This is one of my favourite topics I wanted to write on for some time now.
Not Good news is, it needs time (little money too) to implement this, but Good news is that even established companies and their apps are lacking in this area. So, it’s a Win Win for you if you don’t have marketing budget but can get the behemoth analytics system running to have you precisely target on marketing and sales channel where this is ROI.
In the competitive world of mobile applications, understanding user behaviour and app performance is crucial for success. Whether your app is a Software as a Service (SaaS), a game, or serves another niche, tracking the right metrics can lead to significant business growth. This article explores the key metrics you should monitor to enhance your app’s marketing and performance, ensuring your app not only meets user expectations but also achieves higher rankings in search engines.
Mobile app analytics provide insights into how users interact with your app, revealing patterns that can guide improvements and drive growth. By analysing these metrics, businesses can make informed decisions about marketing strategies, user experience enhancements, and overall app development. This data-driven approach is vital for staying competitive in today’s digital landscape.
Key Metrics to Track
User Acquisition Metrics
- Cost Per Install (CPI): This metric measures the cost associated with acquiring a new user through paid advertising. By understanding your CPI, you can evaluate the effectiveness of your marketing campaigns and optimise for cost efficiency. –
- Organic vs Paid Installs: Distinguishing between users acquired organically and those through paid campaigns helps in assessing the effectiveness of your marketing strategies.
User Engagement Metrics
- Daily Active Users (DAU) and Monthly Active Users (MAU): These metrics indicate how many unique users engage with your app on a daily or monthly basis, helping you understand user retention and engagement levels. –
- Session Length and Frequency: Monitoring how long and how often users interact with your app can provide insights into user engagement and satisfaction.
Retention Metrics
- Churn Rate: This metric represents the percentage of users who stop using your app over a specific period. A high churn rate indicates issues with user satisfaction or app functionality that need addressing. – Retention Rate: Tracking how many users return to your app after their first use helps you understand its long-term value and user loyalty.
Revenue Metrics
- Average Revenue Per User (ARPU): This metric calculates the average income generated from each user, helping you assess the financial performance of your app. –
- Lifetime Value (LTV): Understanding the total revenue a user generates throughout their lifetime with your app aids in evaluating customer value and long-term profitability.
Performance Metrics
- Crash Reports: Monitoring app crashes and their frequency can help identify technical issues that need resolution to improve user experience. –
- Load Times: Fast load times are crucial for user satisfaction; tracking this metric ensures your app meets performance expectations.
There are different tools (including open source) you can use to track metrics.
Some popular Free/Open source tools
- Google Analytics for Firebase: This tool provides comprehensive insights into user behaviour, engagement, and conversion tracking.
- App Annie: Offers market data and insights to help you understand your app’s performance relative to competitors.
- Matomo (Free Version): It needs some work, but you can modify and use it to your advantage.
Some paid tools:
Mixpanel: Known for its advanced user analytics, Mixpanel helps in tracking user interactions and understanding engagement trends.
Amplitude – Grabs lot of metrics itself without always needing the custom implementation.
Localytics: It focuses on lifecycle engagement and user insights.
