In app purchases are a means to monetize the majority of mobile apps. It is an effective way to show the value of your app and hook users by offering your app free upfront, with an aim to charge users for additional features and content within the app. In app purchases rely on conversion tracking and optimization to help maximize the revenue retrieved from the app. The average conversion rate for mobile apps with in-app purchases is 2%-5%. This article covers 5 ways to optimize your app to draw higher conversion rates and continue to drive traffic towards your app after the initial push.
Offering a free trial for your app can be helpful for two reasons:
1) It allows you the chance to get feedback and reviews on your app2) It allows you to see opportunities to segment your audience to offer a more tailored experience
The conversion rate of your app is dependent on how addicted your users are to the app. It is important that your app thoroughly engages your users and offers an exceptional user experience. It is also important to consistently offer users a compelling reason to return over-and-over again to your app.
The free plan for your app must offer engaging features, be linked to several social profiles and offer some analytics. The paid version of the app must offer an enterprise version of the free app with more account options and features. These paid features must pop up at the exact moment the user is sensing a needs for them.
One way to lure users to your app is to offer discounts or certain elements for free or at a reduced price. Users love the feeling of getting something for free and if you offer them a feature to use for free for a limited-time, the chances of that feature converting much higher once the limited time period is over is much more likely.
Offering your users incentives, such as discounts for encouraging a friend to sign up, or early-bird discounts, is another way to increase engagement with your app and encourage in-app purchases. By inspiring your users to visit your app for more than 3 days, increases your chances of keeping their engagement by four times. This also enables you to understand each user's needs and provide personalised suggestions as they move through the app.
What other strategies do you use for your in-app purchases? Share them with us on Facebook, LinkedIn and Twitter.
June 14, 2020
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