App Analytics can become a tough nut to crack when you are new in the mobile application industry. Let’s make some sense of it.
With the time spent on an app is equivalent to a month of our lives, the focus of today’s mobile consumers has shifted entirely to applications that are installed on their devices. The phenomenon, which has come as a direct result of the direct and omnipresent features that their medium supports, has given a rise to options that are now available to the consumers in abundance, bringing them on a verge to cross the current 1 month of a lifespan time slot.
With the record-breaking rise in the number of applications in the play and Apple stores, the need to analyze their fruition has also surfaced, giving birth to a number of metrics whose full forms are too difficult to remember and the concept even more difficult to get a grasp on. Now sorted are those who have the support of a mobile app development company that handhold them to make sense of every metrics that matter to their business, but the ones who don’t have that kind of a support end up getting shoved at the bottom of the thousand app metrics and their seemingly similar uses.
If you belong to the latter, keep reading:
The minimal chances that you belong to the ones who don’t have that kind of support are quite evident from the fact that you are still reading this. This article is for everyone who wants to focus on just the on the point metrics, peacefully parting ways with the hundred others.
You need to read this if – You are struggling to make a report to gauge the exact profit that your app business has made and almost all your business meetings are ending without a clear picture of where your app is headed. Overall, you are unable to formulate any SMART strategy.
When your app is in its early stages, the only thing that matters is the number of downloads it is able to get from the world. However, soon you will find your app shifting from the entry stage to an active one (a transformation period that is very quick). So while it is extremely important to have the number of downloads in double and triple digits, you have to understand that it will reduce over time. The only thing that would stay and the matter would be the usage percent.
This becomes even clearer when you look at the statistics that show how in 206, while the number of iOS app downloads was 90 Million, the usage rate amounted to 900 Billion hours. Ultimately, what matters is how people react to your app once it is on their device. You will have to concentrate on these questions – What is the time that the consumers are spending on your app? Are they getting hooked on your app? What is the bounce rate? At what stage are they leaving, what are the triggers?
Takeaway: When your app has left its early stage, focus on increasing the usage rate and downloads will automatically increase.
B. Your app will decide whether you want MAU, DAU or WAU.
If your app is just an extension of your website, you will have to stick by MAU rate – Monthly Active Users. However, if yours is a travel, entertainment, communication or shopping app, knowing the MAU won’t suffice, you will have to look out for the Daily and Weekly Active Users who are frequenting your app.
The knowledge of these three metrics will help you make a strategy of what are those time periods that need your attention or an extra boost for the consumers to come on your application.
Takeaway: Analyze the rate of Monthly, Daily, and Weekly Active Users on the basis of your app type. Knowing these three will be enough to decide how you should strategize.
C. Time Spent and Session Rates
It is unquestionable how important it is to know whether consumers are or are not spending time on your app. While it is important for all app categories, entertainment, finances, and on-demand are the three types which specifically need to have a high session rate.
What makes this metric so important is the fact that it is the only way to know whether people are loving your app or not and single-handedly decide the lifespan of your application on user’s device.
Takeaway: The second you see any fluctuation in the amount of time spent on your app, you need to act. Never let it go too low.
This is about the three metrics.
Now, this is how you need to draw a strategy – With the focus on retention of users, read data on every 5-day interval, this will help you decide your growth chart and make sense of where the business is headed and what needs to be focused on.