Whether you’re selling vintage clothes or vintage cars, web design services or weekend outdoor adventures, nothing is more critical to success than understanding the metrics generated by your mobile app. Unfortunately, most business owners who have an app—and let’s be honest, it’s where online business is headed for everyone—don’t look past the simple number of downloads. But to truly see what’s working and what isn’t, it’s necessary to dig deeper into the analytics and KPIs—Key Performance Indicators.
Apps are unique to mobile business and thus should be treated as a special branding opportunity rather than just a version of a website. So keep an eye on these six metrics to leverage the power your app holds for success.
Usage
A successful apps offer a clear solution to a problem, and if people are using it then obviously they’re getting value from it. However, beyond mere usage ask yourself these questions: What’s your demographic? How frequently are people using it? What time of the day are they opening it? Watch the engagement metrics closely and see what the weaknesses are, then allocate your resources to strengthen engagement.
Lifetime Value
Knowing the value of a mobile user as compared to a non-mobile user is vital. If your mobile user is more loyal and generates more income for your business, your mobile strategy is working. And understanding the value of various consumers means you can compare them, identifying key segments of successful interaction as well as those that need improvement.
Retention Rate
Strive for longevity, and pay attention to the app’s retention rate, specifically the one-, seven- and 30-day rates—current statistics show that 65% of users stop using an app after only three months.
Session Rate
There’s a big difference between simply opening an app and actually using it, so watching session rates can help you strategize on building a relationship between the user and the app.
Average Revenue Per User
It’s great if people are opening your app, but this is business, and the bottom line matters. The ARPU shows the value of an individual, and it’s an important metric for leveraging the value of your app and making adjustments.
App Launch/Load Time
Statistics indicate that mobile users expect an app to load in under six seconds—not a very long time. So be sure every page loads as efficiently and quickly as possible, most especially the interior and purchase pages.
