After all possible literary material available on why a mobile app is a must and what are the incredible returns that await you post you employing a mobile app for your business, I’m sure you’ve made the big move. Congratulations! It was definitely a wise decision. Now that the app is already being installed and used, you must be eagerly waiting for the benefits to begin pouring in. As a company, we succeed if our business model is perfectly working. In case of a mobile app, it stands equally true. If your app strategy is perfect, surely your app is worth the label of success but what decides whether your app story is a success or not?
It all begins with what were your expectations from the app. Is your app just a mere method to help your existing customers or did it have a higher purpose?
Whether or not, the actual results expectations adhere to the estimated results, we do have a few services to help us extract some information with regard to the app’s performance. The most common of them all being the Google Play Store. Well, if you are in search of some real data here, there are a lot many diverse options to utilize and find the data you need but before you zero in on a particular service, it is important to you to decide on what kind of information is it that you seek. Every on demand app solutions company is different and they all have different sets of criteria to judge app performance based on the strategy. Even then, the most common indicators that help determine whether your business mobile app is a success or not are as follows:
1. The total number of downloads: Though this figure may not be an exact indicator of your level of success, they definitely kick start the evaluation process for you. They help predict if the mobile app is on the right track. It is important to understand that it isn’t a mandatory feature of an app to convert itself into a minting machine. It is important to first build a decent customer base before expecting an immediate monetary result from the app. A strong customer base is the first step towards converting your mobile app into real money. Most of the notable mobile apps that have done well in the market have taken enough time to first gain recognition before really entering the monetary hold.
2. Average users per month: It is essential for your company to track the average monthly users of the mobile app. The most successful mobile app companies have tracked, recorded and analyzed this figure to rate the success of the app. It is quite interesting to note that most companies that fall within the realm of similar business lines and popularity share similar stats here. Their ratio of average monthly users to the total number of downloads also act as an evidence. Monthly average user stats tell you if your app is getting enough traction. It helps us understand if the content of the app is useful enough and does it have the power to attract users back to itself. It tells if the app is high on user interaction. This metric helps us analyze the performance of the mobile app to a great extent; a powerful metric that is frequently employed by big fishes to track their progress. It’s definitely a metric worth employing for your business on mobile apps.
3. User Engagement: Almost every second person with a smartphone can download your mobile app, but that doesn’t determine your app’s success. Any person could just download the mobile app and leave it unattended. Well, your app definitely wasn’t created to decorate the mobile screen! Mobile apps that have succeeded at their deed are the ones which have had the potential to invite users to further engage with it. Pay attention to the total visits and the time spent by an average user during such a visit. Also, try and analyze certain trends and patterns like days in a week that attract more visitors. This will help in further analysis and decision making.
4. The Demographics: Apart from quantitative insights, it is also important to search for key demographics i.e. search for the details of people who download and interact with the app. Conducting a thorough market research on the people using your mobile app tells a great deal about its performance. It helps you find your niche (target audience) and will help you at working better towards that particular niche. It will help you market your products better and will constantly keep you updated about changing dynamics.
5. The average revenue per user: Well, it’s great news if people are downloading and engaging with your app services. It definitely sounds better when your app attracts revenue. Even then, an increasing revenue level doesn’t compensate the need for increased user growth and engagement increase. it‘s important for both these factors to move together which otherwise indicates something amiss in the modeling strategy.
You created a vision with regard to online market place platform solution for your business, developed an incredible app worth downloading and it did make its way to many mobile screens. Now the activities from here on decides the level of success the mobile app garners. Many times, mobile apps have been birthed to great ideas but haven’t really made it through the competitive times. Let’s face, your mobile app strategy may have to be revised and bettered depending upon the findings of factors that help evaluate its performance. Make sure that you conduct a detailed analysis time to time to remain abreast with the latest improvements and other changes in the tech and market space.
Have something to share further on the indicators that help evaluate mobile app performance? Or do you have any plans to modify your business app game plane? Write to us at email@example.com. Our team of experts here, at ValueAppz, are as always open to discussions and greater insights. Let’s create a better version of your app story with expertise that redefines excellence!