Prioritizing user retention has been a strategy we at Reteno have been vocal about. Our senior marketer, Alex Danchenko, says, “2023 forced many marketers to face vanity metrics and grow-at-all-costs strategy while ignoring their onboarding and retention process. And the result? The end-user experience goes to ruins, churn rate hits an all-time high, and revenue hits rock bottom.”
Bethan Vincent, managing partner at Open Velocity, adds, “Retention. Retention. Retention and activation. Acquiring users is getting harder due to rising CPCs/competition, so businesses have to be really clear on their retention strategy to make sure they don't have leaky bucket syndrome. Most ignore this until it's too late.”
Takeaway statistics:
About 88% of mobile time is spent on apps.
48% of customers say if a website or app isn't mobile-friendly, it’s a clear indication that the business doesn’t care.
40% of consumers will abandon their carts if your app isn’t mobile-friendly.
88% of online shoppers won’t return to a site after a bad user experience.
Verdict
Top mobile marketing trends suggest that utilizing useful user retention strategies is a non-negotiable for 2024 app marketing.
Increased Conversion Rates
Hyper-personalization has been linked to increased conversion. Personalized experiences make any customer feel understood and in return, they are more likely to buy from the respective e-commerce business. A customer that gets triggered by an instant suggestion of the food they mentioned while talking is more likely to click through than those who have recently bought some. This principle applies to all channels of e-commerce including emails, paid ads, and websites.
Boosted Customer Loyalty
If you “guess” your customer’s desires most of the time, they will stay. E-commerce businesses that go for customization in their marketing tend to have a better retention rate in relation to those without. Hyper-personalization is both an optimization and retention tool, as it helps boost conversions and bring clients back.
Reduced Cart Abandonment
It has always been difficult to grasp why customers abandon their carts. However, hyper-personalization offers a few solutions to the issue. With automated abandoned cart emails and personalized campaigns that remind customers of their abandoned carts with messaging directly addressing the user’s reasons for leaving, e-commerce businesses can help potential customers retain an interest in items they left in their cart.