud of when it comes to how we measure LTV is that we don’t just look at revenue. Our customers can include other KPIs as part of their definition of LTV such as virtual currencies, engagement or articles viewed. This capability makes our LTV tracking especially helpful to all kinds of businesses, no matter what industry or app category they fall under.
Putting this feature into action: Say you discover that tablet users have a much higher LTV than smartphone users, in particular in the U.S. vs. Europe. This information could guide you to focus on developing your tablet app and running more in-app messaging campaigns in certain geographic markets.
Thanks for signing up. Look for your first email shortly!
We’ll reach out shortly to schedule a time to talk.