Making use of key performance indicators is critical to know more about the effectiveness of marketing strategies applied in your app. That’s because among the information obtained from them are the number of new customers and the profits obtained from the mobile application.
What are the main types of KPIs?
There are several types of key indicators (also called KPI) and in this case the challenge is which one should be used at each stage of a paid campaign. Today, we will present which ones should be taken into consideration in the creation of strategies focused on mobile performance.
LTV
LTV (Lifetime Value) is one of the main performance indicators focused on the results of your business. That’s because it measures the app’s gross revenue by pointing out whether users are converting, making subscriptions, or any other type of within the app.
With it, you can analyse whether the marketing strategies applied so far are taking effect, and help define which type of campaign is best suited for your mobile application.
CAC
The CAC (Customer Acquisition Cost) is one of the key performance indicators that has a direct relationship with LTV, since it points out how much it costs to win each of the new customers. With this indicator, it is possible to calculate how much the company should invest to win new users.
Conversion rate
It’s very unlikely that everyone who installed your app will make it to the final funnel event. To know if attracted users are qualified, it is very important to know their average conversion rates between the app funnel steps.
With this, identifying the effectiveness and profitability of acquisition channels becomes much easier. In addition, by tracking these metrics, you can detect funnel-breaking barriers that pose problems with the app or user experience.
Retention rate
Among the key indicators that should be analysed in a mobile performance job is the retention rate. It points to user loyalty based on their behavior, and identifies qualified leads that were generated through paid campaigns.
Along with other KPIs, such as those mentioned above, the user retention rate measures the quality of the application and its services, in addition to the effectiveness of advertising campaigns carried out so far.
Uninstall
Calculating the uninstall rate is required to evaluate what can be modified in the app, what is not pleasing or what is missing in the mobile application and that causes users to become unsatisfied.
Despite being more focused on the results obtained in a paid campaign, this on of the key performance indicators that provides important information for insights into new app marketing strategies. With an effective mobile performance job, the generated leads become more qualified and thus the uninstall is reduced.
One of the ways to find out the main reasons for uninstalling an app is to keep track. For this, it is necessary to follow the pattern that may arise, as in the case of uninstall peaks. This survey can point to new information about your target audience and thus help improve future paid campaigns, as targeting will be better defined.
Downloads
Just as it is important to calculate the uninstall rate, it is essential to know the numbers regarding the downloads of your application. In addition to other metrics based on this information, it also helps to know the popularity of the app.
Despite being considered a vanity metric by some experts, the downloads point to the effectiveness of mobile performance campaigns created so far. In addition, they contribute to a better understanding of the marketing strategies that should be maintained and which should be adapted.
Number of users
The user growth rate points to how often new people start using the app within a given period: whether this increase is constant, fast, or slow. In the case of steady or slow growth, you can explore the main causes and thus create new marketing strategies or consider switching your app’s campaign type.
How to choose the best KPIs
To find out the best key performance indicators to work on in your app’s mobile performance you need to count on the help of a subject expert. Thus, there are even more chances to attract a qualified audience to your mobile app.
One example of a success case is Polishop, which ran paid campaigns with KPIs tailored to your need and won qualified leads, greatly increasing your conversion rates.
Count on the help of RankMyAPP
Knowing how to look at all these success metrics is something that requires a lot of mobile work experience. Consult one of RankMyAPP’s experts to have your app’s metrics accurately analysed. Enjoy and learn the best campaign formats for your app.
