As the owner of a mobile app business, measuring the results of key metrics in your business will clearly indicate areas that need attention and those that are performing well; both of which lead to improved business outcomes. To get started, use your business plan as a reference; if you don’t yet have one, use this mobile app business plan as a thorough and comprehensive guide.
You’ll want to closely monitor and analyze the following metrics to position your mobile app business for improvement and growth:
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1. Activation Rate
This metric reflects the percentage of users who download and launch the mobile app. It is the key to, first, gauging why customers activate the app and, second, to making improvements if they don’t.
2. Retention Rate
Equally important, this metric is measured during a period of time, such as monthly, weekly or daily. It calculates the number of customers who remain engaged and active within the app.
3. Churn Rate
Including drop-offs and uninstalls, this metric offers the total percentage of customers who disengage from the app. Use this metric to make improvements or app revisions, as needed.
4. Stickiness
The measurement of stickiness includes how likely your audience is to become engaged and remain engaged. The results of this metric are crucial in forecasting the growth rate of your mobile app business.
5. Session Length
Often linked to stickiness, this metric measures how long your customers remain in the app during each session. The length of time is an indicator of customer satisfaction and whether or not drop-off points should be analyzed for revision.
6. Active Users
This metric measures how many successive days users are actively engaged in the mobile app. Whether measured by days, weeks or months, it offers the number of times users engage, leading to your informed decisions to make improvements that could increase that rate, if the metrics so indicate.
Each of these metrics can be mastered for reviewing, measuring and assessing the strength of your mobile app business. With continued attention to these metrics and consistent monitoring of the results, you’ll be positioned to make informed decisions that will maximize your success.
