Summarize 9 KPI indicators to measure whether an APP is successful
| What is the most important metric for measuring mobile apps? This is a good question - it's not hard, but it's not easy either. In fact, there is no universal main performance indicator or specific evaluation criteria, but the following are some of the most basic indicators. Obviously, downloads are important for any app, but it is meaningless to just talk about download numbers without paying attention to quality. “Downloads contribute to an app’s success, but true success is not measured by downloads,” said Brant DeBow, executive vice president of technology at BiTE Interactive. “Many brands still judge an app’s success by whether it attracts ‘eyeballs’, which seems to treat apps like TV commercials.” Apps present unique opportunities for brands, but brands should not view apps as just another version of their company website. The best apps are somewhat “sticky” and allow users to experience their inherent value. Consider this: Your brand has so many opportunities to be used by users throughout the day that you shouldn’t waste them. Your app should have something fresh and exciting that deepens the user experience and increases user loyalty and brand affinity. You have to know that there is still a high churn rate between users downloading, opening, registering an App and actually using it. This article will tell you the nine most important KPI indicators that can be used to evaluate the success of mobile app software. 1. Application When users evaluate an App, they will first start with its purpose, and a truly successful App can solve the problems faced by users. In addition to simple usage, it is also necessary to understand the user's age group, the frequency, time, and method of application use. In particular, by analyzing the characteristics of the audience, it is possible to estimate the usage of different audience groups and predict model conversion. After understanding these issues, you can have a deeper insight into the App application and allocate resources in a targeted manner to obtain greater profits. 2. Product Lifetime Value For any App application, being proven, reliable and durable is the most important evaluation criterion for the product's lifetime value (LTV). Simply put, LTV is the value of a mobile user relative to a non-mobile user. If mobile users are more loyal and use your app more frequently than non-mobile users, then your mobile strategy is viable. Judge the "value" according to different uses. In this way, after understanding the value of the application to different users, you can clearly know which functions are important to users and which ones need to be improved. 3. Retention rate An application software will not always be the most popular, so to extend its lifespan, you must pay attention to the retention rate, especially the retention rate on the 1st, 7th, and 30th days. Today, retention is the biggest challenge for software applications. Surveys show that 65% of people stop using an app within three months of installation. And early retention rate forecasts can also indicate market productivity. In addition, app rankings are increasingly focusing on retention rates. Retention rate is a better indicator for users, but only if you do well can you achieve a higher retention rate. 4. Active Users Anyone can download an app, but getting people to use it regularly is not always easy. Monthly active users (MAU) and daily active users (DAU) are both key indicators for evaluating user activity. If users like an app, they will use it frequently, even to the point of dependence. Only by understanding the characteristics of this group of people and how they use their apps can we create more popular apps and convert more customers into active customers. 5. Usage time There's a big difference between just opening an app and actually using it, just like there is a big difference between page views and time spent on the page. Increasing usage time is very important for App applications. To make an App more sticky, you need to make it more attractive so that users will use it for a longer time. 6. Average User Revenue It’s great if an app has a built-in user base, but you might be able to create an app that generates revenue in other ways. To look at the big picture, we need to start with the average revenue per user (ARPU). "Revenue" comes from App price, in-app advertising, etc., but when you decide to use the average user revenue indicator, please be careful to place your App on multiple channel platforms. Andrea Cohen, senior manager of marketing at GPShopper, said it would be a mistake to simply look at what users purchased within the app and ignore the increase in their overall spending. According to her experience at two brand companies, The North Face and bebe, users spend 15% more on apps than online users each year, and even account for 25% of total revenue. 7. App loading/login time Your app takes six seconds to log in? Let me tell you clearly that no one is willing to spend time using this app. Time is the essence of App applications, and it is your responsibility to provide users with more efficient app loading times. The user loads the App, logs in to a new page, and makes a purchase in the app. All processing should be completed seamlessly. If you make users wonder why your app is taking so long to load, they may already be using your competitor’s app. 8. User Acquisition One way to acquire new users is to study how existing users find your app, whether it is through search, paid advertising, built-in recommendations, or word of mouth. People look for different apps for different reasons, and it’s useful for apps to understand how to reach their target users. Candy Crush turned 20% of iPhone users in the United States into active players of the game through paid advertising. 9. User experience/happiness If users use your app for five minutes, are they getting value from it? Or can they find the web page they need? Or are they feeling frustrated? People using an app does not mean they like it. Of course, you can check out the popularity of an app through reviews and ratings on the App Stores. Of course, you can also use tools like Helpshift to get feedback on the user experience. These are the nine important app metrics you need to know. Before you start analyzing your mobile app, decide if these metrics are appropriate for your business. Pietrzak said, “Tracking tons of data won’t improve your business, but effectively executing against key business objectives will.” |
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