Almost every app owner worldwide starts the conversation by asking, “What are the key mobile app performance metrics I need to track, or what are the tracking apps for cell phones?”
So here, we’re for your rescue!
Software technology is constantly changing. There are many new possibilities, some of which can track location and measure distance—a global Positioning system to help people navigate daily life. Push notifications have enabled app marketers to influence users by pushing notifications on their phones. Smartphones can turn off these notifications, but hardly people choose to do it.
What are App Growth Metrics?
Mobile app metrics are performance indicators that provide insight into the entire app lifecycle. These performance metrics include how users interact with the app and points to high engagement or churn rates in the user journey. As a business person or a professional, you must understand the average conversion rate, tracking apps on iPhones, app conversion, etc.
Now you know what app growth metric is, let’s explore more!
Top 5 growth metrics for mobile apps that you should consider:
1. Acquisition: Mobile app user acquisition
Where are your users coming from? This is why mobile app tracking tools and metrics become critically important if you run ads or spend money to acquire new users. ep
You should be tracking app downloads daily to get more precise insights into your marketing campaigns’ impact. Knowing exactly where your users are coming from helps you invest in the right marketing resources to drive the new user growth.
2. Retention Rate
The retention rate lets you know your new acquired users and how much value they get from your product or app. Retention is perhaps the most critical KPI for mobile marketers, as users can’t engage with your app if they are not using it anymore.
Calculating retention rates simply divides the number of users from a recent time frame by the number of users from a previous time frame.
3. Churn Rate
While retention rate gives you a panorama of how many of your customers you’re keeping around. Your churn rate measures the side of the equation, namely, how many app users depart in a given period. Calculating your churn is simple: All you have to do is subtract your retention rate from one.
How frequently are users coming back to your app, or how much time do they spend on it? We understand that not all apps are meant to be used daily, so you’ll need to define precisely what an “active user” means for your app. For example:
- Is it launching the app?
- Logging in?
- Or completing a critical action?
App engagement metrics can help you understand the effectiveness of your engagement campaigns and, more importantly, the quality of your user experience.
5. Cost Per Acquisition (CPA)
CPA is a marketing metric that measures the aggregate cost for one paying customer on a campaign or channel level. It’s also the finest app metric for conversion, there are more advanced and accurate measurements of CPA that consider the entire app lifecycle. Traditionally, you need to total your cost for that campaign and divide it by the conversions or acquisitions.
By incorporating a few of these growth metrics into your app marketing strategy and marketing automation platforms, you can quickly transform how you look at and analyze data, enabling a more accurate picture of user engagement and satisfaction.
Integrating an analytics tool, customer relationship management system, BI Reporting Software, and Business Intelligence Tools, such as Ubiq, makes it easy to view, track, and gain insight from various growth metrics. It should underpin your app marketing strategy and dramatically increase your chances of long-term sustainable growth.
Bonus Read: 3 practical ways to improve your Mobile App