A new report indicates that for financial app developers, the cost of acquiring users who register and those who create revenue varies between operating systems. The data comes from app marketing firm Liftoff, and shows the difference between acquiring users on Android and iOS.
It states for an install, the rate is $5.28 for iOS, and $3.21 for Android, but the cost changes dramatically when we look at install-to-register costs. Here, Android works out at $14.21, but iOS comes in at $24.09. Apple’s iOS has nearly 90% better install-to-registration rate than Android.
Liftoff shows the cost differences between iOS and Android for finance app user acquisition
Moving on to install-to-purchase costs, an iOS user costs $61.36, while an Android user is $77.87. The iOS install-to-purchase rate is a little over 61% higher in iOS than Android. The report concludes that it’s less expensive to acquire installs and registrations on Android, but more cost effective to acquire iOS users that go on to generate revenue.
Interestingly, the research also shows it’s cheaper to acquire male install-to-register and install-to-purchase users than it is to acquire female ones. It’s 23% cheaper for the latter, and 5.7% cheaper for the former.
Data shows it’s cheaper to acquire male financial app users
Liftoff says that compared to other apps, it’s cheaper to generate a first purchase in a finance app too, due to, “a high intent to engage and transact.” 75% of users downloading finance apps register within the first 10 minutes, and 90% do so in the initial six-and-a-half hours after installation. Overall, finance apps have a 24% registration rate, and 13.7% of new users will generate revenue.
The data comes from Liftoff’s Mobile Finance Apps Report, which can be downloaded for free here.