Developing a mobile application for your business is only the starting point that is filled with challenges which helps you to achieve success. Mobile application performance measurement can be carried out by tracking its key performance indicators (KPIs) and crucial metrics. The success of your business application mainly relies on diligently tracking of crucial information and by avoiding complexities for the same.
Smart technology and mobile application have undergone through the rapid evolution over the last few decades. Most of the business industries are stepping ahead for adopting the digital solution for their business to boost their business operations. They are ready to develop a mobile application for their business as they knew that it will enhance their business efficiency and increase the reach of their business by utilizing the same time cutting costs of operations.
Understand the Importance of Key Performance Indicators for Modern Application EcoSystem
Billions of applications are available at the app store which is obsolete and does not add any value to the businesses. Hence for ensuring that your business application does not follow under the same category, you need to develop an application in such a way which offers something valuable to your ideal customers.
One of the most common problems that most of the businesses make is that they mostly focus on launching the application on the app store. No doubt that it is also one of the important steps but remember that it will just mark the beginning of your journey for application success. Here is the point where key performance indicators come into the main role. Various metrics are available which help to measure and monitor the performance of your business application, they are as follows.
Usage of App
From the movement, the application is launched on the app store businesses must continuously measure the accessed times of their application. If the application is providing value to your users then the usage levels will start rising gradually. This metric can help you to develop an effective strategy for upgrading your application. One of the critical aspects of in-app usage is session time and screens/pages visited. If your application screens/pages visit is more it simply indicates that the user is captivated.
Active Users
A number of users will download your application from the app store but most of them do not use them for completing their daily chores. You need to develop an excellent application that compels numerous users to use it on the regular bases. Keep track of your daily active users (DAU) and monthly active users (MAU). Also, go through the matrics whether your potential users liked your app, whether they used it or even they rely on it to get their daily work done.
If you want to achieve massive success in your business then you need to know each and everything about your users and also must know how they are using your application so that you update your application and can make a more engaging application that helps you to convert a number of users into active users.
Lifetime Value
Lifetime value key performance indicator matters a lot for enhancing the performance of your business application. With the help of this KPI, you can easily compare the value of application user with the non-mobile user. This can help you to know your customers prefer which way to reach you most of the time. If they prefer to use your business application then that is best for your business as you can easily promote your brand online and can reach a number of users worldwide.
Retention Rate
Most of the application developers are also obsessed with only the application installation and launch. Millions of applications are installed by end number of users daily but most of them are never used due to their bad performance. Hence you must hire developers those mainly focus on how your users are engrossed with your business application. And develop an application that provides the best performance to them.
Load Time of App
Your application must take less time while loading on the user device, if it consumes a considerable amount of time then its sure that the user will shortly get frustrated by the application. This frustration can result in the uninstallation of the application, hence it's your responsibility to craft the application that offers efficient and frictionless loading experience to the users. Your ideal user must be able to load new pages easily and must also perform the purchasing task seamlessly without thinking.
Session Length
Millions of application are developed and launched on the app store daily and if you are thinking of developing the application for your business then develop the application according to the guidance of the app store so your application easily gets approval from the app store experts. Once the app store approves your application, you can measure the session length of your application. This can help you to know how deep is your user's relationship with your application.
User Acquisition
According to the experts, one of the best ways of acquiring new users for your application is by studying how the existing users found your business application. Whether they found your application through in-app referrals, organic search, word of mouth or by paid advertisements. Most of the users are drawn to various kinds of applications due to the different reasons and by knowing these reasons you can easily reach your target audience.
User Happiness
Most of the people spend more amount of their time browsing various applications and websites. If the users are using the application then it does not mean that they are happy with that application. Hence to find out whether the user is happy with your application performance or not scope out your application reviews and ratings that are been provided by your user on the app stores. You can also use various tools like in-app messaging, Helpshift, etc to get feedback about bugs, UI, crashes, etc. Take this feedback and reviews positively and update your application to enhance the user experience.
Last Words...
Before moving ahead to the analytics process for your business application make sure that you determine all the KPIs that are most important to enhance the performance of your business. Few of the Key Performance Indicators (KPIs) that help you to boost the performance of your application are average revenue per user, user acquisition and items placed in a shopping cart, in-app purchases, and social shares.
Source: https://hugecount.com/business/kpi-that-matter-for-enhancing-the-performance-of-your-business-application/
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