“Traditionally iOS users monetize better, providing higher ROI than Android,” says Liftoff CMO Dennis Mink. “But that’s evolved over time ...'
... [+]New fintech customers onboard via mobile apps at half price on Android compared to iOS, according to a new report. Despite that, they’re twice as likely to register an account in the app.
The average cost to acquire a new app user in the fintech space via advertising dropped from $2.45 last year to $2.33 this year: $4.35 on iOS, $2.09 on Android. Of course, getting an app install is the easy part. Converting that app install into an actual sign-up is harder, and activating that sign-up into a customer who deposits money, purchases insurance, or transfers crypto is much more expensive. According to the report by app marketing company Liftoff, only about 20% of app installers actually sign up, and only about 11% actually activate their account .And that means real costs of acquire new mobile customers in fintech are not cheap.
Finding a new app user who actually signs up in-app to create an account costs over $8 on Android . And acquiring active customers is even more expensive: $13.17 on Android, and almost $67 on iOS.“Traditionally iOS users monetize better, providing higher ROI than Android,” says Liftoff CMO Dennis Mink.
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