MMI anti-churn

How to drive business performance on mobile?

Mobile has become the favourite channel for brands to communicate with their customers. Unlike traditional CRM tools, it allows real-time interaction, providing a wide scope of opportunities for content, or offers. However, brands need to control their mobile operations to avoid the pitfalls of traditional CRM.
So how can brands measure the success of their mobile engagement? How can brands ensure that their application, which represents a significant investment, doesn’t get lost on the app store abyss or discarded by the end-user?

 

The importance of being able to measure your app audience

 

The first question a brand must answer is the desired outcome: what are you trying to achieve on mobile? Regardless of the mobile service you provide, you must be able to track the performance. It is easy to measure the performance of an e-commerce app. But things get more complicated with apps providing content.

 

Let’s start with a basic assumption: the main goal of an application is to be used, regardless of the brand or type of application. For example, take an insurance company, a retailer, or a video game (like clash of clan); they all need to measure the usage of their apps, make sure they are performing, and delivering to their users’ expectations.

 

To meet this need, Audience+ has developed a KPI which enables real-time measurement of your app audience. Meaning that decision making is no longer simply based on visits frequency, duration, or click-through rates.

This unique KPI is called Mobile Media Index (MMI). The MMI measures the relationship between the mobile user and your application in real time. Enabling you to adapt your app content to each mobile user, in order to establish a dialogue.

 

The MMI enables you to benchmark the audience’s app usage and segment your users, based on lifetime value of their app usage. So, a user who doesn’t use the app much compared to the rest of the base, will have a low MMI. And a user, who uses the application more frequently and for a longer period, will have a higher MMI.

The MMI allows you to build a personalised relationship with each mobile user, according to the their degree of engagement with the application. It also enables you to monetise this relationship.

 

An anti-churn tool to expand your app lifecycle

 

It is well documented, that two apps out of three are uninstalled or unused after three months. This means a 1/3 loyalty rate on a given audience. This is known as “churn” and is the loss of existing customers. It’s not a secret, that only a few brands can claim to have a profitable mobile app. Even worse, it often represents a financial drain, difficult to quantify. Developing an application is one thing, making it live over time is another. It is a mistake to think that it is sufficient to repurpose existing content for mobile. The success of a mobile campaign lies in the ability to offer personalised and engaging content according to the customer needs.

 

If an app could identify the moment when a user is no longer using it, or is using it less and less, then the brand could try to understand why, and prevent the user from churning – avoiding losing all the investment it made to acquire the user in the first place. Monitoring the MMI over time enables to avoid or minimise the rate of uninstallation of your app and encourage each user to use it more.

 

Finally, the MMI enables brands to measure the ROI of their apps within the overall marketing ecosystem.
If a brand can measure its relationship with her target group in real time, then it is able to decide whether its mobile investment is at its optimal level.

 

Let’s keep in mind that it is always easier and cheaper to retain a customer than to acquire one.

 

Article initially published in Marketing-Professionnel.fr. Read article

No Comments

Post a Comment

Comment
Name
Email
Website

qwamplify