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?