Mobile app marketing KPIs you should measure
Measurable improvement to maximize app revenue is the goal all marketers are looking to attain. It is achieved through measuring proper key performance indicators (KPIs) in mobile app marketing. If you can measure it ' you can improve it, and further track the improvements over time.
The key performance indicators depend on different factors that influence which KPIs you are measuring ' subscriptions, offers, niche, app usability, etc. It takes time to establish which will provide the most beneficial insights and take your app to the next level but here are some to keep.
The four most crucial parameters every mobile app marketer needs to look at to impact the future for a better shot at success are churn rate, average revenue per user (ARPU), daily active users/monthly active users (DAU/MAU) and customer acquisition cost (CAC).
Churn rate tells you the percentage of users who decided to quit using your app, within a particular time frame. You are looking to have a lower percentage than your growth rate, if it is not ' it is time to start looking at potential reasons they are not staying with it. Aim to constantly monitor churn rate to trigger actions to fix it early as you discover significant changes.
To understand how valuable your users are, it is important to measure the average revenue per user, that shows the ratio between the lifetime revenue of the app and the number of lifetime users. If you sell monthly subscription or however often a user is expected to use your product, use that as your time frame or whichever period suits your business model.
The daily or monthly average number of active app users can tell a lot about the users. Which days are they most active on or any other patterns that can provide an insight into user behaviour ' adds valuable information to create a stronger competitive advantage.
Whether you are working on acquiring new users organically or through advertising, attending events or any other marketing help, customer acquisition cost not only tells you information about the profitability of your business model but the actionable steps and changes you might need to make to it more fruitful and cost effective.
If you are noticing CAC is significantly rising, it can be a sign to change your user acquisition efforts and strategy.
Starting to measure these KPIs in 2019 in mobile app marketing will help you to reach your performance improvement goals and focus on actionable steps. Comparing the data and looking at it as a whole will show a bigger picture of where your app performance is and help you succeed in a saturated market. [FF]
Vera Belinskaya is the Marketing and PR Manager of TAB, a mobile performance media company.