Data is the backbone of maintaining a successful mobile app and keeping your users happy. However, knowing what data to look at and how it should be interpreted can be difficult, as every marketing channel has a different set of metrics. Understanding how to analyze the metrics that matter for a mobile app, and what to do with the information can make or break the success of your app, so here is an overview of the top 6 most important metrics to measure, and what they mean.
In order to have a successful app that caters to the the users, its important to understand your daily active users, because these ore the ones who will provide the most relevant information. First and foremost, you should understand how these users are experiencing your app, whether it's on an Android or iOS phone or tablet.
2. Time Spent In App
Depending on what type of app you have, there will be a different optimal amount of time needed for a user to convert. Once you have an understanding of this time, you can begin analyzing where users abandon your app, and work to improve the process from there. The apps that tend to have the longest session lengths are entertainment apps, with the top two being Reddit and Tumblr. Banking apps, on the other hand require a very short average session length to be successful.
3. User Acquisition
User acquisition is the number of users that download your app. Tracking this can help you understand where your users come from, which campaigns are more effective in the short term and long term. Once you understand your user acquisition, you can measure the cost of acquiring a new user and find the balance of the cost to acquire a new user and the profit you make off of any given user.
4. User Flow
This is the path that any given user takes through your app. Tracking which features are used at what time in the app experience, and when the user exits the app or makes a purchase can give you a huge amount of information as to what is working and what isn't, from a user standpoint.
5. User Retention
This is the number of users that return to your app after their initial download and visit. This is one of the most important metrics because no matter how many new users you acquire, if you can't retain them then you can never grow your user base. Many people don’t know how to analyze their retention in any meaningful way, and end up losing valuable and potentially loyal users because they are unable to interpret what the user data actually means, and what to do about it. To get a comprehensive overview of user retention and how to analyze it, check out our article that breaks it all down.
6. Lifetime Value
Lifetime value, or LTV is the amount of revenue you can expect to receive from a user. This is a very useful piece of data because it allows you to calculate how much money you can spend to acquire a new user to make a profit. You can analyze the LTV of users from different sources to see which marketing methods bring the most valuable users, and get feedback from your customers to understand what results in the highest LTV.
Understanding all these metrics, what you can conclude from the data and how you can improve your app based on this information is the key to your app's success. Constantly monitoring this information will allow you to watch the success of you app grow, and provide a basis through which to understand how to improve your users experience, and further improve your app's profitability.