There’s no sugarcoating the fact that, right now in 2022, we are currently in the clutches of a global recession. Many economies are seeing historically high levels of inflation and businesses are cutting back on budgets left, right and center. It’s of no help that these events are taking place at a time when the global economy is still in a state of recovery from the COVID-19 pandemic.
The current economic recession is a difficult time for many businesses, but it presents an opportunity for businesses with the right strategies; for app owners, investing in your app during this time is vital to building and maintaining your competitive advantage. You must look for ROAS (Return on Ad Spend) positive mobile marketing campaigns and strategies that can help you optimize your budgets and maximize your returns. By doing this, you will be able to capitalize on the recession and come out ahead.
Mobile Marketing Success Tips During a Recession
As aforementioned, the current economic crisis has impacted almost every industry, and MarTech is no exception. With people cutting back on their spending, businesses are having to find new ways to reach their target audiences. Fortunately, there are some mobile marketing success tips that can help your app navigate the recession and come out on top.
Re-Evaluate Your Target Audience
One of the most important mobile marketing success tips during a recession is to re-evaluate your target audience. It’s important to make sure that your message is resonating with your current customers, as well as any potential new customers. Make sure that you’re targeting the right people, and that your message is relevant to them. For instance, running CPA (Cost per Activity) campaigns can help you bring in users that specifically commit to making purchases.
Take Advantage of Social Media
Social media can be a great way to reach your target audience during a recession. It’s a cost-effective way to build relationships with your customers and promote your app and its products and services. Don’t forget to take advantage of social media advertising too — it can be a great way to increase your reach; while it may be pricey, read below as to why investing in user acquisition during a recession can lead to a huge long-term payoff.
Bolster User Engagement
User engagement is key to making sure your mobile marketing campaign is successful. Make sure that you’re providing customers with an engaging experience that encourages them to come back to your app or website. Consider adding incentives and rewards in the form of regular content or discounts to keep users engaged and coming back for more.
Build & Maintain Relevancy
Finally, one of the most important mobile marketing success tips during a recession is to stay relevant. Make sure that you’re providing your customers with content that they’ll find valuable and that is relevant to the current economic climate. This will help ensure that your message is heard by your target audience and that your mobile marketing efforts are successful.
These are just a few mobile marketing success tips that can help you navigate the current economic crisis. By re-evaluating your target audience, utilizing low-cost solutions, taking advantage of social media, increasing user engagement, and staying relevant, you’ll be able to ensure that your mobile marketing campaign is successful during a recession.
Why Investing in User Acquisition During a Recession can Pay off in the Long Run?
User acquisition refers to any strategy used to acquire new app users or customers. It can be a costly process, but it can also be a key driver of long-term success. Investing in user acquisition during a recession can help a business acquire new customers, build brand awareness, and establish a solid customer base. This can help to ensure the business’s long-term survival and help it to thrive in the future.
Boosting In-App Purchases
Why do businesses exist? The business aficionados amongst you will know that businesses seek to build profits in return for offering value to customers. By investing in user acquisition, a business can bring in new customers which will lead to an increase in potential buyers. Granted that you resort to targeted advertising or run CPA campaigns that convert upon purchase, you will bring in users that will boost your in-app purchase rate. CPI (cost per install) campaigns can work here as well, especially with a DSP, permitting that you have integrated KPIs that keep you from wasting your budget on unwanted users. Read more about DSPs here.
Building Brand Awareness
By investing in user acquisition during a time when the industry standard is to cut back, businesses can differentiate themselves from their competitors and gain an advantage in the market. For instance, OEM inventory offers you an enticing opportunity to feature your app pre-installed on Xiaomi, Oppo, Huawei and Samsung smartphone devices and you are only charged for users that open your app, leaving you with a big differentiating advantage. This advantage would be in terms of growing app and brand awareness and consequently, revenue (as a result of a growing paying user base). Learn more about OEM inventory here.
Building a Loyal Customer Base
Businesses do cut back on all sorts of costs to stay afloat in difficult times, some apps have to rescind certain services. Customers are often reluctant to switch apps, but if your competitors compromise their user experience, their users then would make for prime targets for your user acquisition campaign. Additionally, these users are more likely to be loyal even after the recession, permitting that you maintain your engagement levels. By luring users in during a volatile time, you will have gained their trust after the volatility has abated thus leaving you with handsome LTV (Lifetime value) and retention rate metrics.
Maintaining your Business’ Bottom Line
By hunting for new paying users during a time of recession, your business can maintain its bottom line for the considerable future. To opt not to invest in user acquisition during this time can be a huge mistake as, while it does save the business in the short term, the lack of advertising can eventually lead to consumer unawareness and ultimately, redundancy in the eyes of your target market.
Ensuring App Growth
The usual trend of apps’ user bases during a recession is a downhill one. However, this in turn leaves your business with yet another opportunity. By investing in user acquisition methods such as rewarded engagements, you can bolster your app install rate in a short span of time and reach the top levels of your app category much more efficiently (especially when you consider other apps are losing their users). This will eventually lead to a massive boost in users, and app visibility and will allow you to tap into the organic user market; all factors being telltale signs of app growth.
Overall, investing in user acquisition during a recession can pay off in the long run. It can help to build a loyal customer base, stay ahead of the competition, and ensure the long-term survival of the business. This makes it an attractive option, even in uncertain and turbulent times.
Conclusion
A recession is not a reason to pull back on advertising budgets. Cutting spending on user acquisition is essentially a way to sacrifice your business’s long-term success for short-term stability. By enhancing your user base, you gain a crucial competitive advantage that will remain with you long after the recession has died down.
If you are looking for a lucrative mobile marketing strategy that meshes efficiency with effectiveness, look no further than AppSamurai, a one-stop shop mobile marketing platform that can offer a variety of advertising strategies including DSP, OEM and rewarded engagement inventories to meet your KPIs. For more information, visit the AppSamurai website or sign up here and a dedicated account manager will reach out to you to discuss your mobile marketing plan.