You have a business, an app and perspective? Now how to keep your business running successfully?
The key answer to this question lies in the most important app metrics for your mobile app business, or KPIs – key performance indicators.
Can the number of downloads be considered as a KPI? A big number of users who downloaded an app can be an important key metric for an app provider but it is not necessarily an actual indicator of success.
You should keep in mind that an app is not supposed to be an app version of a website. Therefore it should be appealing to a user and contain exciting features and value that he will stick to. Furthermore, an app should have something unique and important that cannot be found elsewhere. Getting a user be loyal to an app and subsequently to the brand will result in overall success of your business.
Each business should set specific goals for its app which will define what metrics are most relevant to those goals. A precise picture of what a business success would look like is bound to enable app providers thoroughly analyze the most important metrics data.
Here are some of the KPI that you need to pay attention to.
Retention rate
Sad but true, it is estimated that 65% of people stop using an app three months after they installed it on their device. Even if your app is a boom in the world of mobile apps and its popularity keeps boosting, life is not fair and things may change. Put longevity in your list of goals and strive for it. Tons of newly developed applications and information flow are pretty challenging to compete with and your job is to keep the product hot and on top. Retention rate metrics seem to be a good indicator of the brand quality as well as engagement. Keep in mind that rankings of the top apps appearing in app store charts are now becoming more sophisticated and are based on retention and engagement metrics.
Average revenue per user
Let’s say, you managed to develop a nice engagement pattern and your app is catching attention. After all, the reason why you did it is probably to get revenue in some way. The metric you should consider is an average revenue per user which indicates the value of a separate individual to you app business. However there are different channels a user may apply to in order to shop. Your job is to track overall spend and look at the whole picture all together when determining the ARPU.
User experience/happiness
Metrics show that users spend time using your app. Nice. But, are they actually enjoying it or simply trying to figure where the right button is hiding and the page they are looking for is? It is pretty doubtful that this process can bring joy and happiness into the hearts of your valuable clients.
Want to make your users happy and satisfied with your app? Get feedback! Tools like Helpshift and in-app messaging are created to get you some information from users about bugs, crashes and UI which will help you enhance and improve the user experience.
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