You may gauge the following 7 crucial criteria to demonstrate the success of your push notification campaigns:
CTR; \sCR; \srevenue; \sARPU; \sretention; \sopt-outs; \suninstalls.
You can learn how to calculate and enhance each of these metrics with Unomok.
Which ones are the most representative for your business case and industry? We’ll explain below. We will also provide you with algorithms to figure out the pricing.
How to pick the ideal metric to assess the effectiveness of your push notifications
Follow the relevant metric for your sector.
Media, for instance, frequently pay close attention to CTR.
A higher CTR increases platform traffic and advertisers’ interest.
Conversion rates and revenue growth are typically the main priorities of e-commerce apps.
ARPU and retention are given priority in subscription-based apps.
Without a doubt, all programmes track their uninstalls and opt-outs.
Concentrate on your campaign’s goal
What is the main action you want your audience to take as a result of your message?
CTR might be the greatest statistic to consider if your objective is to merely notify users of anything.
Prioritize CR and other metrics that directly affect your ROI if you want to encourage users to take a particular action in your app.
Make a push notification calculation. The first statistic to consider when assessing the efficacy of your push notifications is CTR. The more conversions you can get, the higher your click-through rate should be.
Determine income
If you want to:
You must be interested in monitoring the amount of revenue your push campaigns bring in, whether it is through monetization, gross merchandise volume (GMV), or revenue growth.
Unomok uses the Conversion Tracking tool to automatically compute revenue as well. The only thing left to do is create Purchase Events.
Determine ARPU
When assessing the return on investment of your push notification marketing initiatives, the average revenue per user is a crucial indicator to track.
A need to encourage additional in-app sales, subscription upgrades, or upsells may be indicated by low ARPU (depending on your revenue model).
Low ARPU might also motivate you to change your business approach.
This is how ARPU is determined in Unomok; the conversion tracking tool also
Assessing retention
Retention is another crucial indicator for push notifications. The truth is that apps often lose between 80 and 90% of their users within the first week of installation.
However, the likelihood that a new user of your mobile app will abandon it after seven days lowers significantly. This suggests that using push notifications to retain users is worthwhile.
Push notifications could increase your retention by up to 40% if used properly. At the very least, these are the typical outcomes with our clientele.
Calculate the uninstall frequency
App uninstall rates rose by 70% in 2020 across all industries, with e-commerce apps suffering the most, losing up to $120K per month.
Fortunately, a lot of apps can prevent such significant losses by starting re-engagement programmes.
These are the key metrics you need to monitor to gauge how well your push notifications are working. Please don’t hesitate to get in touch with us if you have any queries concerning these rates, industry norms, or strategies for improving your metrics. We’ll be delighted to assist.