Case Study: How A Finance App Boost 270% App Downloads Within 30 Days?

With the increasing use and reliance on mobile devices, we are entering the digital era. As a result, people are willing to spend more and more money on mobile apps because they rely on them for nearly every daily task, including financial management.

In addition to increased app usage, technology is advancing, with more apps than ever before utilizing internet of things (IoT) and artificial intelligence (AI) technologies. This industry has also successfully transitioned into the digital age, thanks to the development of banking and financing apps.

The total revenue in the mobile app market is expected to reach $437.80 billion this year, according to Statista. Furthermore, in-app purchase (IAP) revenue is expected to reach $202.90 billion. Total revenue is expected to grow at a 6.58% annual rate, implying that the market will reach $565 billion by 2026.

Many people preferred to spend more time during the pandemic on mobile banking apps and websites to conduct transactions remotely. While the pandemic's effects have begun to fade in intensity, with changing mask mandates and other regulations as the number of vaccinated individuals increases, the pandemic did bring about some permanent changes. A greater number of mobile app users have recognized the value of using mobile solutions to accomplish a wide range of goals and complete a wide range of daily tasks, making them more likely to continue this trend in a post-pandemic environment.



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App story

Our client is a mobile application for an online intelligent financial services platform. It was founded in 2019. Its members bring together expertise in banking, investment and finance, e-commerce, and other areas. It offers a variety of project types to meet the investment and financing needs of various groups of people, as well as Internet financial data.

The app's name remains anonymous here to protect the privacy of our customers. To give you a better idea of ​​the app's story we're sharing, we show one of its competitors in this type on the Google Play Store.

App store optimization challenge

Our customer hopes to increase monthly app installs and signups since its launch in 2019. They want to nurture new users so that they will upgrade and pay for their newly launched subscription service.
To achieve the goal, of increasing app downloads, the founder team of the app entrusts a professional ASO team - ASO World to produce results through a paid user acquisition strategy.

App store optimization solution

Keyword coverage is one of the most important aspects of ASO. Keyword coverage through titles, sub-titles, and background keyword settings is also required for app optimization.


A good keyword strategy will yield twice the results with half the effort, whereas selecting the wrong word will not only fail to produce the desired results but may also result in a waste of advertising dollars.

Keywords research

App store keywords are important for ASO. Pay attention to the metrics above when optimizing app store keyword ranking if your app is one of the finance Apps. Appranking will show you them all for free.

We searched for a ''finance'' to identify a list of competitors of our customer's app with Appranking.


Then we started to analyze the keywords lists of competitors, then we can determine the keywords list of our customer's app and start to rank the keywords. Here is the keywords list of Yahoo Finance:


Based on your criteria, you can select keywords from any range. In general, the keyword search volume should be between 2000 and 8000, and the competing App's keyword data should be analyzed based on the keywords.

It is worth studying this list of keywords carefully when working on App Store Optimization Services to help you choose the best App Store keywords in Google Play or Apple App Store. Do you now understand how to find the best keywords for your app?

App store screenshots optimization

Analyzing the message behind a Finance app's screenshot galleries can help you understand its app store messaging strategy. 

Simpleness of use

About 34.3% of apps lead their app store page with a message about usability. Great. Is the app, however, simple to use for everyone?

Although the message conveyed to users via the first two screenshots has a significant impact on the likelihood that they will install, how this message is delivered and conveyed via the design style is also important (70% of users will base their decision on the first impression — the above the fold area of an app store page — where only two screenshots are visible).

When you think about it, what might irritate users who are driven by a message of "ease of use" is the sense of "superiority" that surrounds finance, combined with a strong sense that you have to be savvy to use Financial products.

Users may receive the ease of use message much more effectively if it is linked to creatives that depict actual everyday use (eating with friends or having a birthday party and splitting costs). The UI in these screenshots is simple and focuses solely on usability, demonstrating that you can send money/get started with a single click.

Our new screenshots are linked to creatives that depict actual everyday use, like eating with friends or having a birthday party and splitting costs. Users may receive the ease of use message much more effectively. The UI in these screenshots is simple and focuses solely on usability, demonstrating that you can send money/get started with a single click.



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Images of everyday life

'Lifestyle' is a design trend that is lacking in the Finance category. Given the difficulties in communicating accessibility, ease of use, and simplicity, incorporating real people into the creatives may be the key to establishing that all-important emotional connection. It can help convey the fact that this app is for everyone because they will need it at some point in their daily lives as well.

We used this creative strategy to demonstrate, not only that it's a great hypothesis to test ("showing real people using the app or enjoying its benefits will drive more users to understand it's accessible and trustworthy and install it"), but also that it's an opportunity for differentiation as users compare different apps.

Result

Following our app store optimization process, the app received over 21k new app downloads in a single month, the average user investment rate increased by 46.7% within 10 days, and the user retention rate for the following month reached 7.5%.