In today’s saturated app market, the pressing question is, how you measure the success of your app. Considering that more than 90% of the apps are deleted right after first use, number of downloads definitely isn’t a reflection of success. User engagement might be a comparatively better metric but does it really matter how engaged your users are, unless you realise substantial revenues from them. The thing with measuring the app’s success is that one-size-fits-all doesn’t work here.
Every app is different, and so is its audience. For a gaming app, in-app purchase is what matters the most; for a retail app, it’s simply the app revenue; for a music app, it might be the session length. Here are three broad categories of app metrics that can help you track your app’s success.
1. Acquisition Metrics
Acquisition metrics are not simply about keeping a track of the number of downloads. Download is important but it can never be a stand-alone indicator. Rather, it’s knowing which channels bring in more users, or better yet, which channels bring in the most valuable users. The key acquisition metrics are number of installs, new users and active users.
2. Engagement Metrics
Through advanced screen flow analytics, it’s possible to keep a track of every single click your user takes in your app. Knowing the navigational patterns of your users will help you pin-point the exact flaws in your app and make tweaks to get those right! The key engagement metrics include app retention rate, session length, session interval and a lot more.
3. Conversion Metrics
Most people think, conversion is all about turning engaged users into paying customers. It’s not. It can be anything. It can be making the users click on ‘allow’ button in push notification prompts or take the desired call-to-action in a native ad. The key conversion metrics are in-app purchases, app revenues and third party ad revenues.
Apart from these, you should also consider measuring LTV (Lifetime Value) of your app users. Lifetime Value is perhaps the best measure of evaluating how successful an app is. Simply put, it shows the revenue generated by each user right from the moment he/she downloads the app to the moment he/she uninstalls it. In a way, it also reflects the financial value of an app.
Many mobile marketers think that positive feedback (or even the negative one) is the greatest testimony to an app’s performance. It’s not! Here’s why – Only two kinds of users care to leave reviews on the app store. First, those who’ve an exceptionally good experience; second, those who’ve an exceptionally bad one! All in all, you cannot really count on either kind, to assess your app’s performance in its true sense. To make the most of app analytics, make your own app on an online app builder that comes loaded with powerful real-time analytic tools.