What are mobile app metrics?
Just like humans, mobile apps thrive on feedback. Knowing what the user is doing is the task of the team designing them. They need it so they can improve the product. Mobile app metrics reflects performance indicators such as how users find the app until the cause of interaction, sharing.
Mobile app metrics are important, right?
It is true to say that mobile app metrics are important. The reason is that without them, companies or publishers cannot know if their application is successful or not. Companies that lack accurate data are forced to rely on overall metrics such as total revenue or total downloads. These overall indicators may not accurately reflect the current situation. With Mobile app metrics, they can see these issues and come up with effective solutions. So app development is very important
There is no denying that the best way to track your mobile app’s metrics is to use an app analytics platform. An app analytics platform that collects data whenever someone logs in or makes purchases and summarizes everything on the dashboard for your convenience. This allows people to create statistical applications, make hypotheses and make better marketing decisions. While there are many metrics you can track, it’s best to focus on the 5 key performance indicators (KPIs) that best suit your goals.
It is true to say that mobile app metrics are very important!
Top 13 mobile app analytics metrics that you should pay attention to
We will show you 13 mobile app analytics metrics in here
#1 Daily active users (DAU) and monthly active users (MAU)
This metric is helpful in helping you track your total downloads but according to Inc. However, its down side is that it can be highly misleading because 80 to 90 percent of people who download the app never download it again. Therefore, it is more accurate to track your active users by day or by month.
When you choose to track active users, you only count the number of users instead of their total downloads. Whether they visit once or a lot, they will count as an active user. DAU is an indicator that reflects the total number of unique users per day, sometimes on average for a month. MAU is usually measured in 30 days.
Unique users per day = DAU
Number of unique users per month = MAU
Stickiness is all things that encourage visitors to stay on a site longer. We can say that your website is Stickiness if visitors tend to stay for a short period of time and they will return.
Ad views and the average time each visitor spends on the site are two of the most important measurements of what a website offers companies. Sites such as Facebook will gain engagement if they have a lot of content. If companies can make their visitors spend more time on the site they create, they will see more ads and they can be considered loyal customers. And also more likely that they will click on the ad.
Stickiness= (DAU / MAU) x 100
#3 Retention rate
Retention is the percentage of customers that a company can retain for a certain period of time. It is the ratio of the number of returning customers to your total customers. This ratio can be taken in 1 month, 1 quarter, 1 year, etc. Retention rate is the opposite of Churn rate , which indicates the percentage of customers that the company lost in a certain period of time. The importance of customer retention rates depends on the industry, depending on the type of business the company has.
#4 Churn Rate
Churn Rate is understood as the percentage or percentage of customers or subscribers of a brand that canceled or did not renew their subscription for a certain period of time. Churn Rate is an extremely important metric for companies doing business with a contractual customer base – meaning customers will pay the service on a monthly, quarterly or yearly basis.
Churn Rate can be one of the defining figures that elucidate the actual development of the business. Regardless of the brand’s monthly revenue, if the typical customer does not spend enough time on the business to recover the average cost of acquisition (CAC), the business will be in trouble.
#5 Cost per acquisition
When brands choose a CPA pricing model to advertise on an online advertising platform, they agree to pay for each action such as sale, form registration, or advertising campaigns created
Most marketers prefer the CPA pricing model to help optimize advertising costs as much as they can set a goal for each activity before starting to run ads and pay only when people perform specific behaviors like the goals they have set.
Total Marketing Cost / Total User Acquisitions.
Cost per acquisition
#6 Average daily sessions per daily active user (DAU)
This metric is a measure of how often users login to a company’s apps every day. More sessions are usually better, but that is not always the case. Users can log in constantly because of frustration or sometimes just because they encounter an error. In general, you must combine this metric with other metrics such as user satisfaction and behavior flow to get the full results.
#7 Lifetime value (LTV)
The same as Customer Lifetime Value – CLV, it is the value of a customer who contributes to your company throughout their life. Loyal customers are people who bring long-term and sustainable profits for businesses because of the high life cycle value. For example, if a user brings in a revenue of US $ 0.10 / month for 1 year, the estimated LTV for that user is about US $ 1.2 / year.
Average value of conversion x Average # of conversions in a timeframe x Average customer value = LTV
#8 Average revenue per user (ARPU)
The average revenue per customer (ARPU) measures the revenue generated per customer (user) or unit (subscription). ARPU is not based on generally accepted accounting principles (GAAP), which allows managers and investors to fine-tune their company’s ability to generate revenue and growth at each customer level.
Lifetime revenue of app/ Lifetime # of users = ARPU
Lifetime revenue of app / Lifetime # of paying users = ARPPU
#9 Return on Investment (ROI)
Return on investment (ROI) is used as a convenient way to determine the impact of profit margins on revenue and total assets. The purpose of this formula is to compare how a company makes a profit, and how it uses assets to generate revenue. If the ROI is 15%, then with $ 100 capital spent, giving you an additional $ 15; but if the ROI is – 15%, then for $ 100, you lose another $ 15 because of the poor business situation. Investors can also calculate the expected ROI to consider making investment decisions and adjust business operations appropriately.
Return / Investment
#10 App load time
Application load time, also known as launch time, reflects performance metrics. There are many consumers who expect fast results from the app. Therefore, they will be disappointed if the application does not meet their expectations. In fact, too long a download time may cause the user to abandon the application.
App load time, measured in seconds
#11 User satisfaction
Put simply, User satisfaction is an indicator of how products and services are delivered by a company to things that meet or exceed customer expectations. With Customer Satisfaction Score, companies often ask customers to rate their satisfaction on a scale of 1 to 5. If the answer is around from 4 or 5, then the customer is considered satisfied. With Net Promoter Score®, customers are asked to rate their satisfaction on a scale of 1 to 10. The respondents from 0 to 6 are considered dissatisfied, and the respondents around 8 to 10 are satisfied people
(# of satisfied customers / # of survey respondents) x 100 = CSAT
#12 Goal achievement
Goal achievements track users’ behavioral journeys to estimate how often they achieve success. That can be fixed in terms of purchases, subscriptions, sharing or something specific to your application.
% Users that achieve their goals each session
#13 Marketing Acquisition
Businesses need to answer many questions as to where customers come from? Who are the potential customers? Keep track of your different marketing channels to see where your subscriptions come from so you can calculate the ROI of each site and increase the best performing channels.
% Total visitors from a top marketing channel
$ Total visitors from a top marketing channel
% Dollar value of visitors from a top marketing channel
#14 Cost Per Install (CPI)
Advertisers will only lose money when a user installs an app from an ad. If you only look at the price, the cost per CPI is usually higher than CPC and CPM, but when calculating the amount you pay for each promotion to get the new settings will be lower than running CPC or CPM. For developers who only require one goal to increase the number of downloads/installs, this is a very effective advertising model.