Landing on this page implies that either you have
successfully developed your dream app and looking for an efficient marketing
plan to incorporate or you are still in R&D phase and exploring future
aspects of the mobile app development process. Whatever may be the reason,
you’d be glad to know that you have landed on the right page.
Marketing is one of the prime aspects of any business
whether it’s offline or online, be it a website or a mobile app. It plays a
crucial role in expanding reach, promoting services and tapping new potential
customers. Here, we crunch numbers, related facts and analyze to evaluate how
much budget you need to allocate for promoting your app.
It’s important to understand that app marketing is a wide
spectrum and it’s quite difficult to be on the same page with the ever-evolving
trends, researches in the technology as well as the marketing space. Also,
every application is unique in its own sense and every business has different
growth tactics to capitalize on. Hence, you cannot rely on standard marketing
strategies for exponential growth. Instead, there should be an intuitive
strategy for businesses to evolve like never before.
Start as Early as You Can
There are about 2 million apps on the play store and as a
new entrant, you don’t want your app to get lost among the others. Therefore,
it is advised to market your app as early as you can- even before it is fully
built. Marketing of an app
can start as early as it enters its development
phase. Make the world aware of what you are up to and how your app can
transform the society?
Start spreading the news from the word go because it’s never
too early to start off. Every day new apps are being developed and surfaced
over the Internet, which makes it even more important for you to start quickly.
Research and Analyze
Before you allocate a specific budget to your marketing
campaign make sure you have done enough research around the same already.
Analyzing the market is very important as you look to step into the wild.
Ensure you have covered all the basic parameters including target audience,
location, consumers’ demand, competitors’ plans, growth areas and more.
Focusing on aspects mentioned above will give you a clear
idea of how much money you actually need to invest into app marketing? Don’t
try to bypass this phase as this could prove a game changer for your business
in terms of year-end revenues and sales.
Budget Calculation
The next step is to figure out the amount you require to put
in. It’s quite obvious that calculation can’t be reflected in exact numbers,
but as a business owner, you’d get an idea of the estimated value. Your
research will play a crucial role here giving you evident points and potential
marketing scenarios to market your newly developed mobile app.
Another crucial aspect that requires your attention is the
ROI. You need to be proactive in analyzing the after effects of the marketing
plan before you make it live. And answer these questions,
- How effective will this marketing plan be?
- How well have we
prepared?
- How efficiently could we target the audience?
- What marketing mediums
are we focusing?
- Does this app require a paid marketing channel?
- Is the paid
marketing campaign worth it?
- How much return can we expect through free
marketing?
Once done, the answer to- ‘how much to spend’ will be
crystal clear.
How Much Budget do You Need to Market Your App?
In mobile app marketing, there is a term called ‘CPI’ (Cost
Per Install). It refers to a marketing program where the advertiser pays for
every app installed. It’s one of the fastest ways to reach maximum audience and
drive installs. The quality of app installs depends upon how credible and
authentic your media partner is? You need to explore the market before you hand
over the task to any agency prevailing under the same umbrella as there are
reputed as well as fraudulent mobile companies waiting to trap you.
The CPI usually ranges from $1.2 to 1.6 for both Android and
iOS app. Its calculation goes as follows,
CPI = Cost for the ad/Number of new installs
Then your daily marketing budget would be: CPI * Number of
new installs (in a single day).
Plus, there will be additional costs including social media
marketing, content development, event promotion, press coverage, website
maintenance and more. Hence, plan accordingly and be prepared to spend more if
needed.
Also Read: How Much Does it Cost to Create an App?
Final thoughts
Marketing is the core aspect for a business to
prosper and marketing of an app is no exception. Unless you work on your
marketing plans and promotion tactics you won’t be able to stand out. Do
marketing wisely, target audience smartly and grow for sure. Hope the article
helped you in understanding the process of right marketing. In any case, if you
require a professional angle to transform your ideas into reality– contact Konstant Infosolutions, a
mobile app development company, we’ll be happy to help you.
