New data suggests finance app marketers may be able to acquire more loyal users by engaging female users. In a study, Liftoff reveals that while men are a, “safe bet if you want to buy low and engage high,” by using campaigns aimed at women — who cost less to acquire — could, “be rewarded with app use and loyalty that’s off the charts.”
The chart shows at $6.95, men cost 30.4% more to acquire than women, who cost $5.33 at installation. It’s at this point where women get more expensive than men, and Liftoff suggests that more effective campaigns could come into effect, due to a lack of engagement.
The install-to-register cost for women is $22.99 for a financial app, compared to $19.85 for men, and the percentage rate is dramatically different. For men, it’s 35% and for women it’s only 23.2%.
Moving on to install-to-activation, men cost 20% less than women, and have a 22.6% conversion against a 13.9% conversion for women. That’s a massive 63% difference. Men, says Liftoff, represent a “win-win” for finance app marketers by costing less yet having a higher engagement rate.
Why spend more on engaging with women? Liftoff says:
“The fact females cost less to acquire and more to activate may be linked with a lack of effective and emotive app campaigns aimed to truly inspire females to take control of their finances.”