Today we live in a highly digitized and fast-paced world. As the digital market grows, multinational brands and other regional or local players seek to enter the app market to simply follow the trend, standout or offer their services with unique and tailored experiences.
Most brands you have heard of either have developed or are developing mobile apps. Its importance is growing as the market-defining generation slowly starts to -if not already- shift towards millennials and with it so does the channels of preference.
Why you should optimize your app for Millenials?
Besides being the future, millennials are setting the norm of what consumers should expect in terms of digital services as they are starting to take over the baby boomers.
Some key facts to bear in mind are;
- A Financial Times report lays out the fact that Millennials constitute approx. %25 of the global population and are expected to account for the %35 of the global workforce in 2020
- Forrester states that by 2020, 45% of the global adult population will consist of millennials.
- According to a UBS Report, Millennials account for a combined 16.9 Trillion USD of wealth globally. It’s expected to account for a combined 24 Trillion USD globally by the year 2020.
- Again Forrester data show that nearly %75 of Millennials are online and use a mobile device
- A January report by GFK puts out that %71 of millennials consider their mobile device as there most important shopping tool
It’s absolutely clear that the new target audience for many industries is ought to be the Millenial generation but while tailoring your approach towards millennials, it's important to know exactly what they seek.
What do millennials seek?
There are 3 key areas that are vital to achieve success with the Millennial generation for any kind of digital product or service;
Speed
As part of the Internet generation, millennials had access to computers and internet for almost all their lives and demand speed in everything they use.
Personalization
Millennials today expect brands to know what they are in need of when they are in need instead of it. Opting into a bunch of options and alternatives out of which they have to find their desired or needed products or services will eventually bore this generation as they will not hesitate to shift to a competitor providing a more exquisite experience.
Convenience
Complicated and misleading UX and UI designs are doing no one a favor. Most millennials and vast majority of internet users won’t take the time to figure out how exactly a food order can be placed through a specific Pizza chain app or add a pair of shoes to there chart and proceed to check-out, the time they spend on learning your app should be no more than a couple of minutes as in other cases they’ll opt in to an easier to use competitors app.
The problem with the mobile app market
With all this generational potential, and digital transformation taking place a majority of businesses are investing heavily on mobile technologies, we can see an app available across multiple platforms for almost all known brands.
Each of these apps is packed with their own perks, discounts offers, and loyalty schemes which are nice to have but are also somewhat similar to each other. With all these similar apps provided by competitors and platform services, there lies two underlying problems for app marketers and brands which are relevance and differentiation.
Initially, brand apps are appealing to customers as a result of intense marketing campaigns, limited time special offers and various incentives for the app launch.
The real challenge seems to be in maintaining the interest in the apps as according to eMarketer “30% of Android apps and 25% of iOS users opened the app a day after installing it. After 30 days, the number drops to 3.3% and 3.2%.” Looking at those figures it’s safe to assume that there is a clear case of diminishing engagement and loss of interest for users.
How to remain relevant and unique?
It's all about enhancing the app experience, provide unique and unforgettable experiences and your customers will surely want more.
Before enhancing the experience there are a few key metrics to focus in order to measure and have a basic understanding of relevance and differentiation, these are:
- In-app Engagement
- Retention
- Lifetime Value
So as data-driven marketers, it would only make sense to track these metrics, to understand how well your app is performing, however, following just these metrics isn't enough to make your app interesting and relevant.
There are a few more steps to take to achieve that objective which are:
- Broad customer segmentation and deep cohort analysis to better identify and understand your customers and their needs.
- Establish a segment based user journey to further customize and personalize the app experience.
- Determining segment based user goals to set and track key moments that directly affect key metrics, and also to establish the moments of truth within the user journey.
- Ask your customers about their feelings and experiences during the completion of your set goals or moments of truth and provide excellent support at key moments.
- Further analyze user data to better identify and differentiate your initial user segments and create sub-segments to better personalize the app experience and enhance your analysis with, constant customer feedback.
- Iterate your initial app design and experience based on your findings.
Maintain and manage all customer feedback and data
The Pisano platform can help you optimize your app and capture valuable user feedback, by enabling you to collect qualitative and quantitative data to enhance your decisions and optimization efforts.
You can create deep segments and smart triggers for your in-app goals to trigger various feedback flows like pop-up surveys or live chat boxes that will allow you to capture the insights in key moments and help your customers towards a better in app-experience and concurrently to a better brand experience all in real-time.
With various integration capabilities, the Pisano platform allows you to keep customer data updated across all your platforms and help you analyze the whole app experience with a more holistic approach.
For more detailed information on how Pisano can help you, schedule a demo now!
