Jan 20, 2010
Qualcomm products mentioned within this post are offered by Qualcomm Technologies, Inc. and/or its subsidiaries.
There's lots of talk about consumers’ growing interest in mobile applications and the stores popping up to service them, but lost in the discussion is what store owners are really doing to help consumers connect with the applications that interest them the most. While most stores continue to offer a static catalog of applications, many are realizing the benefits of using personalization technology. This growing trend includes a number of benefits for app retailers, developers, and consumers that should not be overlooked.
In an application store, personalization is about tailoring the store experience to each individual shopper. To accomplish this, the store must develop a deep understanding of each consumer’s tastes and preferences and use that knowledge to filter out the parts of the store that are less relevant to them. This results in the shopper finding the things that interest them much more quickly, culminating in higher conversion rates and stronger sales for the app retailer. Personalization technologies such as Xiam are at the forefront of this growing trend in application stores.
Successful application stores are focused on three areas: (1) acquisition, (2) conversion, and (3) retention. Personalization technology can be used to bolster all three of these areas, resulting in higher revenues and a more loyal customer base.
1. Acquisition. A store without new traffic is a store on the decline. Acquiring new customers and driving traffic into the store is a cornerstone of any retail business. Because personalization technology understands a consumer’s tastes and preferences, it can be used to tailor the call to action in promotions, individualizing them and creating higher click through rates and store foot traffic as a result.
2. Conversion. Once a consumer is in the store, the job of any app retailer is to convert them into paying customers. Here again, personalization technology helps filter the store to the tastes and preferences of each individual consumer accelerating the discovery of relevant applications and increasing the likelihood that a shopper will become a customer. Tailored application store experiences also create loyalty to the retailer, as the consumer is presented with "their store" vs. "a store."
3. Retention. In retail, the sales from repeat customers are just as important if not more important as the sales from new customers. Driving repeat visitor traffic in the application store is another area where personalization technology should be utilized. Targeting existing customers with a call to action on applications which are highly relevant to them increases effectiveness of promotions and keeps loyal customers returning to the retailer for more.
Whether you are an app retailer, a developer or a consumer, personalization and personalization technology is an important factor in your success in building, selling or finding relevant applications. Don't select an application store without it.