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.
Customer acquisition is vitally important for any business, but it can be tricky to get just right. In order to be viable, businesses need to find the perfect balance of the cost to acquire a new customer, and the ability to monetize the customer. You can find your business's customer acquisition cost using this simple formula:
There are approximately three million apps in the Google Play Store and Apple App Store combined, and consumers are spending 84% of their time in only five of those apps. Furthermore, the average Android app loses about 80% of its daily active users within the first three days, and about 90% by the first month. What percentage of users do you think come back to your app three days after downloading it? It's about time developers start focusing on retention rates over acquisition rates...but how?