After successful launch of your app, you are worried about your performance and overall value of the application. For this, KPIs (key performance indicators) and app metrics are the two things which can be used to evaluate this performance. Now, the question arise what would you chose to select best KPIs to measure them?
In ideal situation, tracking of KPIs is a part of development plan as this can unveil you the positive and the negative sides of the app performance. In today’s time, there are a lot of metrics available for review that you must use few of them to have a proper evaluation. So, there are some Key Performance Indicators (KPIs) should marketers look for in order to gauge performance on mobile:
There are some basic parameters of KPI’s, which are needed to calculate like: Installations of the app, Keywords or Phrases used to find and then download the app in the App Store, for how long a user interacts with the app, average revenue generated per user, un-installations of the app etc.
Accessed time after installation:
Although installation of app is the major concern while observing KPI but usage of application after 24hrs or a week can better predict the future of the app. If the user doesn’t access the app during the first week, chances are they won’t do so ever again. Sometimes, it becomes obligatory that marketers must provide some kind of stimuli during the critical first week in order to solidify the relationship with the user immediately after the installation.
Gaining trust by permission granted:
When user allows permission for the app to access personal information that means there is bond of trust that has developed between the user and the app. This information may include contact list synchronization, receive messages etc.
Number of subscriptions / registrations:
Many applications only rely on a subscription model, like magazines, in order to generate a stream of revenue. By asking for a smaller sum of money on a continuous basis, many applications are able to generate significant revenue with this very scalable business model.
Frequency of the accessed pages or screens:
Number of pages or screen visits, is an important engagement metric for generalizing the application. Various applications these days like shopping app, news app or magazine uses number of screen/pages visit as a KPI. So these are not limited to any specific applications now. In most retail applications, page views are the best KPI’s for the customer value and actual business performance. Some of the most successful applications, like Facebook and Twitter, spent years focusing exclusively on engagement metrics.
Social sharing is also an important KPI in publishing and shares a vote of confidence from visitors in the content they are reading and sharing it with the friend circle and followers. Even the editorial decisions are based on the social shares of a piece of content.
The main objective is not only to make a one time purchase but to maximize customer for lifetime. This will generate a continuous stream of revenue through frequent sale.
The bottom line is that there are a lot of metrics out there for measuring the performance of your mobile applications and help us to gain a good understanding of performance and value. The items in the above list are the best KPI’s you should measure your mobile app with at a minimum. Rather than thinking of KPI’s as gospel, focus on just the user behaviors that really matter and pick the most critical KPIs for acquiring new users.