An industry benchmark report on travel apps released by CleverTap, an all-in-one engagement platform, has revealed insights into how users engage with travel apps in India and globally. The findings revealed that while 80 per cent of travel app users sign up within the first 31 seconds, only 42 per cent complete a transaction in the first month. This conversion rate is significantly lower than fintech’s 95 per cent and food tech’s 65 per cent signup rate to conversion rate.
CleverTap analysed vast data, including 17.9 billion push notifications, 3.8 billion emails, and 919.1 million in-app messages from over 64 million monthly active users (MAUs). The report covers insights from Asia-Pacific, Europe, India, Latin America, Middle East, and North America.
Research has shown that users view travel apps as similar to interacting with traditional travel agents. Therefore, despite signing up, users may still have reservations about making a transaction. To stay ahead of the competition in the rapidly evolving mobile apps landscape, marketers must benchmark their app’s performance for better conversion rates and higher app activity. The report’s insights can help travel app marketers improve their retention strategies and provide valuable customer value to increase conversions.
The report’s findings based on data collected from India, includes the following insights: Only 33.6 per cent of users who install travel apps sign up within the first week, and 88 per cent of users who sign up do so within the first 7 seconds of launching the app. Furthermore, 60 per cent of newly signed-up users make at least one transaction in the first month, and 50 per cent move from onboarding to deeper engagement in an average of 7 days. On average, travel app users launch their app eight times a month, and 9 per cent of newly signed-up users complete more than one transaction in the first week. The average click-through rate for push notifications is 5.1 per cent for Android users and 2.6 per cent for iOS users. However, the click-through rate for in-app notifications is 25 per cent, which is five times higher than that of push notifications. Additionally, 31 per cent of users open emails sent by travel companies, and travel apps have a stickiness quotient of 16 per cent, with nearly one-fifth of MAUs consistently returning to their travel apps.
There has been a steady shift in trends fueling the sector. While it is interesting to see some of the newer trends coming up in the travel sector, it is vital to plan your trip well in advance to eliminate last-minute hurdles. Here are some tips on how to plan a trip financially well with a credit card.
According to Jacob Joseph, VP – Data Science at CleverTap, with more than a billion travel app users worldwide, brands must prioritize retention more than ever. He suggests that marketers can nudge users to complete unfulfilled transactions or re-engage with the app by providing small reminders. To maximize customer lifetime value, marketers need to identify weak spots and be agile in proactively improving the app’s metrics. The benchmark report covers billions of data points, including push notifications, emails, and in-app notifications, providing marketers with a holistic view of the industry. CleverTap’s world-leading platform spans the entire customer lifetime, giving marketers the right tools to raise the bar even higher.
