Announced in June of this year, first ads started cropping up in search results on the App Store beginning October 5. Aside from a few launch hiccups, App Store search advertisements seem to be performing pretty well in their early days.
A new study by mobile data intelligence firm Mobile Action—based on a random and anonymous sampling of 77 Search Ads campaigns—has determined that the average Conversion Rate (CR) is 49.4 percent while Cost Per Acquisition (CPA) sits around $0.40.
Search Ads, the survey concludes, is “the biggest opportunity in app marketing right now.”