Mobile marketing in 2021: What is next for marketers?
CleverTap released the findings of its survey on opportunities in mobile marketing. The studyOpens a new window that polled over 150 mobile and marketing executives on the future of mobile marketing in 2021 found that despite an uncertain global economic climate, 82% of marketers said revenue would either be the same as, or higher than, what they netted in 2019 — with over 60% expecting revenue growth. Just 17% of respondents report a lower expected revenue compared to 2019.
As the world changes, the marketing industry is changing right alongside it. New challenges present new opportunities: marketers have learned to pivot faster, focus more on customer needs, and rethink how they communicate their brand’s unique value. Staying on top-of-mind for customers is a major priority for forward-thinking marketers looking to set their brands up for success in the coming year.
Also read: 3 Mobile Marketing Campaigns That Won Us Over in the First Half of 2020
Delivering memorable, meaningful customer experiences will continue to be a driving force for marketing leaders in 2021.
Metrics That Matter: What Is in Store for Marketers in 2021?
Monthly average users (MAUs) continue to be a major benchmark for apps measuring the health of their apps, with retention rates a close second. The average revenue per user (ARPU) and average order value (AOV) are also key indicators for brands measuring growth.
While MAUs are an important metric to track, successful brands are looking deeper by comparing MAUs to conversion and retention rates. After all, a launch does not mean anything if those users do not engage more meaningfully with the app.
How do apps at diÂfferent growth stages measure success? Bounce rate matters the most for apps with less than 10,000 MAUs, while Frequency of Return Users is the most important metric for apps with 10 million+ MAUs.
The study also found that different metrics hold varying importance across industries. Revenue indicators like ARPU matter most for Food & Delivery apps, while bounce rate and session time matter least. Engagement metrics like session time and MAUs hold high importance for FinTech, Edtech, Media & Entertainment, and Gaming.
What Does This Mean for the Customer Experience?
Marketing leaders know that a deep understanding of their customers is essential to building long-term loyalty, and it remains a top priority for 2021. Besides increasing revenue from repeat customers, other goals include winning back churned customers and creating immediate stickiness.
Nearly half of marketing leaders (47.7%) cannot execute same-day insights from their customer data. But customers expect the brands they follow to respond to their needs and behaviors instantaneously — not tomorrow. 59% of customers say tailored engagement based on past interactions is “very important†to winning their business.
In 2021, marketers will need real-time analytics that makes user data immediately actionable to deliver the experience users demand.
Also read: Dunkin’ Donuts Shows It’s Time To Target On-The-Go Consumers with Mobile Marketing
Thriving in a New Landscape: The Success Factors for Mobile Marketers in 2021
Extraordinary challenges have a way of inspiring extraordinary innovation. And it has a way of crystallizing our priorities: a renewed sense of community, a deeper appreciation for frontline/essential workers and teachers, gratitude for local small businesses, and much more.
Brands have risen to the challenge with innovations like exposure tracking, offÂers for free or discounted services for healthcare professionals, and entirely new products and services. But they are also feeling the pressure to anticipate how consumer behavior will change next. The need to stay nimble and monitor customer data closely will continue to be essential for success.
Great marketing is part art and part science. To improve customer engagement, marketing leaders are prioritizing analytics: gathering and analyzing high-quality customer data, A/B testing campaigns, and using automated segmentation to tailor campaigns for specific, high-value audiences.
Behavioral segmentation is of particular interest, with 75% of respondents saying they want to use this type of segmentation to improve campaign performance.
Across all industries, push notifications are the most-used channel, with 77.8% of companies using push to keep customers engaged with their app. Emails and in-app messages are the next most popular channels.
Also read: Mobile Marketing Automation Takes Businesses to the Next Level
It is a promising picture for marketers, especially as consumers signal a return to their usual spending. 58% of consumers say they will spend either the same amount or more during the 2020 holiday season, and more than a third already say they plan to spend more in 2021 than in 2020.
With many mobile industries booming, including FinTech, Ecommerce, and Edtech, there are rich opportunities for marketers who can act on user data and deliver a memorable experience for every customer.