In the fast-paced world of mobile app development company in Canada, keeping an eye on your app’s performance is critical for success. Key Performance Indicators (KPIs) act as a compass, leading developers, marketers, and business stakeholders toward informed decisions and optimisations. Furthermore, tracking the correct mobile app KPIs can reveal insights into user behavior, app health, and overall business success.
9 Best Mobile App KPIs to Monitor Performance
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General Mobile KPIs
Monthly Active Users (MAU)
Moreover, monthly active users (MAU) are a vital performance measure that represents the number of unique users who interact with your mobile app at least once in 30 days.
Learning more about the MAU measure, you will better understand your mobile application’s overall health. Monitoring your monthly active users allows you to understand your app’s popularity and reach, develop focused marketing tactics, and track user engagement and growth trends.
How do you calculate monthly active users?
To determine how many users use your app monthly, you need to utilise a mobile analytics platform like Google Analytics, Mixpanel, or Flurry. Check that this tool is properly configured in your app to capture the relevant data. Select 30 days to view the number of unique users for that month in your analytics tool. Compare this amount to previous months to see if your app is expanding.
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DAU (Daily Active Users)
The number of unique users who interact with your app in a single 24-hour period is measured by daily active users (DAU). Understanding your daily active user provides immediate information into the engagement and stickiness of your software. This also aids in identifying usage trends, such as weekend spikes, which is critical for short-term planning and advertising.
How to Estimate Daily Active Users
To track daily active users, incorporate tools like Firebase or Google Analytics into your app, analyse a day’s user data, look for trends over time, and segment users by age or geography.
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Rate of User Retention
The number of unique users who interact with your app in a single 24-hour period is measured by daily active users (DAU). Understanding your daily active user provides immediate information into the engagement and stickiness of your software. This also aids in identifying usage trends, such as weekend spikes, which is critical for short-term planning and advertising.
How to Estimate Daily Active Users
The user retention rate is a percentage that represents the amount of users who return to an app after their initial engagement during a given time period. Measuring the user retention rate might assist you in understanding these mobile app performance parameters.
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Churn rate
The churn rate is a vital performance indicator that reveals how many app users abandon your app within a given time span. The churn rate is a vital app health check, suggesting potential functionality or user experience issues. It emphasizes the necessity of proactive improvements and the need for improved user retention methods by directly influencing revenue and growth.
How to Calculate the Churn Rate of Mobile Apps:
Choose a time frame, collect user data, apply the algorithm, and compare outcomes to benchmarks to drive retention strategies.
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LTV (Lifetime Value) of a User
The entire money you may expect to generate from a user throughout their participation with your app is the user lifetime value (LTV). Understanding average customer lifetime value (LTV) allows you to budget for new user acquisition, plan your finances, improve the efficiency of your marketing operations, and efficiently target promotions to specific customer categories.
How to Calculate User Lifetime Value
To calculate user lifetime value (LTV), first determine the average income per user (AIPU) and the user’s expected lifespan. LTV is calculated by multiplying these two figures. To gain more information, you can segment LTV by user attributes such as age or geography.
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ARPU (Average Income Per User)
The average Income per user is an important indicator for estimating the profitability of your mobile app. You can measure the financial value of each active user by computing ARPU. ARPU is important because it demonstrates how profitable your app is per user, allows you to compare to competitors, and informs tactics for increasing user income through upselling and cross-selling.
How to Calculate the Average Income Per User:
Collect income data, count active users in the same period, apply the formula, and then compare the outcome to industry or rival benchmarks for performance evaluation.
- Session Duration
The average amount of time a user spends within your app during a single session is referred to as session length. The average session length is an important mobile app metric that can help you understand your app’s user engagement level.
To compute the average session duration, collect session duration data and average it by adding session durations and dividing by total sessions. In addition, for performance analysis, compare the data to industry or rival benchmarks.
- App Downloads
The app download count is the total number of times your software has been downloaded from the app store.
How to Calculate the App Download Count:
Discover the authenticated download counts of your mobile app using either app store analytics or your app analytics tool.
- User Event
Moreover, tracking refers to measuring user actions within your app, such as clicking buttons, completing tasks, or finishing game levels. This analytics system provides a thorough overview of user behaviour and preferences.
User event tracking contributes to the improvement of your app by revealing what users enjoy and dislike, discovering faults, guiding future upgrades, and enabling personalized marketing.
How to Measure Mobile App Event Tracking:
Use analytics tools to discover critical actions, set up tracking, collect data, analyse patterns, and improve the app to assess user behaviour.
Conclusion
You’ve learnt the key performance indicators (KPIs) that can help your app succeed in the market. Additionally, KPIs provide a comprehensive view of an app’s overall health, ranging from user engagement and retention to financial indicators such as average revenue per user (ARPU) and lifetime value (LTV). If you are, Consider making your mobile app. If so, an Android app development company can assist you.
