App marketers expect their budgets to increase, against a backdrop of optimism in the app economy, according to an App Annie survey.
The study, which surveyed product managers, marketers and senior executives from more than a dozen industries, found 63 per cent of respondents expect marketing budgets to increase, including 23 per cent who were expecting a substantial rise.
Conversely, only 5 per cent of those surveyed expect marketing budgets for apps to decrease.
The App Annie study of 800 app marketers found 65 per cent of respondents believe there is an upward trend in the market overall. In June, the company forecast the global app economy will reach $6.3 trillion by 2021.
Publishers of video, shopping and retail, communication and messaging apps were most bullish, with more than 70 per cent of respondents expecting their budgets to increase.
In the report, App Annie stated: “Given the overall growth and intense competition in the app market, it’s no surprise that marketing budgets were expected to increase.”
“It’s critical for marketers to clearly identify their goals in order to determine how best to allocate these dollars.”
Acquiring new users was ranked top priority across the board, supported by more than 80 per cent of respondents. But there were some differences when it came to second place.
Retaining and re-engaging current users was the second priority for video, social and health and fitness applications. However, gaming, music, retail, maps, navigation and productivity apps went a different route, ranking improved customer engagement as their second choice.
Other goals include driving new revenue streams, improving branding, supporting and promoting a company’s other mobile apps and reducing costs from other channels.