How to Maximize Your Mobile Media Mix for 2024
As the calendar nears reset, mobile marketers find themselves at the threshold of new possibilities, trends, and channels to enrich their app’s marketing strategy. Furthermore, projections indicate that in 2024 there will be roughly 7 billion smartphone users – a 3% increase from 2023. This growth creates a golden opportunity for mobile app marketers, and the key to taking advantage of this potential lies in diverse testing and proactive optimization.
By testing new ad strategies before the new year, mobile marketers can establish KPIs well in advance, affording ample time for fine-tuning winning campaigns. Let’s hone in on how to maximize your mobile media mix for the new year.
Social Media Marketing
Social media stands out as a primary channel for boosting user acquisition and in-app spending for app marketers. In 2024 alone, the U.S. is expected to have over 110 million social buyers, accounting for 38.8% of the population. To reach these potential users, mobile marketers should start testing new social channels and refining their strategies in preparation for 2024.
The dawn of real-time engagement is here, thanks to these thriving social media platforms. They’ve transformed into spaces where brands can instantly share short and long-form content, interact with users on a personal level, and initiate live conversations or support. It might sound like a broken record at this point, but app marketers must reach their audience where they spend the most time for effective customer acquisition. For example, Facebook is poised to lead in the realm of social commerce, with nearly 65 million social buyers, followed by Instagram at 46 million and TikTok at 40 million.
In-app advertising has become a vital revenue stream for mobile marketers, reaching an unprecedented $68 billion in spending during the first half of 2023. It’s a prevalent method for app monetization, allowing app marketers to offer ad space to advertisers. This allows advertisers to showcase their ads to a receptive and engaged audience.
The impact of in-app ads is substantial, performing 11 times better than traditional banner ads. They are available in a variety of formats, ranging from banners to video ads, interstitial ads, and more, each equipped with unique strengths and proven practices. With a projected 14% year-over-year increase in in-app ad spending, 2024 offers substantial opportunities for app marketers to invest wisely.
Native ads are carefully crafted to seamlessly fit into the surrounding content, ensuring they’re relevant to their ideal audience. These ads will continue to grow in popularity in 2024, given the ability to focus on user engagement and building trust around tailored creative.
Compared to display ads, native ads are 53% more effective at capturing users’ attention. They can appear as sponsored content in a social network’s news feed or within a mobile web listicle, providing users with a less intrusive advertising experience.
an annual growth rate of 100%. Today’s user typically retains more information from what they see, rather than what they read – one of the core reasons video will be even more preferred and engaging in 2024. Plus, 50% of users watch at least one video before making a purchase. By incorporating video across your media mix in Q1, you can create genuine connections with potential users, boost engagement, and drive qualified installs.
Embrace the potential of video marketing by testing various creative approaches across high-performing media channels like social, OTT, and native. This could include engaging product reviews on TikTok, promotional videos on platforms like Apple TV or HBO, and eye-catching video animations.
For mobile marketers, it’s crucial to explore and fine-tune various messaging styles, video creatives, CPI payouts, and campaign timing to find what resonates best with your target audience. Perform[cb]’s customer acquisition platform (CAP) equips you with advanced capabilities to A/B test multiple campaign elements, analyze what drives the highest conversion rates, and automate the use of the top-performing creatives to propel your app campaigns forward.
Connected TV (CTV) Advertising
The global count of over-the-top (OTT) subscribers is expected to surpass two billion in 2023, underlining CTV’s emergence as a key player in channel diversification. Once confined to brand campaigns, CTV has now firmly established itself as a performance channel in recent times. In fact, 98% of brands believe CTV advertising will surpass mobile advertising. With CTV set to surpass linear TV by 2024, it becomes a prime avenue for reaching both your current and prospective customers, making it an ideal platform for mobile user acquisition.
Unlocking the potential of CTV requires a robust measurement engine that provides reliable data. AppsFlyer’s CTV measurement platform empowers streaming services to enhance critical KPIs like installations, sign-ups, revenue, and in-app events, leveraging the industry’s most trusted measurement data. Learn more about CTV and OTT here.
Media Mix Modeling
Media mix modeling (MMM) is a statistical approach for assessing the effectiveness of your app marketing campaigns. When used effectively, these models can serve as the driving force behind your business decision-making.
What makes MMM truly valuable is its capacity to consider more than just media impact. It factors in various elements like product shifts, seasonality, competitor actions, economic conditions, and more. By consolidating data from multiple sources, rather than relying solely on individual user data, MMMs offer a valuable solution in today’s privacy-focused landscape.
Constructing an MMM is no small feat. It demands experienced analysts or data scientists, collaboration across teams, a significant amount of historical data spanning at least 12 months from all sources, and dedicated financial resources. However, the returns on this investment are substantial. Your MMM can become the driving force behind your budget allocation and optimization efforts, helping you make data-driven decisions around channel diversification that significantly impact your business. Learn more about initiating the process of building an MMM here.
Perform[cb] and AppsFlyer Integration
Leveraging a mobile measurement partner (MMP) is a strategic move to measure the entire user journey across every channel and devise and optimize campaign ROI. Perform[cb] seamlessly integrates with AppsFlyer to help our clients set up their mobile app marketing campaigns for success. This integration streamlines the exchange of campaign measurement data between platforms. The outcome? Mobile marketers can initiate their campaigns with assurance, knowing they are founded on data-driven insights. Let us handle the complexities while you concentrate on scaling and optimizing your campaign success.
“AppsFlyer’s partnership with Perform[cb] and the larger network of collaborators is a testament to our shared objective: empowering our clients with insightful solutions and creating lasting value while fostering growth.”
Sharad Vivek, VP of Partnerships at AppsFlyer
“AppsFlyer has been an invaluable partner in our journey towards redefining mobile marketing. Their innovative analytics platform has empowered Perform[cb] to drive incremental acquisition at scale for our clients while keeping our eye on what ultimately matters: delivering highly engaged users and ROAS.”
Matthew Lord, Chief Strategy Officer at Perform[cb]
Ready to begin acquiring high-quality users at massive scale? Reach out to Perform[cb]’s team of user acquisition experts today.
Achieving Mobile Marketing Excellence in 2024 and Beyond
As the mobile marketing landscape evolves, diversifying your media mix in 2024 is essential. The promise of innovative strategies empowers app marketers to adapt and thrive, whether you’re focused on acquiring qualified installs or boosting post-install engagement. Teaming up with the right outcome-based marketing partner is the key to Q1 campaign success and achieving massive user acquisition scale throughout 2024.
Ready to scale your mobile app with our team of user acquisition experts? Let’s get started.