Mobile App Analytics: 7 Things You Need To Know

The advent of smartphones changed the way people communicate and do stuff around the web. Shopping has also become an easy task for smartphone owners because they do not need to log on to their PC to find the products they need. The ease of access that handsets offer makes it easy to tap and order whatever you want in seconds. Mobile payment platforms also facilitate an easy flow, giving mobile commerce a solid ground to thrive. With the current growth in mobile eCommerce, there is every reason for businesses to create mobile apps for their stores. And once you have your app in the market, it is essential to measure its performance to determine how you can scale the business and what sections need improvements. Metrics are essential in every business. If you have created your mobile app and are wondering how you can use it to grow your business, then you should familiarize yourself with these seven facts about analytics in mobile apps.

1. Analytics Helps You to Understand Your App Users

Every customer counts. Whether they have installed the app for the first time or they are returning customers making their purchases on your application, you need to know them. It is essential to understand your customers or app users for you to serve them with appropriate content and improve the mobile app experience. Some of the data you can collect about your customer is the operating system they are using, their location, and their demographics. You also get information about the number of active users who have your app on their devices and how they use it. Understanding app usage can help you to optimize the best performing areas for maximum conversions.

2. Learn About Funnels Performance

Navigation on your mobile app helps your customers to find the content that matters most to them. However, not all navigations require a menu like the case of a website. Funnels make navigation on mobile apps easier. Users receive content according to their preferences. This method helps to get rid of clutter and optimize apps for performance and responsiveness. When using mobile app analytics, you will see how your users engage with the app and the steps they follow from the first time they open the app until they convert. The flow helps you to determine if there are areas of your app that do not work perfectly or scare your users away. This is a mandatory step to optimize the app and deliver relevant information that helps your customers to stay on the loop.

3. Analytics Measures Conversions and Sales

To grow your business, you need to sell. Your customers can make purchases directly from within the app to get access to restricted content or pay for a product. The number of sales you close from within the app determines how your business is performing. Real-time measurement is necessary for you to conclude on the profitability of the venture. Using analytics tools for mobile apps, you can see when and in which step your customers opt to make a purchase or subscribe to a product. You will also get a report on how your income grows with the in-app purchases. That should give you an idea of whether you should push the business forward, create more offers, or devise a new marketing strategy.

4. Analytics Simplify Reporting

Every business needs facts about its performance and establishment to make informed decisions. The time of counting and writing figures down is long gone. Digital trends can help you to get your reports faster and analyze them according to your needs. Sharing reports with respective parties also requires simplified, readable, and detailed graphs, charts, or tables. All the data you need to share with the development, marketing, or QA department is easily retrievable from the dashboard. With structured data, you can tell which markets you are dominating, which areas need more attention, and what part of your app the users love. You can then compare the reports with your marketing reports to determine if you need to tweak anything to meet your customer expectations for better performance.

5. Measure User Acquisition and Retention

If there is anything important to marketers, it is to make new customers and be able to retain them in the business. Returning customers are essential in any business. You cannot succeed in any business if you do not know how many new customers you have acquired and how many are returning customers. Returning app users can be grouped according to the last time they opened our app. This can be by day, week, or month. Tracking also indicated the channels that acquired your users. Knowing how many users came from ad clicks, social media, or Google search will help you to prioritize the marketing channels that bring in relevant users with a high retention ratio.

6. Analytics Are Important for ROI Calculations

When paid advertising is involved in marketing your app, it is beneficial to define whether or not you are making gains. It is not enough to know how many new users you acquired in a week. You will want to know how much you spent to get someone to install your app. You can then use the metrics to determine the direction of your investment and the benefits of your marketing campaign. When calculating the cost per acquisition, you divide the total expenses over some time by the number of new users you got on your app. Various marketing channels have distinct results, and the values will differ greatly. You can then compute how much gain you are making or you can prospect in the process. ROI calculations are essential to avoid running into losses in the investments.

7. You Need to Define Your Goals

Ambitions without goals are invalid. Before you start anything, you need to understand what you intend to achieve. The goals you set can help you to measure your achievements and guide your business in both the short term and the long run. When creating analytics for your app, you want to measure the results of your efforts and compare them with the ambitions you had. Goals should have a timeline. Although your reports can show that you are making progress, if it does not meet your intended goals within the stipulated timeline, then your app is not growing appropriately. Whether you want to hit a targeted number of installs, conversions, or a specific amount of profit from the app, you should draw your goals and always check how far you are from realizing them. You can use the results to find out what the best options are to focus on short-term marketing while working on long-term goals.

To Sum It Up

In every endeavor, knowing what you want and where you are in the process will help you to move forward. Checking various metrics on the performance of your mobile app is essential, and you should be consistent in reading the data to understand your users and if your app is beneficial to them. You can as well check the user experience from the way your customers engage with your app. You can use all the information from the analytics dashboard to make the app better and grow your user base.