3 Key Takeaways from Mobile Mixology

In an era where smartphones dominate the technology landscape, it's essential for businesses to leverage the power of mobile to engage their audience effectively. The Mobile Mixology event organized by AppTweak and AppsFlyer offered an array of insights that shed light on this critical subject. Three key takeaways from the event stood out, offering a blueprint for success in the mobile space.

Define metrics that matter.

In a competitive landscape, app-based businesses race to receive more downloads, high conversion, and constantly improving category ranking. Jitendra Rawat , from BluSmart shares his thoughts. "We prioritize users with high LTV (Life Time Value) over the total downloads. Our objective is to drive downloads from high-intent audiences and constantly improve our app performance to serve these users better. For us, acquisition and retention work hand-in-hand, where we acquire the right users and then constantly improve our app offering to retain the user. We make use of data and predictive analytics to anticipate actions in the user journey. This helps us in serving higher LTV customers and ensuring high retention."

Find the Right Channels to reach the Right Users.

Efficient campaign management is key to a strong user acquisition strategy. Different channels can be leveraged to target different user personas, and a marketer has to plan campaigns efficiently. Richa Poddar from OYO shares her thoughts, "For a campaign strategy to be successful, understanding your user behaviour is paramount. We at Oyo understand the power of our brand and plan campaigns with a strong objective to drive transactions. Unless there is a very high intent to purchase, our campaigns do not target users. Based on the data, we have identified the right cost models (CPC, CPI or Cost per Transaction) for different types of partners and have defined the playbook for the partner cross-cost model. We constantly evaluate channel performance to find channels that work for us and constantly help us drive business results. Not every channel has the right audience we seek, and one of the factors contributing to our success is strong campaign management."

Find the Perfect Balance between Growth and Retention

Finding the delicate balance between growth and retention is paramount to achieving long-term success. Both Richa and Jitendra shared their journey on how they are achieving this.

Oyo has continuously onboarded new properties and offered attractive incentives to hoteliers; with this, Oyo has grown its customer base significantly. Combined with this growth, the company has also prioritized customer satisfaction and loyalty, implementing measures to ensure guests have pleasant experiences during their stays. By actively addressing feedback, resolving issues promptly, and implementing quality standards across their partner properties, Oyo has successfully retained users and built a loyal customer base.

BluSmart has taken a similar approach to achieve the growth-retention balance. BluSmart has capitalized on the increasing demand for eco-friendly transportation solutions by offering electric vehicle rides. By positioning itself as a sustainable and reliable alternative to traditional ride-hailing services, BluSmart has gained a significant market share. The company places great emphasis on delivering an exceptional user experience with well-maintained electric vehicles, professional drivers, and competitive pricing. By prioritizing customer satisfaction and ensuring a seamless and comfortable ride experience, BluSmart has succeeded in retaining a loyal user base.

Both Oyo and BluSmart exemplify the significance of harmonizing growth with retention. While growth is crucial for market expansion and attracting new users, retention plays a vital role in building brand loyalty and maximizing customer lifetime value. These companies have understood that acquiring new users is the first step; the key to sustained success is nurturing those relationships and delivering consistent value. By continually focusing on customer satisfaction, addressing pain points, and offering differentiated experiences, Oyo and BluSmart have thrived in the ever-evolving app market landscape.