Facebook Inc (NASDAQ:FB) has made improvements to its mobile app install ads which it promises will help brands to not only to get their app to download but also encourage users to take a specific action within the app.The social networking giant began supporting App Event Optimization on Monday.
Facebook Inc (FB) now focuses on “retention”
Launched in 2012, mobile app install ads help developers promote their brands. Updates like customized calls to action such as “Open Link”, “Use App,” “Play Game,” video support and the launch of the cost per action (CPA) bidding model have been included to this market tool since then.
Previously, via the CPA bidding model, advertisers not only bid on impressions but also followed the people who have completed the install of their apps. The latest release takes things on to another level. Retention is “a difficult problem” as after 30 days, only about 6% of users come back to the app.
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“Not all app installs are created equal,” saysFacebook Inc (NASDAQ:FB) Product Manager Jehan Damji.
This is where App Event Optimization can help as it aims to deliver mobile app installs to users who are most likely “to take valuable actions within their apps.” The advertisers can then target ads based on the people who are likely to add an item to shopping carts or complete the level.
Level completion, rating, searching, completing registration, making a purchase, launching the app, adding payment information, spending credits, and viewing content are some of the particular actions that can be bid on by an advertiser.
Revolutionizing the bidding process
Damji noted that developers genuinely interested in the App Event Optimization are welcome to offer their app events to Facebook Inc (NASDAQ:FB) and detail where they want their ads to be displayed. Based on that, Facebook Inc (NASDAQ:FB)’s Algorithm will have a close look at all the past data of that particular app, including consumer statistics, and afterward it will locate people who fit the demographic before revealing the mobile app install ad.
Mobile gaming and commerce apps like Poshmark and Smule are already using this offering. This new ability will change the perspective of advertisers on how they bid for ads. Previously, the bid was always subjective on installations, but now the bidding is defined with the value of the action taken.
It’s not compulsory for advertisers to use App Event Optimization. As per Damji, the standard mobile app install ad campaigns can still be purchased.
“We have inched closer with the developer’s demands and to make a continuous growth, rights apps should be delivered to right customers.” Damji said.