App creators have a number of metrics to follow which are especially important during the initial launch and marketing analysis phase.
Most new app creators work with a minimum viable product (MVP) to reduce costs of development and analyze marketing potential before building a full app.
During the MVP phase, you must evaluate several metrics to determine if the app is a success or a failure.
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1. Number of Logins Per Day
Most apps have a login process. This metric is a good way to identify how often customers use your product. If you get someone who logs in every day, you could potentially have a power user.
Power users are the most valuable for a new app owner. They use your product regularly, understand its main purpose, and integrate it into their daily lives.
They can give you feedback on the features that are missing and suggest improvements for current features.
If you require a user to log in, then you probably have their email address.
Email these users and ask them to rate your product and provide feedback.
They can greatly improve your app’s potential and bring in new customers through word-of-mouth.
2. Number of Downloads and Installs
Some app creators mistakenly consider downloads and installs the same. As a matter of fact, they are different metrics.
A user can download the application but never install it. If they download the app from Google Play or the Apple App Store, the app is automatically installed.
The user can never run the app, however, and sometimes they just delete it.
When this happens, it’s still considered a failed conversion.
Luckily, you don’t need third-party reports to track these metrics; the major app stores display them for you. They also track the number of users that uninstall your app.
When a user uninstalls your app, it’s considered a lost customer.
You can use this data to market to existing users to get them to come back to your app by reinstalling it. You should carefully monitor these metrics to identify the root cause.
Users can uninstall an app for numerous reasons, but you must be able to obtain feedback if it’s due to a bug or a problem with the app’s workflow.
3. Number of Subscriptions
Many apps require a subscription. This type of app usually has a user sign up and pay a monthly fee to use the ad-free version. Pandora is a good example of a successful subscription service.
Users pay a small fee every month to skip over ads after each song.
Subscriptions are a great way to gain revenue each month.
The number of subscriptions should be closely monitored, because it determines the success of your app. You could have tiered subscription services, so users pay a different price depending on their type of service.
By following subscriptions metrics, you can determine which tier is the best for revenue and focus your marketing efforts on this product.
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4. Number of In-App Purchases
Gaming developers often don’t charge a monthly fee, but instead make their revenue from in-app purchases. Clash of Clans is one such example.
The app has made billions since its launch selling gems to eager gamers.
Since in-app purchases are where you make your money, you want to watch several metrics.
The number of installations and downloads will affect the number of in-app purchases. You need several users to cover costs from these purchases.
Luckily, this revenue model is the most successful for app developers, so it’s a common way to build revenue.
What Can You Evaluate with These Numbers?
With an MVP, these numbers are critical to your success.
In some cases, the numbers might indicate that your MVP has no market value, in which case it’s time to remove it from the app store.
The MVP is meant to identify not only marketing opportunities, but a failed product as well.
This allows you to test the market and pull the product before heavily investing in a failed app.
These numbers will fluctuate each month, but if you reach your intended goals, you can safely continue with your app’s marketing efforts.
It can take up to a year for your app to develop a following, and for you to figure out if you have a market for your product.
By using an MVP and watching metrics closely, you can streamline your budget and build a revenue stream.
Using app templates is one of the easiest ways to minimize development time and get started with a MVP.
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