With every other company un-boxing new ideas to launch their mobile apps, does owning a mobile app demand the attention of your target audience? How do you think you could make a mark-able difference amongst your customer base and win their interest?
Simply launching a mobile app does not do the trick. It is how you quantify your mobile app development which matters. This is not a procedure to be done overnight but a systematic methodology to be adopted and accomplished constantly from scratch till finish. As every business is unique, the process of quantifying its respective mobile apps is also different from each other. All this requires a detailed analysis of your type of business and the metrics which matter to it. For example, in a typical ecommerce set-up, the number of visitors you are able to attract matter whereas in a B2B environment, striking the right cord with the right person matters a lot.
Having said that, let us further drill down into the several other metrics to assess the performance of your mobile apps.
The count of downloads:
There are numerous choices for your customers to choose from. You will need to identify their particular requirements and ensure you meet those needs. This is possible through your marketing and branding activities. The effectiveness of these will reflect on the average number of app downloads that has happened over a period of time. This particular metric shows your level of customer engagement and how your product/service has been prioritized in the market.
Number of users:
Tracking the total number of users who have joined the bandwagon recently makes a difference. Ensure to have a tag on the source of engagement like marketing campaigns or users in response to call to actions. Make sure to categorize your audience based on this and other intricacies like gender, geography, engagement device and so on which will help in a detailed analysis.
App users:
This number needs to be necessarily more than the number of new app users as this figure refers to recurring app users. A higher number of app users means that your customers are actually using your app for engagement rather than simply keeping idle after downloading it.
The session length:
This is an important metric as a longer session length means better engagement. This will also help in identifying the lesser engaged customers and check on the loopholes, if any.
Retention:
There are actually two aspects of retention and churn rate. Retention is customers who keep coming back to use the mobile app. By analyzing the onboarding flow of your app and making necessary modifications you could retain your customers and induce better engagement. On the other hand, churn rate is the segment of your users who do not come back. Based on a survey by Flurry data, Android and iOS have retention of just 4% thereby losing 96% of users.
The conversion rate:
Any response to your call to action is a step closer in the sales funnel. Filling up an enquiry form, completing a transaction, posting a review, asking for a service all mean better engagement and confirm your goal of prospects.
Lifetime value:
This is the revenue metric which will help you identify how well your app is monetizing. It will help you calculate the profit before a user stops using your app along with the revenue your app is capable to earn in future.
Management writer Peter Drucker rightly said-“What gets measured, gets managed”. It is therefore pivotal to measure the components of facets you will need to manage.
