According to Statista, as of the second quarter of 2019, there are more than 5 million apps available for download in the leading app stores. Yet, other studies show that the average user will download not more than 30 apps and will spend most of his time on just 1 or 2 favorites.
These facts make your job as a user acquisition manager extremely hard.
Here are three common mistakes you want to avoid to make the most out of your user acquisition campaigns.
1. Relying on a few channels
If you want the highest return on investment, then yes, multichannel is necessary. Existing in multiple channels is the best way to interact with, acquire, and engage new users.
Your application should be visible on social media, search engines, ad networks, and any platform you may reach your potential users. Being visible in multiple channels has a positive effect on increasing your brand value.
2. Not tracking the right KPIs
Simply knowing where you are going is not enough to get you there. Having a measurable strategy for your user acquisition is critical for your success.
Tracking the right Key Performance Indicators (KPIs) and metrics such as CAC, LTV, and ROAS will allow you to:
Manage your resources effectively by allocating your budgets towards top performance
Deal with unexpected drops that may cause financial loss, quickly.
3. Underestimating data aggregation
“It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts.”
― Sir Arthur Conan Doyle, Sherlock Holmes
There is an explosion of data streaming from ad networks, attribution platforms, app stores, monetization channels, BI tools, and other platforms. Gathering and utilizing this data is extremely valuable for your decision making. Backed by data, you can:
Test multiple strategies and channels (back to my first point)
Find out which parts require optimization
Truth be told, it’s hard to avoid these mistakes in our over-cluttered mobile advertising ecosystem. Managing and optimizing multiple channels while relying on scattered data points to gain actionable insights can get overwhelming, even for the most experienced and savvy UA specialists.
That’s why we created Bidshake - a fully customizable dashboard that allows you to visualize campaign data against KPIs and take immediate action on live campaigns.
Ready to get started? Schedule a demo with me here