Since 2021 just kick-off, it’s time to define objectives for your products. Therefore here are some of the best KPIs for App Measuring and Mobile App Analytics Best Practices that you should track ? ?
Before all, the first main driver question is: What are you looking for?
The data that you’ll collect from your apps will only take meaning when you know clearly what your goals are. Identify your goal first and then work towards measuring those goals.
Less is more. If you have multiple goals, you will end up with useless data outputs from your app.
Define ONE single goal per-app vertical. That goal should translate to the success of your app.
e.g.
Goal: in-app product purchase
KPI: conversion %
(How to define an app vision, strategy, and goals, that might be a whole new topic for another day)
Now, getting into the KPIs…
Focus on 3 main Dimensions:
A) Acquisition
B) Engagement (& Retention)
C) Revenue
A) ACQUISITION
- App ORGANIC downloads – this one will tell you the healthiness of your app ASO.
Don’t know what’s ASO?! Check @nickjsheriff posts since he has great stuff on this.
- Cost per Installation (CPI) or Customer Acquisition Cost (CAC) – track the amount of money that is going into acquiring new users for your app.
The better your app ASO, the lower will be your CPI/CAC.
- Customer Lifetime Value (CLTV) – determine how much revenue can be generated from your avg consumer, till the time they stop using your app. CLTV is an indicator to know if you’re spending more to acquire your users, which is not good for your app business.
B) ENGAGEMENT (& RETENTION)
- DAU/WAU/MAU (Daily/Weekly/Monthly Active Users) – these are the basic foundation metrics.
- Stickiness or Retention Rate (RR) – % of users who find your app interesting enough to stick around (using it again for a period of time).
Stickiness = DAU / MAU | The closer DAU is to MAU, the better your app is.
Retention Rate (RR) = ((CE – CN) / CS)) X 100
CE (# Customer end of a period)
CN (# New Customers acquired over a period)
CS (# Customer at start of a period)
- Session Length – represents the time (in sec/minutes) or depth per session (# of screens) per user.
The higher the number, the better.
Usually, the depth of the session is tracked against the funnel of the app user journey to understand how far users go within the session.
- Churn rate or Uninstalls – measures the rate at which users abandon or uninstall your app.
Excuse saying, keeping this number low is important.
- Rage Tapping – this is not very common but can be very powerful because measures the user’s frustration. Helps identify if users are frustrated with unresponsive or slow responding controls, through rage interactions.
Requires a 3rd party SDK to monitor user screen behavior.
C) REVENUE
- Conversion Rate – the most common known metric, represents the % of users who did a certain action/goal in your app.
The definition of conversion differs from app to app and is attached to your App Goal.
- Average Revenue per User (ARPU) – calculate the amount of money generated by a user within a time period
If you’re not monetizing your app, you can have an alternative to this matric as
Average Return per User
where Return = to your “Conversion” definition.
There are plenty of other KPIs and metrics to be tracked, however, these are, not only the most universal but also effective metrics to track an app properly, IMO. 🙂
What you’ll be measuring? What else you will be tracking? 🙂