How To Efficiently Measure Your Mobile App Marketing Strategy
There are almost 3.6 million apps in the Google Play Store and around 2.2 million iOS apps in the Apple App Store. This makes the competition in the mobile app industry more dangerous than ever, and if you make a single mistake, the users have lots of other options. To make your app stand out from the crowd, you need an effective mobile app marketing strategies. The problem with the marketing strategy is that most of the marketers depend on the number of downloads and investment cost. But, depending upon only these two factors won’t help you in measuring the success of your app marketing plan.
As an app owner, you should know that the number of downloads alone won’t make your app successful. So, depending upon only these number will never get you to the top, you need to understand the whole dynamics of the app marketing. There is a number of other factors and parameters that define the performance of your app, and you can measure your app marketing strategies using them.
Talking about the performance, there is a term goes by KPI’s or Key Performance Indicators that includes the factors representing the app’s performance. These indicators reflect how good your app is doing against the competition in the market. Here are some of the KPI factors you should know about.
1. Retention Rate
App retention rate is the parameters that tell how many users have returned to your app after using it for the first time in a limited period of time. This factor helps in building a long-term relationship with the users so you can have loyal customers. This how we can calculate the retention rate or RE.
RE= ((CE-CN)/CS)x 100
CN- number of new users during a certain period of time
CS- number of users that came during the initiation of the time period
CE- number of users stayed by the end of the time period
2. CPI and CPA
This is the most popular factors among the app marketers that technically gives you the amount your app making per installation. The CPI which is Cost Per Install will tell you the user acquisition cost of your app per installation. This lets you know that how much money your app is spending for each installation. On the other hand, the CPA or Cost Per Acquisition focuses on the other user questions like in-app purchases, buying the premium version or joining a subscription.
This KPI parameter is pretty exciting but, considered as the most underrated factor among the app marketers. The parameter tells you that how often people interact with your app which is quite crucial for an effective mobile app marketing. Here is how you can get it
DAU- Daily Active Users
MAU- Monthly Active Users
4. Session Interval and Session Depth
These parameters are essential for the app marketing, besides they are also little hard to understand. The Session intervals can be understood as the time that has been spent between every session of the users. The short intervals are better than the long intervals for the apps. .
5. Registrations and Subscriptions
Every app whether it is available for free or having a price tag offer some subscription. This is considered as the core revenue model for the app, where users have to pay for the services. Well, talking about the registration, almost every app has the registration step at the beginning that asks the users to provide information about them. This step helps the app to get the user’s email, phone number and other importation that could help in better app marketing. Besides, the subscription helps in acquiring money, along with this also acts as a KPI factor. With the subscription model, you can know that how much users are interested in purchasing the paid services of your app.