In today’s modern era, mobile apps are used by different enterprises and companies for various purposes. Companies are relying on mobile apps satisfying different needs, to some businesses it’s a source of revenue, a communication tool. It is an effective way to enhance awareness of the brand or connect with customers around the world. The importance of mobile apps has increased over the recent years giving businesses a tough competition at the market. Each business is in the process to introduce the best mobile app to stay ahead of its competitors integrating the latest technologies and using complex techniques. But a mobile app may fail in its purpose if proper tracking and monitoring is not done or correct metrics and analytics are not used.
However, to meet the business outcomes and expected results, enterprises should focus mainly on the important metrics and strategies that are effective for the growth of their business. In this article, we will share the key metrics that can instantly enhance your mobile app development strategy.
1. Performance Metrics
The performance-based metrics focus on how the mobile app is operating, tracking and monitoring the entire performance. It provides a complete insight into the working of the app that helps to find out the issues arising in the mobile app. Solving app-related problems immediately is important for optimizing as an app that constantly crashes and takes a lot of time to load and perform tasks always fails to retain users. API is a technical development environment granting access to a third-party application. By doing this you can maintain the performance of the mobile app you need to take care of the API latency time. Users tend to abandon the app if it takes a longer time than expected for using the functionalities provided by several APIs. The development team should be able to monitor the technical failure of the app like crashing preventing it from important data loss. Moreover, mobile app speed should also be given a major focus on increasing user engagement and satisfaction.
2. User-Centric Metrics
The user-centric metrics focus on the mobile app’s user base considering when, where and how the app is being used. These insights shed light on user behavior giving relevant information to the product teams that help them to generate ideas about the creation of more personalized user experience. Acquisition metric refers to the number of app downloads from a certain location, search and paid campaigns. Its tracking provides insight into useful marketing strategies generating more leads. Churn rate is another user-centric metric that shows the total percentage of users who stopped using the app after a certain period or point. To identify and understand the app churn is essential for any mobile app as it helps in enhancing the growth strategy so that new methods and techniques can be implemented. DAU metric reflects the number of daily active app users giving businesses an idea about the areas that need to be improved.
3. Engagement Metrics
Engagement metrics take an in-depth look at user interaction with the app providing details of their usage patterns and in-app behavior. These powerful insights help greatly in retaining a loyal user base and picking up an optimized monetization strategy. Session length metric refers to the time users spend on the mobile app within an individual session, counting the length from app launch to closure time. This metric tracking holds great importance and is considered crucial for any app as it helps in discovering revenue potential streams. Another engagement metric includes a session interval that refers to the lapsing time in which each individual uses the app. The Time-in app metric shows how long users stay in the app knowing the number of engaged users, while the retention rate metric is used to know the exact percentage of returning users. Tracking this metric provides ideas to create better user targeting capabilities that ultimately improve retention rates.
4. Business Metrics
Mobile app’s success is largely dependent on the revenue generated by the app. All the metrics are focused on the app’s performance and are used for the monetization of the mobile app. It helps businesses to make informed decisions and perform predictions for any financial issue that may arise. The lifetime value metric is used to track the business revenue from the app presenting its financial value and each user’s app lifetime worth. It tells the growth of different segments over time and the signals of spending on acquisition to gain more users or increase profit. Cost per acquisition is another business metric that is used by mobile application development services to track how much each user acquisition is costing. Acquisition reports tell the amount spent to acquire new users and how much they spend after getting into your app. It analyzes the value of acquired users against organic users to observe which campaigns have higher LTV.