key app metrics are performance standards or indicators of how responsive your app is doing post-launch. Mobile apps do face or encounter several challenges and performance appraisal or evaluation to understand the overall impact on the market.
What are the Key App Metrics?
Every app
has performance-based standards it is evaluated upon to gauge its relative
performance. Therefore, key app metrics (vital and important) are app
performance benchmarks or standards to know whether the app meets the purpose
it was developed for or not.
As we know Mobile App Development strives for progressive and dynamic innovation that never stops at past breakthroughs. It seeks new frontiers to challenge past achievement. Then how well is your mobile app performing in the market post-launch? Are there any critical areas to address or is it smooth sailing thus far? These are some of the basic and essential app engagement and profitability key metrics to find out about your app's performance.
Key App Metrics to Track Your Mobile App
1. Engagement Metric.
Engagement
metric is applicable when users realize the actual value of your mobile app.
Measuring the engagement actions of users brings into clear perspective the
real value of your app to users. Engagement in user terms is responding or
performing key engagement actions that show good user engagement. Knowing the
success ratio of your mobile app is a key part of your business growth. It is
always about the number of active app users who add business value daily.
Engagement metric helps know user experience while on the app.
2. Retention Rate Metric
Although engagement is critical, retention goes a step further to measure and know the app retention rate, the number of users who have stayed on the app continuously. This essentially is the number of active users at any one time who have continued on a sustained basis used the app. Why is this so important? Though most apps have a set number of daily active users (DAU), a higher retention rate means sustained growth in the app users who keep coming back to the app for various reasons or uses. Retention rate calculation or measurement is a continuous process driven by the necessity to gauge growth on a sustained basis.
3. Churn Rate Metric
The churn metric is the total number of users who have stopped or quit using your app. The churn rate metric is quite important if the app leaving or quitting users are high-value users than low-value users. It is obvious app developers, as well as businesses, have an app demographic usage mapping that aspires to bring in the most profitable or valuable app usage demographic. High-value users mean repeated/consistent users whose app actions contribute to the productivity bottom line. Low-value users are users whose app usage actions don’t impact the productivity bottom lines. Nevertheless, losing new users implies lost opportunities and chances
4. Daily App Users and Monthly App Users Metric
User app download doesn't imply the use of the app. Daily App User reveals how valuable the app is to those who have installed it. It shows the number of times, averagely, a user open and engages with your app daily. A higher number of sessions is great especially for social media apps doesn't measure success accurately for other apps.
Monthly
Active Users (MAU) metric works on the same parameters as the Daily Active
Users (DAU) but a longer assessment period, precisely 30-days. Monthly Active
Users reveals the retained number of users of your app over a month.
5. Installations, Uninstallations and Downloads Metric
The frequency of the app downloads to devices helps track app popularity among users. App downloads tracking is a key performance metric as the foundation. However, app downloads don’t indicate the completion of the apps setup process. That's why it is critical to follow the actual complete installations on the various devices that your users are using. Besides, it is often possible and common for a user to opt for uninstallation of your app for several reasons. But the catch is there is always no feedback or reason as to why they do so.
6. Session Interval and Length Metric
Sessions are a critical part of determining the key performance metrics of an app. Session length is length or duration of time a user spends on your app before turning closing it. In other words, the length of time given to each app session use. App sessions help earn extra revenue by knowing the best time to incentivize app users with a specific certain call to action (CTA). On the other hand session interval is the length of time between a user’s first session and the next one. This shows the regularity each user opens and uses your app. It also reveals to you whether the app is used regularly or not. These insights help explore and know what can boost user engagement.
7. App Crash Metrics
Apps can have crashes or timeouts due to several factors. Tracking your app crashes per user is critical at it helps you trace various dynamics and usage patterns like names, methods, as well as the true numbers. It helps you to know the technical barriers affecting user experience. There are severe tools adaptable in tracking app crashes.
8. App Store Ratings Metric
App store ratings and reviews give a deeper insight into what your app promises and delivers. Users can tell of what they think of your app through reviews as well as the public. App stores deliver the best platforms to gauge as well as showcase varying user reviews. Poor ratings are dampeners in the app store rankings.
Negative reviews and ratings are not helpful either for your app. That is why collecting user feedback in the testing phase to know what's faulty as well as optimizing the UI and UX are critical. Staying in direct touch with users helps in collecting valuable feedback that helps refine your app.
9. Cost Per Acquisition (CPA) Metric
Cost per acquisition helps analyze how much is to be spent to get active or paying users. Acquisition cost includes many parameters like ads expenditure, public relations, customer support, legal requirements, technology costs like support architecture and infrastructure, etc. With this in place, it is possible to calculate the cost per acquisition by the division of the total cost of a campaign by the number of acquisitions made.
What does your mobile app present you and your users in terms of lifetime value app usage? Lifetime value (LTV) metric is the total revenue earned from a user before stopping using your app. This app metric takes into account the cost per acquisition. Therefore, if the cost of acquisition is higher than the lifetime value of each user, the app incurs a loss. The most productive approach to increase the LTV of each user is through knowing the exact your target audience' needs. Positive and responsive customer services help create a great user experience.
Summary
For a Mobile App Development company or business, these key mobile app metrics can help to build an informed and data-based business decision whether the app is a success or not.
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