CleverTap, the all-in-one engagement platform, has recently unveiled its benchmark report focusing on travel apps. In the ever-evolving landscape of mobile applications, maintaining a competitive edge is crucial for marketers. Therefore, benchmarking performance has become imperative to outshine the competition. By leveraging the insights provided in this report, travel app marketers can enhance conversions and drive higher user engagement.
The Challenge of Travel App Transactions
Despite 80% of travel app users signing up within the first 31 seconds, only 42% of them make a transaction within the initial month. This percentage falls significantly short when compared to the conversion rates of fintech (95%) and food tech (65%) apps. Studies reveal that users perceive travel apps as similar to interacting with traditional travel agents. Consequently, while they readily sign up for an app, the process of making a transaction raises concerns akin to those associated with old-school agents. Overcoming this challenge necessitates travel app marketers to focus on retention strategies that go above and beyond, delivering meaningful value to customers.
Insights from CleverTap’s Analysis
CleverTap conducted an in-depth analysis, considering 17.9 billion push notifications, 3.8 billion emails, 919.1 million in-app messages, and a total of 64.17 million monthly active users (MAUs). The data encompassed regions such as Asia-Pacific, Europe, India, Latin America, the Middle East, and North America. The key findings are as follows:
Install to Sign-Up Rate
Around 28% of users who install travel apps end up signing up within the first week.
Average Time to Sign Up
Approximately 80% of users sign up within 31 seconds of launching the app for the first time.
Sign-Up to Conversion Rate
Only 42% of newly signed-up users make a transaction in the first month.
Average Time to Convert
Within a week of onboarding, 36% of newly signed-up users progress from onboarding to deeper engagement within the app.
Session Frequency
On average, travel app users launch the app approximately 12 times per month.
Average Week 1 Retention Rate
Within the first week, 13% of newly signed-up users make repeat transactions.
Average Click-Through Rate for Push Notifications
Android users exhibit an average click-through rate of 5.29%, while iOS users have a rate of 3.97% when interacting with push notifications.
Average Click-Through Rate for In-App Notifications
The click-through rate for travel in-app notifications reaches 22.8%.
Average Email Open Rate
Approximately 35.17% of users open emails sent by travel app companies.
Average Stickiness Quotient
The stickiness quotient for travel apps stands at 18%, indicating that less than one-fifth of monthly active users (MAUs) consistently return to the app.
Elevating Travel App Retention Strategies
Jacob Joseph, VP – of Data Science at CleverTap, emphasizes the increasing importance of user retention in today’s billion-user travel app market. He suggests that small interventions and gentle reminders can often be sufficient to prompt users to complete transactions or re-engage with the app.
However, for long-term maximization of customer lifetime value, marketers must proactively identify weak areas within the app’s metrics. CleverTap’s benchmark report, enriched with billions of data points encompassing push notifications, emails, and in-app notifications, offers marketers a comprehensive industry overview. Together with CleverTap’s leading platform, which supports the entire customer journey, these insights empower marketers with the necessary tools to surpass industry standards.
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