5 of the Top Metrics for Measuring App Success
How do you measure the success of a mobile app to see if it doing well or tanking? This is a question that you will need to have answers to because there is a lot that needs to be done to get the right amount of data that will allow you to make an assumption.
You need to make sure that you have incorruptible data and that it works and that is how you will be able to keep the ship afloat and steer well.
In this article, we will find out how;
- How to obtain accurate numbers that will give you a successful marketing campaign.
- How to be the leader in marketing in mobile apps and pretty much anywhere.
Think of this as the crash course on marketing and measuring success while ensuring it too.
The Marketing Talent Gap That Needs Filling
After asking 747 advertising giants and Fortune 500 Marketing Executives what skills they valued most, it was clear that there was a talent gap of about 37% in ‘Analytics’. That is a serious issue that we will address.
When you hear analytics, I don’t want you to imagine a bunch of people looking at complicated graphs and crunching numbers. That is not what this is all about. It is about:
- Running experiments in real-time to prove hypotheses.
- Determining the ways you can measure success of a campaign.
- Using systems that turn raw data into something readable.
If you think that you may be weak in this area, then you need to get hands-on and now. That is how you will make sure that you can survive in this app making jungle. Remove this from the list of weak points.
How to Measure the Success of a Mobile App
There are some 5 key ways that will enable you to do just this and they are what we are going to look at when we launch into this article. There is a need to set up systems that will allow for collection and interpretation of data.
The key ways that we have are:
- Acquisition metrics
- Engagement metrics
- Retention metrics
- Quality metrics
- Behavior metrics
As you can see, when we break these down, we get the essence which is what you need.
- Acquisition Metrics
Acquisition is broken down into two;
Let’s us start with
It is very integral that you get as many downloads as you can. There are ways to ensure that you can do this and they include being involved in;
- What channels give you most downloads.
- Where do your best users come from?
Who is a Quality User? – This is a user who will complete one or more of the actions that you want them to take when they download the app.
This is understanding where the users are finding the app that you are selling. Finding out where you need to focus your marketing dollars.
Deep tracking- this knowing where you get most of your users from and from this, you know where to focus.
Acquisition metrics are important because you will get to know where your users are coming from and how you can get more and that means more revenue in the long run.
- Engagement Metrics
Broken down into for parts that include;
- Active users– you can track how many people are using the app in real-time.
- Sessions length– you can also tell how long they have been logged into the app.
- Goals completed– this is how many steps or goals that they have taken within the app functions.
- User loyalty– this is average timespan that someone remain an active user of the application.
You can tell whether there is an increase or a decrease from this.
Engagement metric are important because you can tell whether the users are feeling the app or if it is going downhill and how you can save it.
- Retention Metrics
It is broken down into;
- Life-time value– if the retention rate is low, you have a high churn rate and hitting critical mass is becoming harder. If you want to fix this problem. You need to;
-increase the revenue per user.
-increase the long term active engagement.
- Retention rate– this is the rate of people that you have managed to obtain users. Let’s say you got 100 this month and at the end you have 80, then your metric is displayed as 80% as the retention rate.
Retention Metrics are important because you know how fast and easy you are getting users and how you lose them and how you can retain them using the other metrics. It helps distribute resources better.
- Quality Metrics
This is all about how good the code is. You can tell using;
- Automatic crash-report– usually programmed into the app code. It tells you when you have a problem with the app functions.
- Manual user feedback– this is feedback from the people who have interacted with the app and seen how it works.
- App store reviews– now, you don’t want to have negative feedback here so make sure that you have just good comments here.
Quality Metric are important because an app will always have issues and you will want to know when that happens and how to fix it immediately to avoid the bad reviews.
- Behavior Metrics
These analyze the user behavior outside the mobile app. Broken down into;
- Device and location- what device do they use and where are they when they most engage with the app.
- Usage time and frequency- when and how frequently do your users open your application in a day.
- User actions- what do they do when they open the app.
Quality Metrics are important because you can tell just how useful the app is and where it is most needed.
As you can tell, these metrics are all connected as they all want to get you the most users and the best way to get the income that you need. There is need to have all this data. This is what analytics is all about and with it, you can poop gold.