Mobile app analytics includes the scope of must-do tracking and analysis activities marketers perform after launching the app to the market. The operations are aimed at evaluating app performance and understanding how users interact with the product, what features they like and what should be modified to enhance user experience.
Analytics for apps allows a product owner and a delivery team to collect and analyze essential metrics related to product usage and gain insight into user behavior. The results help a company reconsider product functionality to provide a better user experience and build a more efficient marketing strategy to attract new users.
When applying mobile app analytics, the team can answer the following impactful questions:
- How do people find the app?
- What’s the total number of users?
- How many new users have downloaded the app during a certain period (week, month, quarter, year)?
- How do users interact with the app and what are the most used features?
- Which marketing channels generate the lion’s share of users?
- Are there any issues that prevent users from having a smooth experience with the app?
- What are the retention and engagement rates?
- What features should be added and/or fixed to improve app conversion?
Basic mobile app analytics metrics
Here is a small list of some basic mobile app analytics metrics:
- Install rate – shows the number of app installs (usually per day).
- Registration rate – shows the number of new account registrations.
- Activation rate – reflects the first action made in the app and shows how the onboarding process works. When the app is downloaded but is not used further, it may indicate some serious interface problems.
- Active users rate – shows the number of active users per day, week, or month. This metric estimates the dynamic of user engagement.
- Retention rate – shows the number of users who still use the mobile app after a period of time.
- Average session duration – shows the average amount of time that users spend using a mobile app per session. High average session duration usually correlates with good user engagement and indicates an app’s increasing value.
- Conversion rate – shows completed in-app events. In-app purchasing is the most important conversion event for a business.
- Churn rate – shows the number of users who deleted your app.
- Exit rate – shows at which app screen users dropped off
- Cost per install – shows the funds you spent to get a single download.
- Customer lifetime value – shows how much value a customer generates for your app until they stop being your user.
- Average revenue – shows the revenue a user generates for your app
Why should companies set up mobile app analytics?
To get a return on the app development investment, a company should conduct a preliminary product analysis by setting up mobile app analytics. This helps gather essential app metrics and make winning decisions on a large scale.
Advantages of using mobile app analytics
By calculating the marketing investment cost and income, companies can assess the most important business metric, ROI (return on investment), and determine whether expenditures into product development and promotion are worth it.
With automatic app analytics tools, it’s also possible to define core traffic sources and understand which marketing strategies perform best. Collecting user behavior data helps dive deep into what customers need, allowing devs to personalize user experience and implement in-demand solutions, thereby, increasing retention and conversion rates.
The use of app analytics tools and services
Using automated app analytics software, companies can track all important business metrics and get data-driven insights into their app’s performance. Choosing a specific app analytics platform appears to be a challenge sometimes due to a misunderstanding with its data and functions. Marketers tend to avoid the use of app analytics losing their potential value and advantage. At this point, you should know the key and deep linking features of an app analytics tool and the level of support it has to offer. Moreover, an awareness of your individual app needs should be considered as well.
With an understanding of the typical app analytics world, we can proceed with selecting a leading mobile analytics platform that provides dynamic and essential tools, metric tracking and simplified SDKs that benefit your application.
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