As Small Business Owner with a Website or Ecommerce Store, you hopefully know the importance of tracking data in determining your overall success Online. It’s essentially how you differentiate the big Marketing wins from the epic fails. But did you know that tracking metrics for your Mobile App was just as important?
And further to this, given that users engage with Mobile Apps in a completely different way, the metrics you need to measure for your App are vastly different to those of your Website.
As a Small Business Owner, we understand that measuring your data might not be something you’re entirely comfortable with – after all, you’re not a Marketing Analyst! But it’s something that, for better or worse, is absolutely vital to the overall success of your App. Metrics can help you gain insight into your App, helping you gauge those areas that need improving and how to best increase your user engagement. Without them, you have no way to optimise your product.
So, when it comes to measuring your Apps success, where do you start? Well, Below we’ve created a checklist that reveals the 7 Mobile App metrics that matter most, complete with descriptions and insight into why they're so important for your Business’s success.
1. Mobile App Users
As the name suggests, this crucial metric allows you to observe just how many users are actually using your App. This can then be broken down further into Daily Active Users (DAU) or Monthly Active Users (MAU), which each can provide their own benefits.
The Daily App User metric is useful for getting an idea of just how many people are actively engaging with your App on a regular basis – this number reflects your most important users. When then observing your MAU you can determine the number of people that you need to attempt to convert into more regular users.
To increase user engagement and boost the ratio of your DAU, try leveraging push notifications in order to gain customers attention after they’ve downloaded your App. You can also frequently update your App with new and helpful features and content, keeping it fresh and interesting for all who use it. This will give your Monthly Active Users more of an incentive to engage more frequently with your App and discover what else you have to offer them as a Business.
2. Mobile App Session Interval
The Session Intervals metric measures how frequently your users return to your App. Much like the Active User metric, this is another great way to determine how engaged your users are. Essentially, Session Intervals measure the time between a user's sessions, with shorter Session Intervals being more preferable.
If your Session Intervals are short, it means that your users are frequently touching base with your Business through your App, either by making a purchase, searching, browsing or just hanging out
One of the best ways to improve your Session Intervals is to try incorporate it into the daily lives of your Users. Make it a part of their daily routine, so that using it becomes a natural part of their life. If you’re able to improve this metric you’ll likely generate a greater following and increase your number of raving fans, who’ll undoubtedly share your App with their friends and family.
3. App Retention Rate
Retention is the percentage of visitors who have returned to your App since their very first visit. Given that there is more likelihood of success for your App when users stick with it, this is one of the most important metrics to be watching.
According to statistics, in 2015 on average 42% of users returned to an App at least once within one month of downloading it. That number dropped dramatically in the second month to 29% and slightly again in the third month to 25%.
To help you boost your Retention Rate, aim at making your App more interactive and engaging for the user. Remember, with all that competition out there, it’s not enough for your App to simply be user friendly: it needs to be interesting, fun, informative and offer the user exactly what they’re wanting. Building your retention is a vital element in making users convert into sales and long-term supporters of your Business.
4. App Downloads
Tracking your App Downloads is useful for a number of reasons. Not only does it tell you how many people are interested enough in your App to download it, but it gives you great insight into where your downloads are coming from: both the Online source and the physical location of the user.
Whether through paid campaigns, organic search, social media, or word-of-mouth, you should know where your downloads are coming from. And by looking at your App Downloads, you’ll be able to determine which channels are significantly effective at attracting new users for your Mobile App.
Once you’ve figured this out, you can invest more into these Marketing Channels and thus increase your downloads further. If you find you’re getting a very low number of Downloads, consider optimising your App’s listing in the App Store. Perhaps your icon, title and content aren’t catchy or appealing enough for your Target Market.
5. App Launch _ Load Time
With the remarkable speed of the Digital World, these days consumers want everything now – if not sooner! This notion of the instantaneous can spell disaster for your Mobile App if users are having to wait for several minutes for your App to download.
This makes checking and testing your App’s load time critical, as it could see a serious reduction in the number of downloads you receive if it’s too slow. In order to provide your users with an excellent user experience, you want your App to download as quickly and efficiently as possible.
If you notice that your App Downloads are low, measure the speed of your download time. It might seem insignificant, but even just a few second could be the difference between gaining yourself a loyal App user and someone who uninstalls you straight off their phone.
6. App Star Rating
Your App’s star rating is imperative in how potential users view your App. Too low, and people probably won’t even bother investigating further, but a high star rating in the App Store is a sure-fire way to gain more users fast!
Statistically, over 50% of users always check the star rating of an App before downloading it on their device. This is because, typically, people seek out the advice and opinions of others before making a purchase or downloading something Online. This means that having a higher rating will likely play a huge part in the success of your App, while a low rating will obviously decrease your chances of being downloaded.
Furthermore, having a higher rating will inevitably increase your ranking within the App Store. This means your App will be ranked above the Apps of your competitors, making you more likely to be a users first click.
7. Lifetime Value
This metric is your ultimate measurement of how much revenue you’re getting from your Mobile App, as well as how much each user is worth. This means every user has their own lifetime value, which is the amount of revenue they generate while using your App.
You can measure your customer’s value by either tracking the Monthly Value or the Value Per Customer. The more that a customer spends on your Mobile App, the more loyal that person is to your Business.
This metric can also be determined through Revenue Per Customer, which is measure using a slightly different formula that directly connects the amount spent from purchases in the app as well as from other channels.
In any marketing strategy, never look solely upon how much revenue you’re getting. Your Mobile App’s success depends on how you monitor these other various metrics, as they will give you the best insight into how you can better optimise and improve your App to draw in more customers and retain current users.