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sifatahmed
Jan 13, 2022
In Welcome to the Forum
If you’re overwhelmed by mobile app metrics, you’re not alone. What’s the best way to track app performance? How do I know if I’m interpreting mobile analytics metrics correctly? Which metrics will actually help me improve long-term app engagement and retention? All the data in the world won’t help you grow your mobile app unless you know how to interpret and apply it. The good news? Mobile ROI doesn’t have to be complicated. With the right mobile app metrics in place, identifying problems and solutions can be painless. Acquisition Engagement Activation Conversion Retention Churn 1. User Acquisition Metrics You can’t grow your mobile app if you don’t win over new users — and you can’t win over new users if you don’t understand where current users come from. That means tracking downloads and attributing them to specific acquisition channels. Let’s say $5,000 on Google AdWords nets you 125 downloads over 3 weeks. But the same investment on the Google Play Store gets 10x that in 3 days. Daily download and attribution tracking shows you where to invest your marketing resources so you can meet lofty download goals in record time. Key User Acquisition Metrics to Track: New Downloads – # of new downloads (daily, weekly, or monthly). Download Attribution – Which channels are new users coming from? Use this data to optimize marketing spend and improve ROI/customer LTV. Cost Per Install – Total Ad Spend / # of New Installs Counted by Advertiser’s Server User Acquisition Strategies Convert Web Visitors into Mobile Users. Encourage web visitors to download your app by adding a “Download the App” button and offering incentives like loyalty points or a discount on their first in-app purchase. Launch a Referral Program. According to a study conducted by Nielsen,1 92% of people trust referrals from friends. By incentivizing current users to recommend it, you can rapidly expand your user base and provide powerful social proof to prospective users. Companies like Airbnb and Uber turn mutual incentives into powerful customer acquisition engines. Airbnb Uber Images: Airbnb, Uber Effective App Store Optimization. Higher Colombia Phone Numbers List search rankings mean better chances of getting featured, better visibility, and more downloads. Include search keywords in your listing’s main title, spotlight your app’s main features and benefits in the app description, add eye-catching screenshots of the UI, and include the version and date of last update. Users are more likely to download an app that’s actively maintained and adding new features. 2. User Activation Metrics If your activation rate is 85% or above, you’re in great shape. Anything lower calls for a deeper analysis to identify and fix activation issues. Rule out: Typos – With tensions surrounding malware and identity theft running high, users question an app’s authenticity if they encounter typos. Confusing icon – Think Soundcloud: just from the name and icon, you can tell it’s a music streaming app. Requiring lengthy registrations – Unless it’s absolutely necessary, let users poke around a bit before creating an account — or at least limit the process to basic contact info. Activation Rate If we had 300 activations and 500 downloads this week, our activation rate would be 60%. Not too shabby, but room for improvement. Key User Activation Metrics to Track Activation Rate – # of Activations / # of Downloads x 100 Download to Launch Rate – # of First-Time Launches / # of New Downloads Install to Registration Rate – # of New Registrations / # of Installs Average Cost Per Registration – Total Ad Spend / # of New Registrations User Activation Strategies Create onboarding materials. Send an email or push notification campaign highlighting your app’s main benefits or key features. Incentivize activation. To boost its Kindle app user base, Amazon offered existing customers a $5 credit for signing in to the Kindle app. Kindle app Image: Amazon Offer in-app exclusives. This could include specialized content or early access to new features and products. 3. User Retention Metrics Improving retention rates by 5% can boost your profitability 25 – 95%.2 But keeping mobile app users engaged isn’t easy. The average app loses over 77% of its daily active users (DAUs) within 3 days after install. So how can you keep users coming back to your app? Get actionable user data by tracking retention cohorts. Instead of lumping all your users into one bucket, breaking them into cohorts and tracking their behavior over time can give you valuable insights into onboarding flows, user experience, and product/market fit. Customer Lifetime Value This is the monetary value a customer has netted you to date. This data can help you build tiered loyalty programs to retain your most valuable customers. To ensure your app stays profitable, LTV needs to eventually exceed Cost Per Acquisition. For an easy way to calculate LTV or CLTV, use our Customer Lifetime Value Calculator.
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