ASO Audit

Venmo ASO Audit Report

Buse Kanal

3 July 2024

Venmo iOS App

Venmo is among the mobile payments in app stores today. With over a million people downloading the app, Venmo has enjoyed a relatively high ranking in the App Store. In fact, Venmo, by the time of this writing, is rated to be the #3 app in the Finance category based in the USA.

While Venmo has already accomplished things that other mobile payment apps haven’t achieved, there is still a way to maximize their app store visibility and increase their chance of getting noticed.

After all, the biggest room is the room for improvement. No matter how great Venmo might already be, they can still do something to reach the number 1 spot and not be overtaken by competitors.

In this ASO audit, let’s take a look at how Venmo can improve its keyword ranking in the most efficient way possible.

Venmo Keyword research

We did a quick keyword research for Venmo based in the USA. We have shared the details at the end of this post.

Looking at the research result, we can see that we are already ranking for some important keywords. Nevertheless, we have identified some great opportunities for us to take advantage of.

In this situation, ASO intelligence tools come in handy. These tools are effective in identifying popular keywords with the lowest competition. For example, in ShyftUp, we use Mobile Action to perform reliable keyword research.

Among the results we get is the term Search Score. Here’s a quick overview:

The Search Score ranges from 5 to 100. The score represents the number of users who are searching for a specific keyword compared to other keyword options in the App Store and Google Play.

For example, one of the keywords with the highest ranking is the keyword “Facebook.” It has a search score of 100.

The lowest score is 5, which means no one is virtually searching for that keyword. Most keywords will never even see a score beyond 5.

Going back to the results that we got, here’s how Venmo’s ranking looks like:

“Crypto” keyword has a search score of 53, which we rank at no. 59.
“Credit card” keyword has a search score of 44, which we rank at no. 35.
“Gift cards” keyword has a search score of 42, which we rank at no. 147.
“Send” keyword has a search score of 39, which we rank at no. 87.
“Invest” keyword has a search score of 38, which we rank at no. 179.
“Paycheck” keyword has a search score of 35, which we rank at no. 125.
“Digital wallet” keyword has a search score of 33, which we don’t rank.
“Cash back” keyword has a search score of 33, which we don’t rank.
“Earn” keyword has a search score of 32, which we rank at no. 174.
“Get paid” keyword has a search score of 30, which we don’t rank.
“Track spending” keyword has a search score of 24, which we don’t rank.
“Split bill” keyword has a search score of 20, which we rank at no. 49.
“Manage money” keyword has a search score of 17, which we don’t rank.

We also did research on competitor keywords. We got the following results:

“Remitly” keyword has a search score of 64, which we don’t rank.

“Western Union” keyword has a search score of 63, which we rank at no. 16.
“Moneygram” keyword has a search score of 57, which we rank at no. 14.
“Xoom” keyword has a search score of 51, which we rank at no. 22.
“Worldremit” keyword has a search score of 38, which we don’t rank.
“Transferwise” keyword has a search score of 35, which we rank at no. 14.
“Ria” keyword has a search score of 43, which we don’t rank.

The results show us that there is a lot of work to do. To ensure that we climb up the rankings, we should use these keywords in our metadata.

Title

The title of Venmo in the App Store is this:

Venmo

Take note that the App Store allows us to use up to 30 characters for the title. As of now, Venmo is using 5 characters. In the app store, every character counts, and it should be maximized as much as possible

Looking at the search scores of the keywords included in the title, the search score of “Venmo” is 77. This keyword has a high search score. However there is excellent opportunity for improvement.

To ensure we stay competitive, we must test the title and its keywords continuously. One way to improve the title is to go to the keyword pool. From there, we should continuously check how many keywords we are ranking for that are in the title.

In this case, we can try a new title like:

Venmo: Mobile, Digital Payment

As you can see, we have added the words “mobile”, “digital” & “payment”. This is a great move in terms of keyword ranking for the following reasons:

The term “mobile” has a high search score of 45.
The term “digital” has a high search score of 28.
The term “payment” has a high search score of 31.
By adding the term “mobile” we can potentially rank for longer search terms such as “mobile pay” & “mobile money”. Both have good ranking scores, which are 29 & 24, respectively.
By adding the term “digital” we can potentially rank for longer search terms such as “digital wallet” with a good ranking score of 33.
By adding the term “payment” we can potentially rank for longer search terms such as “payment app” with a good ranking score of 36.

