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Study: App spending up 155%
The interest from business for apps continues to grow. That is the takeaway from Kenshoo's new Mobile App Advertising Trends Report which shows a 155% increase (YoY) in app spending. And, from a consumer standpoint, business investments are being returned - app installs increased nearly 200% YoY.
Instagram is one place brands are seeing ROI. Researchers found that about 20% of app installs came from app install ads on the visual social network.
Gaming apps continue to lead for installs; just over one-third (39%) of consumers who click on gaming app ads install the game while 11% of consumers in other verticals go on to install the app.
"Marketers have embraced the influx of new ad types, publishers and tools to tailor their mobile app campaigns for success, but the evolution of the ecosystem is just beginning," said Chris Costello, director of marketing research for Kenshoo. "Incorporating additional elements of the app experience like in-app engagement and lifetime value are the next steps for marketers in optimizing app campaigns to their specific goals and maximizing the app marketing opportunity."
Other interesting findings from the Kenshoo report include:
• App ad CTRs increased 32% YoY with CPCs decreasing 33%
• App ad impressions increased 187% YoY
• Clicks increased 280% YoY
Experts say ad revenue from app installs should surpass $5 billion this year.
Image via Shutterstock
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