Spend as little as possible and get tons of downloads. That’s what every app marketer or company wants for their app, right? It does sound great, but wishful thinking in many cases. However, getting more bang for the buck is possible, and spending the (most likely tight) budget more wisely. Here’s an example of how.
If you’ve read our previous content, you already guessed it – by A/B testing. Split testing the store page content can lead to huge fluctuation in the app’s conversion rate. It is possible, that you’ve already found the best optimized version of the store page, but there is also a possibility that you haven’t. The store page content is also something that should be kept updated all year round to stay on top of trends and seasonalitites. Regardless of what that means for an individual app, anything can be tested in advance to find the best performing e.g. seasonal screenshots or icon.
Higher conversion = more downloads for same budget
Here’s a concrete example to see the monetary value of being able to increase the conversion rate:
Let’s say that the user acquisition cost is $10,000/month (let’s use easy numbers for the sake of an example) and the conversion rate is 15%. Through A/B testing your way to the best-performing content, the conversion rate increases to 20%. How much money would this save?
According to the above calculations, the value of the increase in conversion rate in the saved budget is $500. An increase in conversion rate from 15% to 20% results in $500 savings in budget as you were able to acquire 500 more downloads for the same user acquisition cost.
This example illustrates the importance of A/B testing. Even small improvements in conversion rates can lead to significant cost savings in the long run. By continually conducting A/B tests and optimizing the product page it is possible to increase conversion rates. And as a result, save money on user acquisition costs.
Ultimately, A/B testing is also a way to gain valuable insights into what works and what doesn’t. This information is useful to improve marketing efforts and getting to know the audience better.