The one crucial component without which smartphones would be rendered moot are mobile apps, for users and businesses alike. Optimal use of apps is only possible when apps and users are the right fit for each other.
App downloads do not necessarily imply success for a business or app developer unless consumers do not use the app once they have downloaded and installed it.
According to data given by Facebook, only 6% of users continue to use an app 30 days post download and install.
Facebook wishes to aid business that rely on mobile apps with advertisements to minimise the cost of advertising and target the right people with their latest launch, App Event Optimization.
App Event Optimization will provide collective data compiled through Facebook, Instagram and the Audience Network and enable businesses to eliminate wasted efforts and effectively target app users who are more likely to use their apps to take valuable action and often.
The data will be based on behavioural patterns such as buying behaviour and similar characteristics among users. This will prevent advertisements to be irrelevantly exposed to users who are least likely to be interested in a particular product or service.
“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%, and revenue per user by 22%.” – Eugenia Kovalenko, User Acquisition at Smule
Dynamic ads and Canvas, previously introduced services by Facebook which have witnessed substantial success and will now facilitate growth for app installs and user engagement.
In Dynamic ads, 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.
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.
User interest specific ads which provide app installs are delivered to them based on products they look at and online behaviour through dynamic ads.
Canvas encourages users to make in-app purchases by showcasing a sneak peak into the app.
Facebook has announced that App Event Optimization has been made available worldwide starting today and will be followed by dynamic ads for app installs; Canvas for mobile app installs, will be rolled out over the next few weeks.