Growth in the app market is slowing. TechCrunch reports that Flurry released a study on January 12 that states app growth has only increased by 11 percent over last year. Marketers looking to engage demographics through mobile apps will have to get inventive and understand the changing landscape.
Many users are concerned about a lack of privacy. They are uncomfortable with their private data being mined through social apps so they have turned to apps that seem to offer greater privacy. This could potentially explain why the personalization category, as measured by Flurry, reports a 46 percent decline in user engagement. Consumers don’t want to be tracked and they don’t want to be told what they like. They do like a few things. Apps that offer smooth mobile payments are preferential and app categories like shopping, sports and especially business and finance are seeing more users. Marketers would benefit from turning their attention from social platforms to apps that reach a specific market.
In other words, knowing where your preferred customer lives online may become less important. Instead of following your customer, let them find you by positioning your advertising and marketing on channels relevant to your industry. This old-school strategy might offer more marketing success than invading, or appearing to invade, a potential customer’s privacy.
If your business lies within an industry suited to provide app-based services, especially in the above mentioned industries that are witnessing continued growth, then it makes sense to keep your apps. First, run an audit to see how useful the app is in attracting customers and making conversions. Then, ensure the app is useful and efficient.
TechCrunch predicts marketers will mine contact lists, use email and will witness a rise in app mergers and acquisitions as well as the fading of venture capital-backed apps.