Once you’ve created an awesome app, it is normal to want to learn how to measure an app’s success methods. With all these apps on the market, the competition is very big. So, of course, you don’t want your app to fail. This is where KPIs come into play. KPIs can help you understand how well your app is performing and identify areas for improvement.
What are KPIs?
KPIs (Key Performance Indicators) are metrics used to measure the success of an app development project. These indicators are used to evaluate the effectiveness of an app’s features and functionality and measure user engagement and satisfaction. By tracking these metrics, you can identify areas of improvement and adjust your strategies accordingly to ensure the app meets user needs and drives business goals. KPIs are essential for app development as they provide valuable insights that can inform decision-making and drive overall success.
Here are 8 KPIs to measure your app’s success:
- Use the engagement rate
- Retention rate
- Customer lifetime value
- Keep on track with feedback and rates
One of the most obvious and simpler KPIs metrics is the number of app installations. It’s good to track how many people installed your app daily, weekly, or monthly. It’s easy to measure how many people intend to use your app; you can do it on a daily basis.
People can decide to uninstall your app after a while or even immediately after installation. To know if your app is good, keep track of uninstallations, especially after making changes or updates. This way, you can identify what and why something went wrong.
Subscriptions are also a great KPIs metric to measure an app’s success. If you offer your users a subscription or registration feature, you should keep tracking the number of subscriptions and sign-ups. You may consider paying attention to how long it takes the user to subscribe or sign up once the app is installed. It’s a way to know how users behave on your app.
4. Use the Engagement Rate
Engagement rates show how often users interact with your app. It’s a good method to measure an app’s success because the engagement in your app shows how interested the users are in your content. Engagements can measure the frequency of usage, duration, and openings. So, depending on your goal, these metrics will tell you if your app is good enough.
5. Retention Rate
Retention is one of the most important app metrics. It measures the number of users who return to the app after some time. Thus, if many users return to your app after a long time, it means they find more value in it. That is directly connected to app success.
If your app offers upgrades, you need to know how many upgrades are made and the time users need to upgrade on your app. So, in this case, you can see if the users prefer the upgraded version or the basic version of your app.
7. Customer Lifetime Value
The customer lifetime value calculates the average conversion value and user lifetime. In other words, it’s a method used to estimate the average customer value over the period they use the app.
8. Keep on Track with Feedback and Rates
Last but not least, useful methods to measure an app’s success are real user experience, feedback, and the way they rate your app. These metrics are easy to gather and show much about your app’s success. It can also help you make improvements based on the user’s feedback and reviews.
If you follow these methods carefully, you will have an answer if your app is doing good or if it is possible to fail. Understanding how many people have your app on their phones, how often they interact with your app, and their experiences with it can help you make improvements, not only to keep your current users but to gain new users too.