It’s no secret that measuring the success of your app can help you optimize your mobile strategy. Metrics help you focus on activities that resonate most with users. In fact, closed-loop app analytics help brands acquire, engage, and retain app users, while turning a positive ROI. But do you know which mobile app metrics you should be tracking? In this post we’ll outline the key performance indicators that every app marketer should be monitoring.
Number of downloads, ratio of opt-ins
Taking a look at how many downloads you’re getting on regular basis will help you assess your user acquisition campaigns. For example, if you are using paid channels to bring in more traffic to the app stores, you’ll want to look at how these campaigns are converting.
However, smarter app marketers will go one step further by looking at push notification opt-ins. Why? This helps you get a real idea of your actual reach. Do you have a low opt-ins for push notifications? You may need to improve your app store messaging, or include a mini-tutorial upon the first app open to explain the benefits of push. Remember, push notifications are a key part of your mCRM strategy and help you turn inconsistent or lapsed users in loyal super-users.
Number of sessions, length of sessions
The number of times and duration a user opens your app are key to understanding the health of your app. Insight from Flurry suggests that the first 3 months are critical to keeping your app on a users smartphone as almost half of your peak monthly active users will delete the app by the fourth month. What can you do to prevent this? Transforming a non-user to a monthly active user, and then to into a daily user, requires a well-planned, engaging mCRM strategy. By integrating your app with a CRM tool you can set up a push notification flow like the one below:
Number of active users divided by total app installs
Understanding how many daily active users you have, or how many of last week’s users came back this week, can help you assess shortcomings in your app marketing, content and UI. Keeping a high retention rate is a sign that your app is hitting the mark with users. Low retention rate? Maybe it’s time to re-evaluate the design of your app or your content strategy. Give users more reason to keep your app on their phone by offering loyalty programs, mobile-only offers or premium content!
Minimize funnel abandonment by understanding bottlenecks within the app. If many users are not completing a desired action, like finalizing a purchase or requesting an appointment, understanding where they exit can help you focus your optimization efforts.
Ratio of app crashes to app sessions
Users have an extremely low tolerance for buggy apps – so ensure you are closely monitoring the quality of the app experience. Fixing a bug or interface issue quickly can not only help save your app from being deleted but will also help you avoid getting negative reviews, which will only hurt your future acquisition numbers!
User Lifetime Value (LTV)
The revenue a user generates over the entire time that they use your app
Understanding the value of your users can help you focus on monetization strategies to increase revenues, like cross-selling or in-app advertising, or on increasing your retention strategies to increase usage. However, the most compelling insights you’ll gain by doing a LTV analysis will be the ability to identify who the “right” users are, i.e. those users who use your app religiously and become loyal customers. With this knowledge in hand, you can revisit your acquisition strategies to target more of the same type of user, while weeding out the “wrong” ones.
Analytics can help you track the effectiveness of your user acquisition and app marketing campaigns, while access to data can help your dig deep into app user behavior which is key to accommodating customer needs. Which KPIs are you using to optimize your mobile strategy?
Image: Per Foreby