In the last 8 years, the mobile app industries have made out remarkable growth in Android and iOS app development industries. Lots of small, medium and large scale businesses are looking to take advantage of this growing trend, by developing mobile app. If you also want to develop a mobile app to capitalise this increasing trends, these enhancements in hardware for mobile app development trends will smooth the path.
App developers have to focus on Key Performance Indicators, abbreviated as KPIs to optimize their newly launched apps. This is because; measuring the performance delivered by any particular mobile app requires tracking of a large number of Key Performance Indicators. KPIs form significant parts of any information required to explain and determine the way, a company or an individual expert progresses to achieve its promotion, marketing and overall business goals.
However, collecting data and detailing it out to launch an effective KPI is a daunting task, as collection of too much information may sometimes result in complexities to interpret them properly. Considering this fact, experts associated with mobile applications and their analytics have recommended finding answers to the two most important questions before setting a KPI. These are
Thus, irrespective of the type of app i.e. gaming app, payment app, travel and tourism app, utility app or any other types of business app, it is essential for an app developer to focus on the following KPIs, as we have mentioned in this blog post.
LTV i.e. Lifetime Value is one of the tried and true metrics associated with marketing initiative for any good app developer. This is because; LTV indicates the value of any mobile user as compared to any other non-mobile user.
If any mobile user stays highly loyal, spends more time and evangelizes more as compared to your regular customer, your mobile strategy will work properly. Hence, it is essential for you to know the value of your consumers based on the comparison of your users, identification of key segments of various successful users and cohorts, which require improvement.
In order to download any app, especially when it is available at free, it becomes one of the easiest things in the app sector. However, the thing that takes places next is critical. This is because; you have to consider the numbers of individuals, who have already installed your app, are using it actually. For this, you have to focus on daily and monthly active users to know the popularity of your free apps available over Google Play Store and other similar online stores.
Length of any particular session acts as a performance indicator, which you have to consider in correlation with exact numbers of active users within a specific time and depth of your visit. This is particularly, true in case of gaming apps or sections dedicated for gamification dynamics.
In simple words, session length/time on any app helps a large number of mobile strategies to quantify the depth of any individual’s relations with the respective app. Hence, as an app developer, you have to make sure to come up with a sticky and compelling app, as both of these factors help any app to stay for relatively long sessions.
User experience i.e. customer satisfaction is a prime factor that proclaims your success in the app development sector. This is because; happiness of individuals has a close relationship with the overall user experience. As a comprehensive digital marketing perception; a well-designed mobile add value to your digital marketing strategy by unique customer experience. For that, hire professional mobile app development agency to get unique UI experience.
Defective user interfaces, crashes and bugs would likely keep your users from using the app. Hence, in order to avoid any adverse situation, you should make sure to check ratings and reviews regularly to understand what exactly your customers perceive about your apps and factors, which require fine-tuning.
Depth of any app visit acts as an important engagement metric. It indicates the exact numbers of pages or screens visited in a single session. This information indicates two critical insights i.e. engagement and usability of your contents as well as smooth and seamless experience delivered by your app.
Next, you have to find an appropriate answer to the question that how many times your users are interacting with your contents. You should always remember that an installed app becomes useless if an individual opens it for only once in his or her device. Thus, in order to resolve the problem, you have to place frequency in check. In this case, usage during the initial few weeks acts as a plausible signal about what exactly would take place in the near future.
App developers can also check the strength of their loyal customer base based on an efficient metric i.e. revenue generated for any app from a single user. This figure indicates the total value of a particular person towards the app business. The parameter or metric not only indicates about in-app purchases, but also about spending of the respective app across a large number of digital channels.
Repetition of sales is an important factor associated with planning any loyal strategy towards app development. This is because; customer retention costs you relatively less but achieving it is not a piece of cake. If you have a look at the scenario of mobile apps, you will find about about 70 percent of total users often use any particular app only for three months period after they install it. In this situation, an app developer may consider retention rate in a specified period as the perfect way to identify the engagement or involvement of customers.
If the main objective of your newly launched/updated apps to increase sales, such as any e-commerce, fashion or retail app, it is essential for you to measure conversions in a specified time. Conversion in this case may be registration, subscription or a purchase, depending on what exactly you offer with the help of your app.
In case you have come up with a content-oriented app, you should make sure to monitor in-app purchases as one of the important KPIs. Mobile customers usually opt to connect their installed apps with social media accounts. Sharing of app updates on various social media platforms indicate huge interest of users in the delivered contents and are perfect options to boost the mouth publicity and create a trustworthy community.