You built an amazing mobile app and it is now LIVE on the App Store, congratulations! Now, it’s time to measure its performance and update your strategies accordingly. Even if your target audience is responding well to your app, you still need to examine the success of your application to improve it further. If you focus on improving the customer experience to build a useful tool through your mobile application, the money will follow its way.
Being a tech-enthusiast, we know there is a metric and KPI (Key Performance Indicator) for almost everything. In this blog, we will cover some important KPIs that were important in 2020 and still are important, as well as KPIs to watch out for, for 2021.
To reach a larger audience, you need something more. What? Well planned and dedicated KPIs that can help to track your app performance. We know every app has its own user-base and there is not a “one size fits all” solution, a set of KPIs working with no distinctions. You need to choose the one that fits your app and your business goals.
We are listing the top 10 mobile app KPIs to boost your app revenue:
1. Daily Active Users
Daily active users on your app determine the future growth of your app and it is considered as their primary measure of growth and engagement in successful apps. Here DAU (Daily Active Users) shows the number of users who check or use your app at least once a day. It shows how much interest your app is getting from users every day. On the other hand, MAU (Monthly Active Users) shows the number of people who use your app at least once a month.
2. Rate of Retention
Retention rate is basically as the percentage of users who visit your app once between the 90 days time period, This data helps to find out the customer loyalty or satisfaction towards your app. If the retention rate is good, it means your app is meeting the user’s expectations. Experts advise that you must focus on user retention from day one, as it is quite hard to track it all at once.
3. Uninstallation Rate
Do you know tracking the uninstallation rate is also important? Because we can often form blindspots to our shortcomings and unconsciously ignore them. If you track these data more carefully, you will be likely to guess the real cause of app uninstallation.
4. Session Interval
Tracking the time gap between the two sessions is also crucial. It helps to determine how frequently users feel the need of using your app. If you look closely, you can figure out what feature is missing in your app and how to optimize it to increase user engagement.
5. Brand Awareness
If you are in the mobile industry, brand image is everything. Because it’s your business identity in the market. Brand image can be determined by how many times your mobile app appears in the search results and different social media platforms? The more you see your app on the top rankings, the better brand awareness your mobile app has.
6. Lifetime Value
Lifetime value means the total amount of money you receive from a user before they stop using your app. Earning revenue through your app is your end goal and with the help of these metrics, you can predict how much revenue your mobile app can create in the future.
7. Average Profit per User
This refers to the average revenue earned per user through your mobile app. It is very important to consider because earning from every user shows the real success of your mobile app. With ARPU data, you can know how many users are genuinely interested in using your app.
8. User Reviews
How can we ignore reviews? No matter how good your app is, if a customer faces any bad experience while using your app, it takes no time to write a negative review about your app. It can hamper the success of your app. You must check what people are saying about your app. You should accept both compliments and criticism to improve your app performance.
9. Customer Acquisition Cost
A wide range of promotional platforms is used to promote mobile apps and users can find it anywhere either app store, paid campaigns, or by word of mouth. You can use these sources to understand better the user’s behavior and cost involved to promote your app and make an improved & effective mobile app promotion strategy.
This is the last KPIs but not the least, tracking downloads is still the most important aspect among all KPIs. if you do not know about the download rate, there is no use for these metrics. Because these download numbers are the popularity indicator. The maximum you get downloaded, the more popular it will get.
As we have already discussed, every mobile business has its own mobile app KPIs but these top 10 metrics will help to gain deeper insights into your app’s performance. We, at EIY SYS, closely focus on these important KPIs while building a mobile application for our clients. To get a free consultation, contact me now!