10 Ways You Can Use Analytics to Maximize Your App’s Performance
The world of mobile apps is its own kind of ecosystem. Like living beings, apps interact with users and make an impact on their lives. There are conversations, transactions, buying and selling, feelings, rejections, and a whole lot more. Apps are the tools you use to engage with your customers without even seeing them. You know that understanding the customer’s behavior is central to improvising your selling strategy. How do you do that with an app, without even seeing your end user? Analytics is your answer.
When used smartly, analytics is your most powerful weapon for understanding and even predicting user behavior. Based on this data, you can sharpen your value offering, marketing, and user retention efforts.
Here are ten ways you can use analytics to maximize your app’s performance.
1. Identify On-Page Behavior to Assess Key Metrics
Effective on-page analytics will tell you exactly how much time a user is spending on each page and what they are doing there. Bounce rate and exit rate, average time spent on page, areas that get clicked most are all metrics that tell you how users are interacting with your app, what they like and what turns them off. Use this data to make clever upgrades and boost user engagement with each upgrade.
2. Track Total Downloads and Retention Rates
Even though paid apps are a dying breed and hence, pay-per-download isn’t too relevant a metric, knowing the total number of downloads does help you gauge how well your app is being received. You can definitely sharpen your app marketing efforts and work harder to promote app discovery when you have this information.
A more actionable metric is the retention rate. Knowing how many users kept the app for a period of a week, a month, or more tells you how successful your app has actually been. A troubling reality is that a large number of apps that get downloaded are deleted after being used once. Knowing how many users uninstalled your app soon after download will help you make better upgrades and sharpen your retention efforts.
3. Track User Lifetime Value to Identify Loyal Customers
As opposed to measuring how much money users spent on your app in a day or week or month, measuring user lifetime value tells you just how much each individual user spent over the total time they used the app. This helps you understand how much revenue that user can bring in the future and customize your value offerings and rewards for the highest spending users. Keeping a loyal customer is far more important than acquiring a new one and your highest spenders must be made to feel special and cherished. Measuring user lifetime value helps you do just that.
4. Track App Performance Analytics to Keep Your App Flawless
Your core product offering is, by far, the first thing you need to get right for any success with your app. An app must perform well for any other marketing or retention strategies to have any effect. Every single performance fails, like failure to load or app crash, leads to a sudden and massive drop in user metrics. Once you’ve created a good app, the only way to keep it going is to constantly monitor app performance. A real-time data feed of the minimum viable performance metrics like app crashes, API latency, app load time, end-to-end application latency and network errors, is absolutely indispensable.
While app stores do provide some basic performance metric data, it is limited to crash data only. Your company must adopt solutions that provide real-time data and precise information that help you troubleshoot issues as they arise to keep the app working flawlessly.
5. Watch Ratings and Reviews to Gather and Act on Feedback
Your app’s rating and reviews are the first metrics that potential users judge it by, and that’s what decides if they will even download it in the first place. It is, therefore, one of the most crucial metrics that you must begin monitoring soon after the launch.
As you know, most users do not usually leave a rating or review. Tracking this metric can help you mobilize a proactive strategy for soliciting reviews by letting users know that their feedback is important to you. Tracking the number and nature of reviews also allows you to use the release notes space to tell users that you’ve paid attention to their feedback and made the right fixes. Adapting the verbiage of the release notes to directly address the points raised in reviews helps improve the future ratings of your app.
6. Track AOV (Average Order Value) Per User for Sharper Monetization Strategy
At the end of the day, an app’s goal is to convert. You are running a business here and a business should make profits. Tracking the AOV (Average Order Value) helps you determine the number of members who are opting for paid services. This will help you fine-tune, tweak or strengthen your revenue strategy. You can find out if in-app purchases are a better strategy than a premium membership. You can judge if offering a price cut or discount coupon would be a good idea.
This makes AOV a vital metric in your end goal strategy. Users who don’t ever pay a dime on in-app purchases help you indirectly by driving engagement. Those who pay once, however, will be willing to pay again if you customize and personalize your offers. Paying attention to this metric will, therefore, be the most rewarding thing for your app.
7. Monitor Drop-Off Points to See What Is Ticking Customers Off
Now that’s another big player. App uninstall data will tell you how many users bailed out on you. Without more nuanced data, however, there is little you can do about that. If you know the exact point at which users are leaving your app, there’s a lot you can do.
Knowing the drop-off points can help you fix the issues in that page during upgrades, so that other users don’t follow suit. In addition, knowing precisely what made a user drop your app lets you personalize your re-engagement strategy for maximum impact. For example, if you know that a user dropped off because there were no points left to play the next level and a purchase was required, you can send them an email offering free points to resume the game. It is more than likely that they will come back.
Giving users easier payment options like eWallets is more likely to get them to pay if entering credit card information seems like a pain point. Knowing what is causing users to drop off lets you solve that hitch and get things moving smoothly.
8. Monitor User Conversion Points to Reinforce Strong Points
Just like drop-off points, if you know what is making users convert, you can strengthen your efforts in that direction to get more users to convert. When you know what works, you have the key to success. Knowing user conversion points lets you strategize your monetization policy and bring more conversions by identifying fertile sources.
9. Effective User Profiling – Identify User Types Based on Behavior
Without turning into FBI-grade psychologists, in-app behavior tracking can help you successfully profile users. Some users will just not pay for a service, but will give you five-star ratings, good reviews and plenty of word-of-mouth advertising, while others will be willing to pay the price, but won’t tolerate an interruption in their experience. Knowing highly nuanced, distinctive user behaviors let you personalize and customize your offers to a precise degree to give every user just what they want.
10. Event Tracking – Find out If a Specific Feature Is Working Right
Event tracking is another significant metric that lets you assess the efficacy of each feature. An event is every specific interaction between an app and a user that drives a specific action. Adding to cart is an event, rating on the ‘Rate Us Now’ prompt is an event. With event tracking, you can find out how well every individual feature is being received by users. Based on this data, you can tweak or completely change certain features.
For instance, if you just introduced the ‘Rate Us Now’ popup, event tracking will tell you if users are responding well to it. If they don’t, you may consider revising the prompt, changing the verbiage or reducing the frequency of its appearance so that the user only sees the prompt once in a month or so. This will not test a user’s patience and increase your chances of getting a positive rating.
So these are ten of several crucial metrics that help you sharpen your app’s performance as well as marketing, giving you a distinctive edge over the competition. As they say, the real work begins after the launch. Stay on top of how your app is doing to fine-tune every aspect of it and give your users exactly what they desire.
Author Bio: Ravin Lad is a Digital Marketing Strategist at MoveoApps, an iPhone app development company. He enjoys writing about Technology, marketing & business trends. He is a tech enthusiast and loves to explore new mobile apps. He can be found on Twitter @RavinLad.