New report from Jampp reveals that app users who don’t purchase on the day they install, likely never will
Jampp publishes report with key data for mobile app advertisers to better retain customers and increase sales opportunities in mobile e-commerce
28 JULY 2016, SAN FRANCISCO, USA
Summary
Jampp, a platform that helps mobile app advertisers acquire and engage users with performance advertising, has just released an insights report on consumer behavior in ecommerce mobile apps.Today, Jampp releases a study, Consumer Behavior on E-commerce Mobile Apps, that uncovers in-app purchasing trends on mobile e-commerce apps. Despite the growing mobile app market, new data suggests that user attention spans are waning in today’s on-the-go era, with an 88% decrease in the average time spent on e-commerce apps from Q1 2015 to Q1 2016, with less than 60 seconds being spent in the app.
The report also highlights dramatic user behavior differences between different categories of e-commerce apps. Taxi apps have the shortest latency period with 70% of first sales happening on the install date and 80% within the first four days. If a user hasn’t converted within the first seven days, the chances of a purchase are practically nil. Whereas fashion apps have a much longer window of opportunity with only 35% of first conversions happening on the first day of installing the app, and 70% within the first two weeks.
“As we are bombarded by alerts and notifications from our devices, it is not surprising that consumer attention spans are shrinking to dangerously short moments,” says Dr. Larry Rosen, international expert in the "psychology of technology" and co-author of the upcoming book, The Distracted Mind: Ancient Brains in a High-Tech World with Adam Gazzaley, MD, Ph.D. “We are rapidly becoming like Pavlov's dogs reacting without thinking to a deluge of communication and information.”
The report also investigates various engagement strategies, from push notifications to email messaging. The data shows that retargeting ads are at least twice as productive as user acquisition campaigns, with an average of 1.3% conversion rate for retargeting ads compared to 0.6% for sole user acquisition campaigns.
“There is a short window of opportunity right after a user installs an app in which the chances of that user making a purchase is at its maximum," says Diego Meller, CEO and Co-founder of Jampp. “If advertisers only run user acquisition campaigns, even when optimized by the most active users, they are not enough to drive purchases on their own.”
Jampp originally started in Buenos Aires, Argentina, and has been rapidly expanding to the US. (they are already present in Europe, Latin America and Africa). After raising a $7M Series A round last year led by Highland Europe, they added Clay Kellogg (Admob, Chartboost) to their board and hired Rami Richards (formerly Pandora) to head their San Francisco office. The company helps mobile app advertisers drive purchases and in-app activity through their real-time bidding technology for user acquisition and retargeting. They have been driving the growth of some of the largest e-commerce companies globally, including Boxed, Souq, Namshi, Netshoes, OLX, Despegar and many others.
To access the full report, Consumer Behavior on E-commerce Mobile Apps, please download it here. For more information on Dynamic Product Ads for mobile apps, visit http://products.jampp.com/dynamic-product-ads.
Quotes
"“As we are bombarded by alerts and notifications from our devices, it is not surprising that consumer attention spans are shrinking to dangerously short moments. We are rapidly becoming like Pavlov's dogs reacting without thinking to a deluge of communication and information.” " Dr. Larry Rosen, international expert in the "psychology of technology" and co-author of the upcoming book, The Distracted Mind: Ancient Brains in a High-Tech World with Adam Gazzaley, MD, Ph.D.
"“There is a short window of opportunity right after a user installs an app in which the chances of that user making a purchase is at its maximum. If advertisers only run user acquisition campaigns, even when optimized by the most active users, they are not enough to drive purchases on their own.” " Diego Meller, CEO and Co-founder of Jampp.
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About Jampp
Jampp is a performance marketing platform for retargeting mobile customers. The company combines behavioral data with predictive and programmatic technology to generate revenue for advertisers by showing personal, relevant ads that inspire consumers to purchase for the first time, or more often.
Founded in 2013, Jampp serves a global client base from offices in San Francisco, London, Berlin, São Paulo, Singapore, Cape Town and Buenos Aires. For more information about our team, our company and career opportunities, visit us at: www.jampp.com