IMS round up - Analyse your data to increase profit
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Israel Mobile Summit Round Up – Analyse Your Data to Increase Profit

This year the CAKE team was very excited to be exhibiting at the Israel Mobile Summit for the first time, and what a great show it was!

The team had a busy day consisting of:

  • Discussions centered around tracking, attributing and optimising your mobile advertising campaigns
  • Panel discussions focused on “letting your analytics work for you” involving our European Managing Director, Paul Wright
  • And interviews with the IMS organizers featuring CAKE’s European Sales Director, Elizabeth D’Arcy-Potts

The show had a strong lineup of notable industry speakers from the likes of MasterCard, Facebook and Twitter, as well as debate sparking panel discussions involving our very own Paul Wright. Paul was on the panel for the topic “Let your analytics work for you” which was moderated by Glispa’s, Itamar Benedy.

Key takeaways from the panel discussion include:

Personalisation and optimisation – these are key in this competitive world, but how can app developers take advantage of the data provided to them? Paul states that advertisers looking to invest in apps or in-app advertising should try to optimise not only their spend, but the performance of their ad spend. A vast majority of advertisers do not know what the success of an app actually means, the industry is too focused on the actual development of the app. What makes your app successful is something advertisers need to start thinking about at the beginning of the process, before development begins.

There were many thought provoking questions asked during the panel session, here are a few of them:

How do you optimise all of the sources of data and how do you maximise on cross-channel tracking?

In order to optimise data sources, advertisers can’t just look at their customers as numbers, advertisers need to understand what their customers are looking to do in their app, how much time they are spending in their app and ultimately understand who their customers are to better market to them.

How do you convert customers to paying for app downloads? How do you find the right customers?

Staggeringly, only 1% of app users are actually paying for their apps. ‘Low hanging fruit’ customers are users that are highly engaged. If a customer pays for an app once, they are more likely to pay for an app again, this is your target audience and you need to be tracking their activities, to optimise on acquisition and gain a greater digital ROI from them.

How do you get paying customers?

The answer is actually another question, what is the source of those paying customers? You need to look at who your best performing affiliates are. If you are rewarding affiliates driving the most conversions by paying them more, they will deliver you more engaged customers. It’s all about tracking your traffic sources and optimising your best performing publishers.

The panelists debated a multitude of interesting issues focused around tracking data sources in the mobile sector and discussed how best to optimise that data. The key takeaway from the discussion was a statistic from a recent US survey – “If companies analyse their data in the right way, companies could increase their profit margines by 124%” that’s a staggering amount and really hits home the importance of big data and how to track, collect and analyse that data.

So to conclude, thanks, Tel Aviv, we look forward to seeing you next year!