Step up that ‘app’ approach for 2020
There’s more to mobile app success than having a killer product and a marketing strategy
dubai — As at the third quarter of 2019, there are about 2.47 million apps in Google Play and around 1.8 million in Apple’s App Store. Imagine the competition! So, having a killer product and a perfect mobile marketing strategy won’t make your app profitable. While it may not guarantee you success, but it definitely indicates a good start to the challenging journey of making your app successful:
User acquisition metrics
For an app to grow, marketers need to focus on and manage their acquisition channels. Measuring acquisition will help track which
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campaigns and channels (organic vs paid) result in the highest number of valuable users in the long run for optimisation.
User activation metrics
Activation is an important pirate metric and tracking this will indicate the percentage of users who downloaded the app and actually launched it. Gamify your activation process; enhance user onboarding; incentivise activation with promo codes; and offer access to exclusive in-app content to improve reach.
User engagement metrics
User engagement is done right when your users realise the actual value of your mobile app. Measuring the user engagement actions will illuminate the true value your app users gain. Daily active users and monthly active users are directly related to app stickiness and are considered to be critical metrics for an app’s long-term growth.
User retention has to be the north star metric for data driven marketers. According to Gartner, 80 per cent of your future profits will come from just 20 per cent of your existing users. For every user you retain, your profit grows by 1 per cent. In order to maximise these efforts, you first need to understand which retention metrics to track and how to measure them.
Retention rates give you a bird’s eye view on what’s working and what needs improvement; churn rate is the number of users who have uninstalled your app or stopped using your app at any given period; and customer lifetime value gives actual monetary value of the customer, which helps build an effective loyalty programme to identify how much you should spend to retain them.