This is the final segment in our App Optimization series. In Part 3 we discussed Conversion Rate Optimization it. We also talked about why you need to test the effectiveness of your app’s design elements regularly.
Today we’re going to take a closer look at your app’s key performance indicators. These are metrics you need to monitor carefully and improve constantly.
Step 4: Scaling the Analytics
Analytics are very important. They provide crucial data that tells you about the performance of your app. If you know how to set up, interpret and present your analytics data in a simplified format with actionable steps to rectify any issues, you are part of the top 1% of app developers. You are well equipped to have a very successful app portfolio.
You need to track your app’s performance all the time. We’ll discuss exactly what you need to be looking at and how you can tweak your app in order to get the best results. This is your best chance to spur your app’s growth after launching.
Below is a list of selected key performance indicators and metrics to which you need to pay particular attention. You can use a combination of or all of them to calculate the risks and hopefully ensure your app’s success.
You need downloads. This is why you are doing all this.This is why you want your app to be on the top in the Play Store. Keep a record of the number of downloads you get each week from launch. This is data is crucial as you will need to compare it with the other metrics.
Registrations and Subscriptions
The moment a user keys their personal information if you have a registration system, it means your app is trustworthy. Trust is a big factor in app success. Spammy (ads and popups all over), and questionable looking apps may not be easily trusted.
If you offer a subscription, you have to keep an eye on the number of sign-ups and unsubscribes, duration of and length of sign-up once the user installs the app. This data can show you how to better improve your user experience. Figure out why the trends are what they are.
Monitor the number of installs, device distribution, and demographics. You also have to follow the number of uninstalls, especially those that occur after an update to your app or when you make changes to your marketing campaigns.
Address churn rate early, all the time. If your app’s retention rate is low and you have high crash rates and uninstall rates, its ranking will be affected. You must address these as soon as you notice them.
App Engagement KPIs
Whenever you track your customers, always be acquainted with why they love your app. Why do they keep on coming back? When you know what makes them continue using your app, you can capitalize on it.
Daily, Weekly and Monthly Active Users (DAU, WAU & MAU)
These stats affect your profitability if you are monetizing with ad networks. Improving your daily, weekly and monthly active user numbers is important. If your downloads are high but your DAU, WAU and MAU are low, you still have work to do.
App Open Rate or AOR
This also affects your profits. AOR is the number of times that a user opens your app. Use this data to calculate your DAU, WAU, and MAU. Take note of the times at which users engage with your app. You can come up with some creative promotions and target them to go live at those times.
Session Dimensions (Length, Interval and Depth)
How much time are users spending on your app? What type of activities are popular with your users? You need to be careful here. Some privacy laws do limit what and how much data you can collect from your users. You may need to make some disclosures. Research this carefully before implementing.
Brand Awareness/Social Media Shares
Is your app getting raves in social media? What’s your estimated reach? What are people saying about your app? Are people sharing links to your app? Social media is the fasted way to know exactly what people think about your app. Don’t close your eyes and ears. Look for all the post that mention your app. There’s often great advice in the myriad of social feedback.
App Revenue KPIs
Average Revenue Per User (ARPU)
This is important when you want to make a valuation for your app. ARPU is the average value of in-app purchases and other app monetization activities such as paid downloads, clicks or ad impressions, subscriptions, etc. per user. To get this figure, you get the total revenue and divide it by the number of users you have.
Customer Lifetime Value
This is based on the net value accumulated over time by your users. A high CLV means you have a very profitable app.
Other Kinds of KPIs to Consider
User Experience KPI
How fast does your app load? How much data does it consume when open?All these small things affect your users’ experience when using your app. They affect all other metrics.
Another thing is to monitor performance per device type, carrier and OS. You have to know how these affect the overall experience of your users.
Mobile App Marketing KPI
You need to know how your users knew about your app. Is it from paid ads, email links, social media posts, word of mouth or other means? This will help you decide on what marketing approach works best for you and which ones are a waste of resources.
Demographics and Geometrics
You must know who are your target users. Note location, age, gender and niche affinity. With this information, you can correctly direct your marketing efforts and ensure you are communicating to the right audience.
Well, we’re now at the end. This is not an exhaustive guide. There are more things that we could have covered but for a basic app, these should be enough to get your going. I hope that this series has empowered you with information that will help you create and promote your app the right way.
Always remember that the industry is constantly changing so keep reading and learning to stay ahead of the game. Good luck!