SplitMetrics, an app growth solutions company, has released its latest report, ASO Benchmarks & Mobile Trends Report 2024, offering an analysis of App Store Optimization (ASO) benchmarks and mobile trends for 2024. The report delves into three key app categories: finance, shopping, and utilities.
One highlight: iOS app storefronts consistently outperform Google Play app product pages in conversion rate, engagement rate, and direct instals across Utilities, Finance, and Shopping categories
The study reveals significant disparities in app performance between iOS and Google Play. All three categories, for example, consistently outperform their Google Play counterparts in terms of conversion rate, engagement rate, and direct instals.
The Utilities category has the highest engagement rate with 53% on iOS, followed by Finance with 38% and Shopping with 25%.
While iOS app users are more engaged across the three categories, they may also have higher expectations and be more critical of an app’s experience. With the exception of the Finance category, bounce rates in the App Store are significantly higher than Google Play across Shopping apps (18% vs 6%) and Utilities (21% vs. 10%), meaning that a substantial number of potential users view the product page but do not instal the app.
The Finance category has the strongest Direct Instals rate with 31% in the App Store and 27% in Google Play, suggesting a strong brand reputation and perceived safety of the app. Both Utilities apps (31% vs. 15%) and Shopping apps (23% vs. 12%) have a significantly higher Direct Instals rate in the App Store.
The report has found that the high read rate for finance apps on iOS (14%) indicates the importance of the app description, suggesting that the initial short description, visible from the first view, plays a crucial role in influencing direct instals.
The lower read rate (6%) on Google Play compared to iOS is most probably due to the platform’s layout, where up to four screenshots and a substantial part of the description are visible at first glance. This means users can access a significant amount of information without needing to interact further, leading to a lower percentage of Explored & Converted visitors (9%).
The report also sheds light on the role of video content. While most publishers do not use videos across the three categories, the utilities category has the highest number of publishers (15%) that do, and the highest video view rate (5%).
Video views often do not result in user conversions. Out of the Utilities product pages that have videos, often experience lower instal rates after a video watch, which can negatively affect the overall conversion rate.
Max Kamenkov, CEO and co-founder of SplitMetrics, says: “The mobile app market is experiencing a resurgence, with consumer spending reaching new heights. According to reports, global consumer spend across iOS and Google Play surpassed $35 billion with a 9.5% year-on-year increase.
“While this is undoubtedly positive news for the industry, it also highlights the increasing competitiveness of the app landscape. Non-gaming apps, in particular, are driving this growth but face unique challenges in capturing and retaining user attention.
“With users more selective than ever and app discovery becoming increasingly difficult, understanding the intricacies of both iOS and Google Play is paramount. Our research underscores the significant differences in user behaviour and performance metrics between the two platforms. By leveraging these insights and implementing effective app store optimisation strategies, app marketers can increase their chances of standing out in a crowded marketplace.
“Ultimately, success in the mobile app economy hinges on a deep understanding of user needs, preferences, and the platforms they inhabit. Our findings provide a solid foundation for developers to build upon as they strive to create compelling and successful apps.”
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