67% of marketers don’t know how to measure the return (ROI) on their mobile investment.
According to MediaPost
That statistic, which originated from a Forrester report, shows an alarming disconnect between marketers and their customers.
Connected devices are officially the primary point of interaction with the digital world. But while mobile in-app ad spend consumes a greater portion of overall digital marketing, a majority of marketers are missing critical elements of a successful strategy. Event tracking is the first step to a successful mobile strategy, but many marketers have yet to take this step.
Are you one of those 67%?
Advertisers who use Kochava are consistently at the top of their app store rankings by downloads and revenue. Over the coming week we’ll unpack the top 5 elements common to their winning strategies.
Every marketer should have, at the very least, a rudimentary understanding of the return on their ad spend (ROAS). Kochava has made it simple and easy with a flexible event model, cost data pulled directly into your dashboard and powerful signaling tools to syndicate your data to the partners that need it for everything from Multi-variate Testing to CRM integration. Regardless of the sophistication or scale of your strategy, it all hinges on one thing.
Step 1. Track post-install events
Post-install events are everything your users do in your app, after the install. These could be registration, add-to-cart, purchase, level completion, or any other event you want to track. Tracking is easy—send an event to Kochava and it “automagically” appears in your dashboard. You can toggle event collection on and off from within your Kochava account so you can avoid updating your app to track (or stop tracking) new events.
When you instrument events in your app, you can send a wealth of metadata with each event. For example, a purchase event could include up to 16 key/value pairs ranging from items in cart, other items viewed, search terms, cart value, session ID, and anything else that you deem significant.
Pro Tip: Maximize your developer time by instrumenting every event you may want to track and then turn off any you don’t need in the Kochava dashboard.
Post-install event tracking is just the first step toward creating a winning strategy for your app.
In part 2 we’ll look at how top advertisers use cost data to measure and optimize mobile ROI.