How Analytics can help You increase Customized Mobile Application Revenue
Google Analytics is indispensable for the success of any websites, and developers just can’t think of creating a website without considering it. But when it comes to mobile app development, you either not use it at all or restrict its use to finding the number of downloads. Often, lack of time and resources are cited as reasons for not including analytics while developing a customized mobile application.
In today’s competitive business scenario, analytics can play a vital role in app development. Here we focus on how it can help you increase revenue for a mobile app.
Analytics can make development down the line more efficient in two ways. On the one hand, you can find and solve the problems right away without asking for feedback to friends and relatives using analytics, and on the other hand, you can find the elements that drive usage of your app. You can improve those features in the later stage. In brief, you can take informed and timely decisions with the help of analytics, and boost your app’s revenue.
App developers mostly track the basic stats like the number of downloads and DAUs (Daily Active Users). However, these stats do not show the user’s behavior. For example, if you want to grow DAU, you need to track other metrics that can pinpoint the hurdles in the way of increasing the number of DAUs. A deep analysis can assist you in understanding the user’s behavior.
Here are the important statistics you can track:
Just not get distracted by the number of downloads because user retention is much more important than downloads. A low retention rate indicates that your spending on user acquisition is wasting. Apps, fall into the categories of gaming, media, social, lifestyle, and shopping, have the shortest lifespan and face the retention issue. Analytics can enable you to monitor user retention.
Retention is measured by looking at the number of days of user engagement and through examining in-app events. You can find out the points at which users are dropped and closing out. It is an indicator of a recurring bug or a roadblock that you can resolve afterward.
Paid user acquisition strategies can assist you getting users, but the real uphill battle is in keeping them active. Daily, weekly, and monthly active users along with lifetime activity (beyond 365 days) analysis are helpful in finding the user activity.
You can also analyze the average duration of session time, which is either long or short depending on the type of your application. For example, if your app is a utility app, you want short sessions while a shopping app has longer sessions with more browsing time. You can figure out the best possible ways for enhancing user experience through checking these parameters regularly.
You can make a fair amount of bucks through in-app purchases (IAPs), which can be in terms of goods, power-ups, or in-game currency. But, here you should track not only the number of IAPs and revenue amount per player but also the time when the first and subsequent purchases occurred.
You need to find whether or not the user keeps on purchasing. These figures are highly relevant to the revenue, and therefore, you need to watch them closely.
After nailing down the analytics, you can find out more ways to dig deep into your app’s analysis. You can readily integrate analytics into your development cycle. You can get a holistic idea about the user behavior along with finding a bug or issues with the help of analytics. A careful analysis can enable you to find hidden sources for boosting revenue in your app through improving the bottom line.
In brief, analytics is a must-have tool in your hand for increasing an app’s revenue. You can get valuable insights regarding your application without spending much of your working time through analytics.