How Much Does It Cost To Market An App In 2023?

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Summary - 2023 is here and the app market is projected to grow more than ever, especially with the boosting popularity of technologies like AI and metaverse. So, if you are planning to launch an app in such a massively competitive market then you need the right strategy and budget to promote it. In this blog, we are helping you to figure out how much it might cost to promote the app in 2023.


How Much Does It Cost To Market An App In 2023?

Across the globe, millions of mobile apps are existing that serve different purposes- whether to order food or to book a doctor's appointment, nowadays users have hundreds of options for each segment. A Statista report says, by the third quarter of 2022, Android users had over 3.55 million apps on the Google Play Store to choose from making it the largest mobile app store ever. In the second position, the Apple App Store had 1.6 million mobile apps for iOS users. So, you can imagine the size of the massive competition that exists in the industry. 

Now, to float in this competition and to ensure that the app grows and generates a return on investments (ROIs), most app developers plan their app marketing costs while they plan the overall mobile app development costs initially. But if you are planning to market your already built app, we will help you in figuring out the tentative cost to market your app that you might have to bear in 2023. So, stay with us until the end of this blog so we can help you with some amazing insights.


Factors influencing your app marketing costs

To calculate your tentative app marketing budget, you need to be sure of the factors that influence it. We are listing down some of the main factors that will influence your overall cost of marketing the app.


1. What is the ultimate goal?

Before you prepare a market budget, you need to figure out the goal of marketing your app. If you are only planning to increase the number of app installations, your marketing strategy will be different. If your goal is to increase the number of app subscriptions, your marketing strategy will be different. So, figure out the goal for an effective app marketing budget planning. 


2. Targeted platforms for marketing

Now, your choice of platforms to market the app will depend on what your users use often. For example, for the target group that uses social media channels more, you will have various options such as investing in social media ads, partnering with affiliate marketing agencies to run ads, using influencer marketing strategies, etc. For a crowd that is not too much of tech-savvy, you might have to be dependent on traditional ways of marketing your app like billboards.


3. Cost of hiring a marketing agency

The cost to partner with a marketing agency can vary depending on several factors such as the experience level, location, number of employees required for your project, the goal of your app marketing activities, etc. There are several ways to reduce these app-related costs such as -

- Partner with an app marketing company from cheaper markets. For example, the Indian market is cheaper compared to the US market

- Optimize your app marketing strategy so it requires fewer team members to work on it

- Compare different agencies and their final quotes before shaking hands with one

- If your app has not been built yet, try to get app marketing services that come with app development packages to reduce costs effectively


Ways to promote the app

We discussed the top-three factors that influence the overall costs of marketing the app. However, it is crucial to understand what ways are there to market apps that most app marketing agencies prefer and charge for.


1. App Store Optimization (ASO)

Another major cost will include ASO. ASO is used to push your app among the top options ranking on search engines of app stores. Now, the cost can vary if you are partnering with an agency that will provide you with ASO services as a part of its app marketing packages or if you choose to partner with an independent expert. Depending on some other factors like the experience of the marketing partner you hire and other costs involved in the ASO process, your budget can go from $1,000 to $20,000 for each app.


2. Influencer marketing

As mentioned above, influencer marketing is a popular strategy involved in the app marketing process. Here, app marketers hire influencers popular on social media platforms like YouTube, Facebook, Instagram, and more to take their help in promoting apps. These influencers use their audience base to display the ad of your app and charge you or app marketers for the same. The cost of hiring influencers can vary depending on how popular they are.


3. Search Engine Optimization (SEO)

SEO is done to promote the app by making and promoting a dedicated website on search engines. The activity involves using various on-page and off-page SEO strategies to try to push the webpage among top results on search engines like Google, Bing, and more. Guest Posting is also a crucial part of an SEO strategy which involves promoting a link to your app on other popular websites by using these links in the content published on these third-party websites.


4. Referral marketing

Another top marketing strategy for promoting your app is referral marketing. This marketing strategy requires you to reward the user that brings new users to your app. These rewards can be coupons, discounts, cashback, etc. In short, it can be one of the cheapest ways to promote your app, and more often it does not cost app owners even a penny.


Conclusion - Tentative app marketing cost

Well, these were some of the factors and strategies that influence the cost of marketing the app. Now, to get the exact app marketing cost, you have to figure out your goals and how much money you want to spend on each installation of the app. You can project the cost to maintain an app by analyzing the market and other companies but the exact cost of marketing can go as massive as you want and can afford. But projecting how many installations you want and how much money you want to spend on each installation can help you in shorting out a budget. 

For a better understanding, this formula by BuildFire can be helpful in figuring out the Cost Per Installation. To get this cost, you need to divide the total ad spend you can afford by the number of installations you are targeting. Accordingly, you can include marketing tools and start with the marketing activities for your app.

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