Analytics is an integral part of any advertising campaign, regardless of what you advertise, whether it's homemade bread or mobile applications. Cryptoauxiliary has put together a list of key indicators to consider when building and updating your marketing strategy.
The mobile app metrics allow you to understand how users interacted with the interface, assess the effectiveness of your creatives, and manipulate deliveries to improve existing tactics as needed. We have collected the most important KPIs for mobile apps.
1. Audience Acquisition
This group has three key elements that show how your app's audience grows.
download. The index summarizes the number of app downloads over a specific time period.
new users. This indicator shows the number of new users that have appeared in a day or a specific time period. Only users who have opened the app at least once can be called "users". A total of
users. Summary index. This reflects the number of new users for a particular time period. By
alone, these indexes do not provide analysis values, but they are important for calculating other KPI metrics.
2. User retention
Let's face it. This is a common situation for new users to install and try out their applications. There are two ways for users to like or dislike the app. If you don't like it, you can forget about the app or just uninstall it. For this reason, it doesn't make sense to estimate your audience based solely on the "total number of users." The following indicators, retention, should be considered in actual estimates and calculations. Percentage of users who opened the app on the Xth day after installation. It is usually calculated in 1 day, 1 week, 1 month.
The index of this metric, calculated over different time periods, helps to draw attention to the weaknesses of the project at different stages of the user experience.
1 Day Retention: The reason for "ignoring" an app is usually an interface issue. For example, a user may not know what to click. Therefore, be sure to make changes to the interface to maintain the par value. If you do this correctly, good results will come soon.
7 Day retention: If the rate is much lower than the app category's acceptable rate, analyze the product usage scenario.
28 Day retention. If the user returns to the app within a month, it's a sign of user satisfaction. However, if the rate is below average, this indicates a strategic disadvantage.
However, keep in mind that IOS and Android have different acceptable retention rates. For example, IOS has a daily retention rate of 44% to 10%, while Android has a daily retention rate of 41% to 15%.
Churn rate. This metric shows the percentage of user loss. In this case, churn does not mean that the user has installed the app, but that it no longer opens the app. It can be calculated as follows. Churn rate = 1 Retention rate
Uninstall rate. Yes, this metric shows the uninstall rate of your app. You can count it by dividing the number of uninstalls by the number of installations for a particular time period.
3. User Activity
This section describes user activity and engagement metrics.
DAU / WAU / MAU. No, it's not a mantra. It shows the number of unique users who opened the app during the day, week, or month.
Sticky factor. That is the so-called engagement rate. Helps you estimate the frequency of your app's entries. Just divide DAU by MAU or WAU.
Sessions. the total number of apps running in a given time period.
Average session length. The total length of all sessions for a given time period divided by the number of sessions. If you plan to make money from advertising, it's a very important indicator.
Lifetime. This metric defines the number of days a user spends on the app. The first and last days of entry must be taken into account.
4 Monetization Index
The indicators in this group are directly related to your sales. Evaluating this data allows you to evaluate how often and how much your users pay. This allows you to see how effective the monetization method is.
Paid Users-The number of unique paid users in a particular time period.
Paying Share – Percentage of one-time payments to the total number of users.
Paid conversions – same, but among new users.
Transaction — Total number of payments in a particular time period.
Transactions by User — TBU = Transaction / Payment User.
Gross — The sum of all user payments over a specific time period.
Revenue – Total User Payments for a Specific Period minus Business Charges
ARPU- Average Revenue Per User = Revenue / User. When talking about users, keep in mind that it means total number of users, new users, and churn.
ARPDAU- Average Revenue Per Active User Per Day = Revenue / DAU
ARPPU-Average Revenue Per Paid User = Revenue / Paid User.
Average check-AC = Revenue / Transaction. The average amount of payment.
Lifetime value- LTV unit value per user for a lifetime. This is one of the most important indicators, including advertising profitability and investment efficiency. There are many calculation methods, but the most common method is provided: LTV = ARPU * Lifetime.
5. Advertising efficiency
CPI. Cost per installation = cost of advertising / download. This is a fairly relative index, as downloads usually do not match new user downloads.
eCPI. Similar indicators, but with virality taken into account.
K factor. Virality index. Users share information about the app in a variety of ways, including links to social media and invitations to friends. Therefore, Kfactor = Recommended number * Percentage of people who became users.
CAC. Customer acquisition cost is a measure of the cost of a user attraction (here, paid users are counted). Therefore, the cost of advertising / paid users.
Remember that the details are not too small for analysis. Do not forget, that what is really important while analyzing, is not metrics themselves but their right interpretation.
Keep track of what your audience is really interested in and constantly improve your application. Only this way you will be able to reach a self-sustaining level and stop depending on any investments.