Like every marketing channel mobile has its own set of metrics one can measure the marketing campaign against. Below is a list that puts forth the essential marketing metrics that matter the most. Afterall, data is the lifeblood of all marketing campaigns and any competent mobile marketing platform will equip you with the capability to track them which is extremely helpful for marketers or app publishers who venture into the world of mobile without any direction or knowing what they want.
Average number of daily and monthly users
The app user count is essential. It is the regular users who add value for your app. Dig into and understand how active users use your app. It is all about engaging your users because only an engaged user is more likely to bring in revenue and refer your app.
Average Revenue Per User – ARPU
Average Revenue Per User is the amount of revenue each of your active customers (on average) generates.
One can calculate this by dividing the total revenue generated within a given timeframe with total number of active users within a given timeframe.
You can use the results with Cost Per Install and Cost Per Loyal User.
This is the time length a user uses its app from opening it to closing it. Once you observe the session length you can identify the phase or spot where the user abandons your app. There is no benchmark for this metric but it majorly depends on the time it takes for the app user to convert.
Cost Per Install – CPI
This is calculated by dividing the ad spend with the number of new installs directly tied to the ad campaign.
This metric basically measures your paid installs, the customer acquisition costs for customers that installed your app on seeing an advertisement of it.
Cost Per Loyal User – CPLU
This one is obtained by dividing the ad spend with the number of loyal users in response to ads.
In order for your marketing campaign to be effective, your ARPU must be higher than your CPLU. Mobile marketers must essentially acquaint themselves with these two metrics.
This is the time users spend on your app on a daily or weekly average. Monitoring these trends are going to provide you with valuable data and keep in mind that right amount of time differs from sector to sector.
The number of users who download your app from a particular course are called acquisitions and tracking this metric helps you see which channels and campaign result in triggering users over a passage of time.
Positive feedback ratio
This metric depends on the answer given to a one-question survey posed in the app to your mobile customers. It is calculated by dividing number of users who liked/loved your app with the number of users shown the engagement prompt. This measures the overall customer experience.
Tracking user flow (user’s navigation through the app) of your app lets you ascertain which ways/patha are frequented by them and improve them further. When enhancing your app experience, start at the screen when most users quit your app before conversion.
This is the percentage of users who return to your app after the first usage and is calculated by dividing the number of people who use your app within a set period of time with the number of people who used your app within a previously set time.
As per Localytics, 36% of users are still using apps one month after downloading. Even if you draw a good amount of users to your app, it won’t lead to much if they don’t stay, the stickiness matters. For a focused marketing approach split your retention rate based on device, segment, campaign and purchase frequency. Knowing your retention rate will give you a better understand of your current customer base and the due success or performance.
Lifetime Value – LTV
This is the expected revenue from a user over due course of their app use and when you know this value you can calculate how much you should invest in getting a new user which is defined as the Cost of Acquisition.
The value is derived by multiplying the average value of a conversion into the average number of conversions in a time frame into the average customer lifetime.
One need to employed this as a targeted metric and compare the LTV of users across different sources.
If you grasp these metrics, you will have immense control over increasing your app revenue. You will be able to increase your profits by focusing more on retention than acquisition. Align internally to on what indication or measure of return you need to focus on for any kind of calculation relating to Return on Investment.