3 Need to Know Mobile App KPI’s

App Strategy

Mobile Apps provide an interesting opportunity for companies and they should not be treated as simple avenues for the mobile site. The best applications provide value to the user’s life and have a stickiness to them. They give you the opportunity to put your brand in the palm of the consumer hands 24/7, this is not to be taken lightly. Bringing something fresh to the table can not only enhance the user experience, but it can also boost loyalty.

App usage outweighs app downloads since usage suggests enjoyment and value. Organizations should strategically set business goals and determine what success would look like, for specific features of the app and for the app as a whole. i.e.:

We hope to reach X number of session after six months

In addition to specific goals, you should have a flow in mind that you hope users will complete — register, refer friends, share content, purchase an item, link to social networks, et cetera. These need to be tracked in such a way so you can identify which users are successfully completing these flows.

Next we have KPIs (Key Performance Indicators) to pay attention to when assessing the success of your mobile app.

Usage

If people are using your application, they are getting value from it. A successful mobile app will offer a solution to a problem their user faces. Success is confirmed by users visiting the app repeatedly.

Besides just usage, you need to know who is using the app and how they’re using it.

Who is in your demographic?

Who isn’t ?

How often is the app opened?

Is the app used more on tablet or phone?

Android or iOS?

Finding out what these engagement metrics are will provide insights into your app. It will help you find your strengths and weaknesses.

Lifetime Value

One of your most important metrics for a marketing initiative is Lifetime Value (LTV), this is also true in mobile apps. LTV is the value of a mobile user as compared to a non-mobile user. if your mobile user is more loyal, spends more, and/or evangelizes more than your regular consumer, your mobile strategy is working.

How you evaluate value depends on your market.  A news app may value ad impressions while a game may track in-game currency. Knowing the value of various consumers means you can compare users and identify key segments of successful users.

Retention Rate

Strive for longevity, and pay attention to the app’s retention rate. It’s great when you’re the new kid on the block and everyone wants to join in, but you won’t be satisfied when the fleeting obsession ends.  Having an early indication of retention will help you determine the app’s viability in the market. Retention is one of the biggest challenges of mobile apps today, as 65% of consumers stop using them three months after install.

Nowadays app store rankings have become much more sophisticated and focus on retention and engagement. This is a good thing for consumers since retention and engagement are much better indicators of app quality. It also means your app has to be really something to rise to the top.

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3 Mobile App KPI’s to know