257 Billion Ads, 58 Million Installs Say the Mobile Subscription Economy Is Booming as Costs Drop 50 Percent
It’s getting easier and cheaper to acquire new customers to your mobile subscription-based apps, according to a new study by Liftoff and Leanplum.
How much cheaper?
Think half price. And it’s not even a Black Friday sale.
Last year the average cost of acquiring a new paying subscriber for your mobile-app-driven service was $162.22. Now it’s just $86.99, according to the study, which looked at 257 billion ad impressions, 58.4 million app installs, and 47.4 million post-install events.
“The year-over-year data showcases major momentum for subscriptions,” says Mark Ellis, Liftoff co-founder and CEO. “Now pair that with Apple’s recent report that revenue from subscription-monetized apps is up 95 percent since 2017 … there’s no question that the long-term benefits of the subscription model, in the form of loyal users and stable cash flow, are worth the investment in service quality and marketing spend.”
The biggest opportunity?