Only 42% of Travel App Users Make Transactions in First Month: CleverTap Report

CleverTap’s benchmark report reveals that while 80% of travel app users sign up within seconds, only 42% make a transaction in the first month, highlighting the need for improved retention strategies.

Positive Commentary: Travel Apps Can Boost Conversions and Improve User Engagement

In the rapidly evolving mobile apps landscape, travel app marketers face the challenge of converting newly signed-up users into active and engaged customers. The recent CleverTap Benchmark Report sheds light on the conversion rates and user behavior within the travel app industry, offering valuable insights and strategies to overcome these challenges.

One of the key findings from the report is that while 80% of travel app users sign up within the first 31 seconds, only 42% of them make a transaction within the first month. This lower conversion rate compared to other industry sectors, such as fintech and foodtech, highlights the need for travel app marketers to focus on retention strategies and providing meaningful value to customers.

The report’s analysis of billions of data points, including push notifications, emails, and in-app messages, showcases the potential for travel app marketers to enhance conversion rates and improve user engagement. By understanding the average time to sign up, session frequency, and average click-through rates for push and in-app notifications, marketers can tailor their strategies to effectively reach and retain users.

Moreover, the report emphasizes the importance of personalized and optimized consumer touchpoints. By utilizing CleverTap’s all-in-one customer engagement platform, travel app marketers have access to audience analytics, deep-segmentation, multi-channel engagement, product recommendations, and automation. This comprehensive platform enables marketers to leverage data-driven insights to personalize and optimize their interactions with customers, ultimately driving higher engagement, retention, and lifetime value.

By actively identifying weak spots within their app’s metrics and employing agile strategies, travel app marketers can maximize customer lifetime value in the long term. The report’s findings serve as a valuable resource for marketers, equipping them with the tools and knowledge to raise the bar and stay ahead of the competition.

CleverTap’s commitment to providing a holistic view of the industry through their benchmark report reflects their dedication to helping travel app marketers succeed. With a renowned customer base that includes top brands like Electronic Arts, TED, and AirAsia, CleverTap’s expertise and platform capabilities make them a trusted partner for optimizing user engagement and retention.

In conclusion, the CleverTap Benchmark Report for travel apps highlights the immense potential for boosting conversions and improving user engagement. With a positive bias, travel app marketers can leverage the report’s valuable insights and CleverTap’s all-in-one engagement platform to tailor their strategies and provide exceptional value to their customers. By adopting data-driven approaches and focusing on retention, travel app marketers can create a positive user experience that drives long-term success in this rapidly evolving industry.

Only 42% of newly signed up travel app users transact in the first month: CleverTap Benchmark Report

CleverTap, the all-in-one engagement platform, released its industry benchmark report for travel apps. In the rapidly evolving mobile apps landscape, staying ahead of the competition is crucial for marketers. Therefore, benchmarking performance has become imperative to stay ahead of competition. Travel app marketers will be able to boost conversions and drive higher app activity through the report’s insights.

While 80% of travel app users that sign up, do so within 31 seconds, only 42% make a transaction within the first month. This is markedly lower than fintech’s 95% and foodtech’s 65% signup to conversion rate. Studies have found that users do not see travel apps as being very different from interacting with travel agents. This means that while they may readily sign up for an app; the process of making a transaction may carry the same reservations as with old-school travel agents. Overcoming this challenge requires travel app marketers to place special emphasis on their retention strategies by going above and beyond in providing meaningful value to customers.

CleverTap analyzed 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 findings reflect data collected from Asia-Pacific, Europe, India, Latin America, Middle-East, and North America. These include:

• Install to sign-up rate: 1 in 4 users that install travel apps (28%) end up signing up within the first week.
• Average time to sign-up: 80% of the users that sign-up, do so within 31 seconds of launching the app for the first time.
• Sign-up to conversion rate: 42% of newly signed-up users make a transaction in the first month.
• Average time to to convert: 36% of newly signed-up users move from onboarding to deeper-in-the-funnel engagement within a week of onboarding.
• Session frequency: On average, travel app users launch their app around 12 times a month.
• Average week 1 retention rate: 13% of newly signed-up users make repeat transactions in the first week.
• Average click through rate for push notifications: On average, 5.29% of Android users and 3.97% of iOS users will click on and interact with push notifications.
• Average click through rate for in-app notifications: The click through rate for travel in-app notifications is 22.8%.
• Average email open rate: 35.17% users open emails sent by travel app companies.
• Average Stickiness Quotient: Travel apps have a stickiness quotient of 18%, that indicates less than one-fifth of monthly active users (MAUs) consistently return to the app.

“With more than a billion travel app users today, brands must emphasize retention more than ever. Sometimes a slight nudge here, a small reminder there may be enough to get users to complete unfulfilled transactions or re-engage with the app. But to maximize customer lifetime value in the long term, marketers need to be agile and identify weak spots within the app’s metrics proactively.” said Jacob Joseph, VP – Data Science, CleverTap. “Our benchmark report spans billions of data points including push notifications, emails and in-app notifications – giving marketers a holistic view of the industry. Coupled with our world leading platform which spans the entire lifetime of a customer, we are confident this will equip marketers with the right tools to raise the bar even higher.”