Facebook has announced a new way for advertisers to reach the people who will bring more value over time. Facebook is also sharing new ways for businesses to drive app installs and re-engagement.
When it comes to mobile, apps are where it’s at. Mobile apps can bring ongoing value to businesses, especially when the right people download them. Almost 90 per cent of time spent on mobile is spent in apps1 and 58 per cent of mobile purchases in the US are made through apps2.
However, not every person who installs an app will take actions within it that are valuable to businesses, such as making a purchase, booking a trip or reaching a certain level within a game. Thirty days after people install an app, only 6 per cent of them are still using it3.
In other words, not all app installs are equal. As mobile app businesses evolve, it’s increasingly important for them to connect with the people who are likely to not just download their apps, but to take valuable actions within them.
Find the people who are most likely to take valuable actions
To build healthy mobile app businesses, advertisers must connect with the people who are likely to take valuable and repeated actions within their apps. To help businesses to reach these people, Facebook is launching a new product: App Event Optimisation. This helps businesses to maximise long-term app value – beyond the install – and they have seen great results so far:
“We’re extremely excited for Facebook’s new capabilities for app install advertising, which helps us optimise towards our true business goals. By reaching people on Facebook that are most likely to engage in our app, we have seen an 80% decrease in cost per event, leading to five times the growth in lifetime value,” said Chris Chow, head of growth at PennyPop.
Because so many people engage with adverts across Facebook, Instagram and the Audience Network, Facebook is uniquely able to determine whether a person is likely to take actions based on historical data and people with similar characteristics. Through App Event Optimisation, advertisers can deliver adverts to the people who are likely to take valuable actions within their apps. This brings value to businesses, as well as to people, who get adverts for the apps that will be most useful to them. Businesses such as mobile commerce and gaming apps are seeing success.
“Facebook helped us find users that were most likely to make a purchase in our app – decreasing our cost per event by 24 per cent. This is a testament to their ability to help businesses find the right people and to help people connect with apps they’ll enjoy using,” said Michelle Lo, marketing manager at Poshmark
“Facebook enables us to target the highest-quality users; those who are most likely to convert to subscribers. App Event Optimisation has improved our cost per purchase by 32 per cent, and revenue per user by 22 per cent,” said Eugenia Kovalenko, user acquisition at Smule
Introducing new ways to advertise apps
Advertisers on Facebook have seen great success with Dynamic adverts and Canvas. In the coming weeks, these two effective advert experiences will be available to businesses looking to drive app installs and engagement.
Drive app installs and in-app purchases through Dynamic adverts. Dynamics adverts for apps work like this: When people show interest in a particular product on a website, they will automatically be delivered an app install advert featuring that product, which they can then purchase directly after app install. This allows app advertisers to reach people who are already interested in their products and who are therefore more likely to make in-app purchases.
Showcase apps in a more immersive advert experience through Canvas. Canvas will be available to businesses that want to drive app installs or app re-engagement. This means that they will be able to bring their apps to life on mobile adverts, showing more of the app and giving people a sneak peak into what they can expect.
Grow your business by reaching the right people
App Event Optimisation is now available around the world. Dynamic adverts for app installs and Canvas for mobile app install adverts are rolling out worldwide over the next few weeks.
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