Do you remember the time when there was no internet on mobile phones, and only desktop computers were used to access the internet?
Well, if you have lived that long, you would know ‘how drastically the tables have turned on that.’ Now, it’s nearly impossible to find mobile phones without internet.
The internet on mobile phones is convenient and easily accessible. According to a report by Mary Meeker, ‘Americans spent over 3 hours using the internet on their phones versus 2 hours via desktop in 2016.’ As the internet usage on mobile phones has grown, the number of apps available for customers has ‘also exploded.’
Today, we have an app for almost everything. As per Statista, mobile apps are predicted to generate up to $189 billion by the end of 2020. The growth in the number of apps has also made the competition more ‘cut-throat.’
Now, merely creating a mobile app isn’t enough to thrive in the industry. After all, ‘a lot of players are playing this game in the market!’
However, you can still stay in the game if your app abides by specific key metrics. Here are the most important ones.
1. App Crashes
Ideally, your app should never crash. Never. The last thing you would want is for your app to crash when users are operating it. Yet, app crashes are quite frequent.
The crash rate of an app refers to ‘the average number of crashes per total app load.’ Factors that affect this rate include app usage, type of app, and its maturity.
While it is a pipe dream to aim for, no app crashes at all. However, your app can still be successful ‘if you keep the app’s crash rate under 2 percent.’
2. Response time
Today, nobody likes to wait – even for seconds. That’s the pace of life, and people can’t tolerate anything that slows this pace, not even the internet. It is why Google now demands that websites feature less load time. The same philosophy also a mobile app.
In mobile apps, the response rate of the app to user requests has to be instantaneous. This is where terms like Application Programming Interface (API) latency and end-to-end application latency come into play.
The former refers to ‘the total time that passes between the placements of a request for action versus the response.’ The latter refers to ‘the end-to-end response time. Both these metrics must be approximately 1 second.’
According to the App Attention Span Report, apps that have a total response time of more than 3 seconds tend to feature an abandonment rate of at least 60 percent.
3. Number of users
One of the most basic measures of the success of an app is ‘the number of users.’ The more people use your app, the more successful your app will be. Simple! The increase in the total number of users will result in a ‘dedicated user’s base’ whose first and last choice will be you, and only you. For example, a gaming platform like Unlimited Gamez Mo has managed to earn a dedicated following of users because they offer a wide variety of games for a nominal subscription fee.
Apps can track the number of monthly users and total downloads. It allows them to gauge user engagement of the app.
There are a lot of ways an app is downloaded. This includes desktop, tablets, and mobile. Your app must be accessible on every device to attract maximum users. Most mobile apps of today are compatible with other devices.
By tracking down where you get most of your users from, you can make better decisions about which channel to focus on in the future.
4. App Retention
A lot of app developers take into account the number of downloads as a key metric. However, what matters for the long-term success of an app is the ‘retention rate of the app.’
What does the retention rate mean? It measures the number of users that use your app after downloading it. In a world where users download apps, use them once, and forget about their existence, app retention is a significant metric.
Sadly, it is also a metric that is tough to achieve. According to a study conducted by Localytics, ‘43 percent of users return to the app within the first month. The figure drops to 29 percent by the second month.’
To make use of the metric, measure the app retention rate daily, weekly, and monthly. It should be aligned with your marketing campaigns. It will also allow you to craft a better retention strategy.
5. Lifetime Value
It all comes down to one question: Are app downloads and retention rates enough for the financial sustainability of your business?
Monetary considerations are vital. It is essential to find ‘how much value your users are bringing to your app.’ After all, as an app developer, you must have borne the app development cost and marketing expenses, etc.
Two metrics to measure the success of an app are ‘Cost per Acquisition (CPA) and the lifetime value of a user. You can calculate the CPA by dividing the total cost associated with the app by the number of acquisitions. On the other hand, the lifetime value of a user is the revenue generated due to the user.
Your app can be valuable if its lifetime value of the user is higher than the CPA.
6. App reviews
Word of mouth is the ultimate measure of quality these days. Consumers are now skeptical of paid promotions like ad campaigns. They tend to value feedback and peer-reviews more. After all, an unbiased user is much likely to be truthful than the brand itself.
For the success of a mobile app, you must ensure that your app gets a quality rating and positive reviews. Encourage users to leave reviews. Generally, people with a positive experience are less inclined to tell others about it.
According to a report, ‘satisfied users are 22 percent less likely to review than unsatisfied customers.’ So, getting good reviews might require a bit of cajoling.
However, this hassle is worth it. How can you increase the likelihood that people review your app? By making the process as easy as possible.
Ending Remarks: Create a successful app
Now that you know which metrics to focus on to create, launch, and track a successful mobile app, you are ready to enter into the app industry and thrive in the competition.