Learn about the factors that contribute to measuring Mobile App Marketing
To stay ahead in the race, the mobile app developers mainly focus on acquiring the highest number of app installs in regards to the minimum spent cost per app install. And establishing an active user base while completely relying on mobile app updates and push notifications is a recipe for failure. So in this article, we will be discussing how to measure your mobile app marketing strategies through KPIs and efficient ways to market an app.
First thing first, as an app owner you should not be obsessing over the number of app downloads and the cost that is spent per install. But rather focus on those app users that will not only install your mobile app but also use it on a regular basis for utilizing the services that your app is offering. Some of the services that are provided by mobile applications are creating profiles, online shopping, making reservations, sharing personalized content on the internet etc.
The above image shows the varying rate of average cost of user acquisition per user while comparing the mobile-first and conventional applications.
According to a report released by VentureBeat Insight, it is seen that more than 70 percent of the total apps are able to generate approximately 5,000 app downloads. Other than that, about 85 percent of the people who install an app tend to uninstall it within a time span of 30 days.
If you want to effectively measure your mobile app marketing tactics then you need to be aware of the different types of KPIs that are involved in the process.
The term KPIs stands for Key Performance Indicators these are the ones that help you in figuring out the real value of your mobile app and how you can assess the performance of your application from different perspectives. Here are some of the most important mobile app KPIs that are used to measure the performance of a mobile app:
The app retention rate can be defined as the total number of users that come back to use the app after a certain amount of time has passed. App retention can also be referred to as the long-term success for a mobile app i.e. longevity of the app. The formula for calculating an app's retention rate is as follows:
Retention Rate = ((CE — CN) / CS)) X 100
Where CN is the number of new users acquired during a set period of time, CE is the number of users stayed by the end of the time period and CS is the number of users that came during the initiation of the time period.
The CPI (Cost Per Install) is used to measure your app's user acquisition costs for the people that have installed your app after coming across a promotion tactic like an advertisement for your app etc. This primarily focuses on the paid app installs rather than tracking the app installs that are organic in nature.
On the other hand, the CPA (Cost Per Acquisition) doesn't really focus on the conversions that are occurring because of a new app user. But it considers user behavior when activities like joining a subscription, making an in-app purchase, upgrading to a PRO version of an app etc. takes place.
Stickiness is an interesting KPI that a majority of app publishers don't think of as an important measuring factor. Basically, the stickiness of the app shows you how often are people using your mobile application.
Stickiness = DAU / MAU
The formula for calculating the app's stickiness is quite simple and you only require two variables for it. These variables are MUA i.e. Monthly Active Users and DUA which are the Daily Active Users who engage with the app.
Session Depth is the number of interactions happening in a particular session or in other words the distance covered by user paths before their app session is complete. For example, the session depth of upgrading in a gaming app is more than using the app for a shorter time period to view its content.
Whereas, the session interval of a mobile app signifies the amount of time that has been spent in between the sessions users such as the weekly and monthly user visit of the app. The short intervals are considered much better in comparison with the longer intervals. For example, if your app offers new content every couple of hours then longer sessions are great otherwise shorter intervals are desired.
Registration is one of the most crucial key performance indicators because it helps in building a fan base or support community for the app. You might have even noticed that now almost every other app requires user registration for accessing the mobile application. With the help of registration, you can also collect users' basic information like e-mail addresses, which can be later used to send newsletters and updates regarding the app.
The above image shows the mobile applications that are a great example for apps that offer subscription services to their customers like Netflix and Dropbox.
To get a subscription to an app is a quite popular way of generating revenue through your web or mobile app. Several apps offer the facility to subscribe to new updates from the app, which can be in the form of video content as well. As an app owner, it's your responsibility to keep track of users that are subscribing and unsubscribing to your app to understand the user behavior regarding your application.
Other than above-mentioned KPIs there are more strategies like ASO (App Store Optimization), social media marketing, app promotion etc. which requires in-depth analysis on a regular basis through specific performance measuring tools.
Sometimes measuring your mobile app marketing can be an overwhelming task to perform on a regular basis and that's why a number of brands and organizations turn towards professional app. These Mobile App Marketing Companies can save you from the extra efforts and help your app achieve new heights in app stores.
In fact, the app marketing agencies offer a ton of other benefits as well, such as providing exclusive marketing tools, various industry connections, marketing expertise and a new outlook with app marketing campaigns. We really hope that with the help of this article, some of your doubts regarding how to measure your mobile app marketing strategies would have been cleared.
And if you still have some queries regarding the concepts of app marketing and how it works then feel free to leave a 'Comment' in the section down below and we will get back to you at the earliest.
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