1. Revenue Generation Per Average User
If your mobile app has a way to generate revenue, it’s essential to calculate the current lifetime value the app has achieved since its launch. Calculating your revenue per user shows the success of your app and provides continuous knowledge of your annual growth progress, and helps compare your success versus the competition.
2. How Many Daily Active Users
Knowing your daily active users determines how indispensable your app is for those who have downloaded it. This metric refers to each person using the app regardless of the number of sessions, and it’s one of the ways to predict a successful app’s future growth.
3. Your Churn Rate
In 2020, the average mobile app lost 89% of its daily active users within the first seven days after installation. Within 30 days, that number jumps to nearly 95%. Every lost user has a different reason for uninstalling your app. The churn rate is a metric that allows a business to determine the percentage of customers actively choosing to stop using your app.
4. Your Retention Rate
Your retention rate is the number of those who return to your app after a specified period and how long it takes them to return. Knowing retention can give your business an insightful metric that reflects the success and can also help create new ideas on how to grow users for the application.
5. Know the Cost Per Acquisition
Most businesses want to stay on top of app costs and how much it’s producing for the investment. While there can be a high cost to acquiring users, apps can have a way of monetization themselves in the form of downloads, ad impressions or clicks, purchases, or subscriptions. The idea is to measure the net profit customers generate in ratio to the cost of acquiring them.
Measuring your mobile app success is vital to mobile app development. And, getting an accurate picture of how your users engage with your mobile app can help your business continuously deliver value. We can help get you started; contact Becky Faith at 502.465.5104 for more details.