All these changes to the title can potentially improve keyword ranking. However, please note that there are other combinations and possibilities when it comes to using keywords.

That’s the reason you need to constantly test these keywords. You should check your keyword ranking every week and see if the changes in your title bring better results.

Subtitle

The subtitle of Venmo in the App Store is this:

Send Money, Pay & Earn Rewards

Like the title, Apple allows us to use up to 30 characters in the subtitle. As of now, Venmo uses 30 characters.

Looking at the search scores of the keywords included in the subtitle, the search score of “send” is 39, “money” is 56, “pay” is 47, “earn” is 32 and “rewards” is 43. As you can see, all keywords have high search scores, and we can conclude that Venmo has quite a strong subtitle.

Even though, if we would like to test a new variation, the subtitle can be changed to:

Send, Pay, Transfer Money

As you can see, we have added the words “transfer” and excluded the words “earn” & “rewards”. This is a great move in terms of keyword ranking for the following reasons:

The term “transfer” has a high search score of 38.
By adding the term “transfer” we can potentially rank for longer search terms such as “money transfer” & “transfer money”. Both have good ranking scores, which are 37 & 22, respectively.

To ensure we stay competitive, we must test the subtitle and its keywords continuously. One way to improve the subtitle is to go to the keyword pool. From there, we should continuously check how many keywords that are in the subtitle. For instance, we should check the keyword “transfer money” in our keyword pool.

After starting to use the “transfer money” keyword, do we start ranking higher for these keywords? Do we start ranking for more keywords that include “transfer money”? If the keywords are not improving our ranking, then we should test other keywords and their variations.

Ratings

Venmo Ratings

Looking at the ratings, we can see a lot of things to improve here. Take note that Venmo, at the time of this writing, has an average rating of 4.9 stars from more than 15.4M users.

Let’s compare that to their competitors:

Cash App – 4.8 stars from 6.5M users
Apple Wallet– 4.8 stars from 890.4K users

We do need to improve app features and overall user experience to raise the ratings up and get more positive reviews.

Screenshots

Screenshots can either make or break your app. If you use the wrong screenshots, you’ll surely chase away users. Use the right screenshots, and you’ll attract more users.

As we take a look at Venmo’s screenshots, we can see that they have chosen great images. However, Venmo can use more value-oriented headlines on the screenshots. It is super important to choose screenshots that show the value, features, and reasons why users should use your app. Here are some of our feedback for Venmo:

Readability: The font size and style is adequate with background color. Headlines make grammatical sense. Different font styles can be A/B tested.
Headline strength: The current messaging is strong. However, different messaging can be A/B tested.
Social proof: Testimonials, media coverage, # of downloads, etc. could be showcased.
Cover Screen & Mobile Payment Images: A new cover screen can be created with Mobile Payment images.
Video (App Preview): A preview video that shows “pay and request money” through the app’s functions could be added to the first slot.

The App Store allows us to use up to 10 screenshots. However, these screenshots don’t have equal exposure. As you may already know, potential users will initially see the first three screenshots. They need to open your page to see the rest of the screenshots.

With this in mind, you need to choose the best screenshots and place them on the first three screenshot slots.

To determine which screenshots give you the best result, A/B testing and Apple’s Product Page Optimization (PPO) are always the best way to go.

Venmo Screenshots

Here are a few more things to consider:

Apple indexes the title, subtitle, and keyword list to determine app rankings in the App Store.
The app title, which can be composed of up to 30 characters, is considered to be the most important ranking factor. Thus, you should add the most crucial keyword to your title. When you do that, you’ll most likely get a higher ranking for that keyword.
Next to the app title is the subtitle in terms of importance for indexing. Thus, other more vital keywords should be added to your subtitle. Add as many relevant and high-ranking keywords as possible to ensure you increase your ranking. Moreover, if possible, maximize the 30 character-limit for the subtitle.
The keyword list is considered to be the number 3 most important ranking factor in the App Store. You are allowed to use a maximum of 100 characters. You need to add all the keywords that you believe are relevant to your app. You can even include brand names and competitors’ keywords. You have more flexibility to include whatever you see fit based on your keyword research. After all, users won’t be able to see this list. Only you, as the admin, can see them via the App Store Connect. But it affects your visibility significantly.