Over 3.55 million apps are available for download in Google Play and 1.6 million apps in Apple App Stores as of the third quarter of 2023. It is a tough market. To make an app visible, and to acquire a customer on an iOS app, on average, companies have to spend $3.6 and $1.22 for user acquisition on an Android app. These stats indicate how much effort marketers should put into acquiring new customers. Using a marketing analytics tool such as a mobile measurement partner is crucial if you are an app marketer who wants to spend every penny wisely.
It is essential to understand the role of a MMP.
What is an MMP?
In simple terms, a mobile measurement and attribution platform is a third-party service. MMPs enable marketers to track and analyze the performance of their mobile advertising campaigns.
It’s a marketing analytics tool that allows app marketers to learn how well their ad campaigns are doing in terms of attracting new users and making them take desired actions, such as app installations and in-app purchases.
The mobile advertising landscape is both multifaceted and dynamic, as it contains a myriad of platforms, channels, and user behaviors. It is challenging for advertisers to reach their target audience because of this complexity.
MMPs help resolve this problem by providing marketers with a centralized platform for tracking and analyzing ad campaigns across different platforms, channels, and devices.
This tool helps marketers make the right decision at the right time to get the best return on investment (ROI). There are several benefits that marketers can get when they use an MMP.
Here is a list of some of the most notable ones.
Benefits of using a marketing analytics tool – MMP
1. Attribution and conversion tracking
Knowing which touchpoint is getting the desired result is crucial for a marketer. A user may interact with the ad related to the app on different channels or campaigns. As a result, it can be challenging for marketers to trace which one is getting the desired result.
One of the primary functions of a mobile measurement partner is to attribute conversions to a specific ad interaction accurately. They use advanced technology to do this task accurately.
Apart from this, mobile app developers want to track the number of app installs and in-app activities. Mobile measurement partners provide precise data on these two activities. This information helps advertisers gauge user engagement correctly, optimize app experience, and refine marketing strategies based on user behavior.
2. Multi-channel tracking
In a world where consumers engage with content across various channels, tracking performance holistically is imperative for advertisers seeking to maximize their reach and impact.
MMPs excel in multi-channel tracking. They permit advertisers to monitor and analyze the performance of their ad campaigns across different channels, such as video ads, display advertising, social media, and more.
This unified view enables marketers to allocate their budgets effectively and properly optimize strategies for each channel.
Because of the holistic view that MMPS offers, advertisers are in a better position to understand which channels are bringing the best results.
3. Organizing your campaigns
Campaign management can be complicated, especially if you run different campaigns simultaneously. Things can be disorganized when you are managing multiple campaigns. A mobile measurement partner is an excellent tool to help you organize all your campaigns and related data in one place. You can view all your campaigns on the MMP dashboard and pull out the necessary information in seconds.
4. Optimize ad campaigns
A mobile analytics tool like an MMP will help you see which campaigns are working well and getting the desired results. App marketers can also check which of their campaigns are underperforming. They can then use the details to make the necessary amends to optimize the ad campaigns for the best results.
5. Know your expenses
As a marketer, you need to know what your cost per install (CPI) is and how much your lifetime value (LTV) is. You must be aware of the expenses and revenue to figure this out. But thanks to MMP, they provide all of these answers. App developers and marketers can use this information to modify their strategies or to make reports to the team to see what can be done to reduce expenses and generate more revenue.
6. Preventing ad fraud
Did you know that last year (2023), advertisers lost $84 billion of overall ad spending to ad fraud? That’s a lot of money. It indicates how much hard spammers and fraudsters are working to rob advertisers of their marketing budget.
Manually detecting fraud is tough. It is also a tough ask, especially when you are running multiple campaigns and working with different partners. It will take hours or days to carry out this job. Fortunately, some MMPs, such as the Swaarm MMP, have fraud detection features that marketers can tap into to save their budget from falling into the hands of fraudsters.
7. Learn about your ad partners
Trusting your ad partner blindly is not a good idea. Ad partners, for apparent reasons, will tell you that they will bring high-quality traffic and conversions. But how can you verify the traffic that they are going to get?
MMP is the answer. MMPs do a fabulous job when it comes to ascertaining which ad partner is getting the right traffic. Because of this, marketers can filter out the wrong ones and work only with those ad partners that are excellent.
8. Compliant to data privacy standards
Things get complicated as an app developer when it comes to data privacy. With a lot of updates that are happening in Apple’s iOS and Android, marketers need to follow the guidelines as prescribed by GDPR, CCPA, and other privacy acts and government regulatory bodies.
When you use an MMP like Swaarm to run your campaigns, all these complex issues are taken care of.
9. Easily pay your partners
Managing and paying partners can be a complicated affair. Marketers might have to toggle between numerous platforms to check and verify how much they owe a partner before releasing the payments. It is both time-consuming and confusing. If the process is not seamless many partners may not show interest to continue working with you.
But when you use an MMP such as Swaarm, you can easily manage your partners on the platform and release their payments with a click of a button.
10. Codeless tracking
Mobile measurement partners such as Swaarm always look for ways to simplify things for marketers. Tracking conversions and events does not now require coding skills. With the codeless tracking feature, marketers can track any app action with ease. Developers do not have to spend time creating code each time they create a new page or event.
11. Real-time data insights
Mobile measurement and attribution platforms provide real-time data so you can make informed decisions based on that information. If a campaign is not performing well, marketers do not have to lose their entire marketing budget before they realize what went wrong. They can instead pause the campaign and make the necessary adjustments before rerunning it. By optimizing the campaigns, they can mitigate the loss and get a good return on investment.
12. Accurate data
When you are running ad campaigns, it is crucial to get accurate data. When it comes to data precision, MMPs are the best. MMPs ensure that every event and user interaction within an app is tracked with unparalleled accuracy.
Marketing analytics tools such as Swaarm MMP will swiftly provide accurate data that will help marketers make the right decision. When marketers have access to the correct information, they can invest more in best-performing channels and platforms for smarter and faster growth.
These are some of the many benefits that you will get to experience when you have a marketing analytics tool like an MMP in your arsenal.
If you want to learn how Swaarm MMP can benefit your business, contact us to request a demo.