6 Key Mobile Marketing App Metrics
After investing a lot of time and resources into creating a mobile app, you need to be able to monitor how well the app is performing and also know what areas you can improve on to make the app perform better. If you would like to better understand how you can implement mobile app marketing for your brand, seeking the assistance of a mobile marketing agency is advisable as they will guide you through the process in the most efficient way. Additionally, here are the six key mobile marketing app metrics to track.
1. Number of downloads and top download source
This is one of the first metrics to track for your mobile marketing app. You need to know the number of persons that have downloaded the app on their mobile devices. This gives you a clear insight as to whether you should intensify efforts to promote your mobile app so that you can get more downloads. Increase in downloads shows that people find your app relevant to their current needs.
If you are already making efforts to promote your app on various digital marketing platforms, it is also important that you track the platform you are advertising on that is generating the most downloads for the app. Reason being that you want to ensure that the top referring sources are the ones that you push marketing funds to so you can keep getting better download results. This is better than just pumping marketing funds to less performing digital marketing platforms. By doing this, you can cut back on marketing funds with the hope of getting more returns on marketing investments.
2. Percentage of monthly and daily active users
Now that you have gotten people to download your app and more are still downloading, you need to know the number of persons who are using the app both daily and monthly. It is not enough to get people to download your app but they also need to use it frequently so that they can explore all the benefits of the app. Otherwise, all marketing efforts to get them to download it would be a waste. Keep track of your daily active users and your monthly active users.
If you notice a drop in the number, this will serve as a hint that something is wrong somewhere. From here, you can do more research, especially using the screen flow, to understand how they interact with the app and further research can give you insight as to why the number dropped. It is also important to encourage people to give you feedback on the user experience for your app. Look through the comment section of your app on any mobile store (Google Play, Apple store etc) where your app is listed to check out if anyone has complained about something while using your app.
Ensure you respond to them, then go and fix the issue and come back to inform the same person that the issue has been fixed. Doing this can help improve retention rate (the number of persons that keep coming back to use your app).
3. Time spent on the app and frequency
It is the dream of every app owner that users spend a lot of time interacting with the app. This is because the longer they use the app the more opportunities the brand will have to push out contents that would spur users to take a buying action or to even push out Google ads (where they also get some commissions from). You need to be able to track the number of sessions (time spent) users spend on your app on a daily basis. If the sessions are lower than what you want you can always work on ways to get your active users to take more sessions on the app in a day.
Aside from daily sessions, you should also track how frequent they come back to use the app. With this, you will be able to put more effort to ensure that the number of your daily active users is close to the number of your monthly active users.
4. Cost per user acquisition and lifetime value of users
This is a very important metric to track because it is directly related to the marketing investments spent on the app. You need to know how much you have spent to get the number of downloads and active users that the app currently has. With this, you can breakdown the cost of acquiring a user (especially the active ones). This will give you a clear picture of the returns on marketing investments (ROI). From here you can decide what to push and what not to push marketing funds on so that you can get better returns on your marketing investments.
In addition to the above, you also need to track the lifetime value of your active users. This can be used to project future returns on marketing investments. Just as with any positive relationships, both parties need to be adding value to each other. You as the app owner is adding value by creating an app that is relevant to the user, and the user in return adds some sort of value by bringing in revenue in multiple ways. For example, through Google ads display, display ads managed by the app itself or users making in-app purchases.
Knowing the cost of acquiring an active user and the lifetime value of the user will help you know what the returns on marketing investments would be. This is because the lifetime value of a user should always be greater than the cost per acquiring that user, otherwise the returns on marketing investments would be low or zero.
5. Churn rate
Tracking the churn rate of your app gives you insight into the number or percentage of users that have stopped using the app completely or even uninstalled it.
Tracking the screenflow gives you insight into the behavioral pattern of active users. It is important to track this because it can help you understand how users interact with the app. You can use this information to improve the user experience in order to increase and retain the number of persons using the app daily and monthly. This will also help to increase the number of sessions they have in a day.