Data is the new factor of production – which makes data the new gold. When this data is used wisely, it opens new doors to success and opportunities. So, what is Mobile App Analytics? By its very nature, Mobile App Analytics is the analysis of the app data. Understanding the user’s interaction with the app is the key. And when this data is converted into meaningful insights, things fall into perspective. In totality, it will give a chance for your app to grow by optimizing engagement and conversations and increasing the download rate.
Mobile App Analytics: Crucial than ever!
There are a whopping 3.2 billion smartphone users worldwide, which surely is a piece of great news for app developers. With this, there is a reason why mobile is more important than desktop. According to a study, a user spends 71 percent of screen time on their mobile and more than 90 percent of that mobile time is spent on using the apps. That is when Mobile App Analytics comes into the picture. Companies should use it to not only narrow the competitive gap but also to stand out from the crowd. Now, there are more than 7 million apps on the store making survival in this cut-throat competition is a mammoth task; giving you more than enough reasons to encash on Mobile App Analytics.
Technically, Mobile App Analytics gives companies an over-the-surface sneak-peak of the users’ life. Without which companies are left clueless. And not knowing what is working in the favour of the app or why the user is leaving is great pain.
Mobile App Analytics to the rescue
On average a smartphone user uses 10 apps per day and around 30 apps per month. These days, millennials are the driving force behind the success of any app. As per a study, 24% of millennials open an app 50+ time per day. With roughly over 7 percent increase from the years before, 2020 saw more than 200 billion apps being downloaded. All this is generating a tremendous amount of revenue and mobile apps are expected to generate over $935 billion in revenue by 2023. When so much is going on in this industry, let us understand how Mobile App Analytics will come to your rescue.
- The first and foremost things that it tracks is the user’s interaction with the app and user journey.
- Secondly, it provides a pattern with customizable analysis to understand the user.
- Further, it derives the churn rate by tracking the uninstalls. Moreover, it hands over some cost-effective campaigns to win the users back.
- Visualizes navigation path. This will give you an idea of which feature or product is doing well.
- It defines users’ characteristics – gender, demographics, app installs, taps, screens, user retention, app launches, funnel analysis and more.
- Narrows down reports beneficial for your business.
- Identifies common problem areas. giving you a chance to rectify and grow.
- It helps you understand the growth of KPIs.
- Defines retention rate and provides the number of active users.
Types of mobile analytics
Analyzing the data, is without a doubt, a must! All the data that is collected has a purpose and classifying it will make the work easy. To derive meaningful patterns and curb the haziness, understanding these types of mobile analytics will help you leverage the data.
Advertising or Marketing Analytics
Last year saw a 20 percent hike in the average daily time spent on a mobile, which reached four hours and ten minutes. In 2019, 4bn shopping apps were downloaded and in the second quarter of 2020, over 1bn mobile games were downloaded per week and 24bn downloads of the finance apps. The success of an app depends basically on marketing channels, how you attract the user, the number of installs, and how the engaged audience contributes to the financial component of the app.
For this, one can collaborate with different ad networks. Here marketing analytics will play a big role to understand channel was responsible for the spike in the app’s success. The data acquired, upon analysis, will exude which ad network or publisher are helping us get the right users. In a recent survey done by a leading company, 51 percent of users said they discovered a new company or product when searching on their smartphones. And in 2020, mobile ad placements grew by 95 percent in the United States. Encashing on this data, we find ways to attain the highest return on investment (ROI) and lifetime value (LTV) of acquired users. Quality data collected via marketing analytics are installs, purchases, opens, clicks, registrations, shares, invites, and others.
- In-App Analytics
A normal trail of a user while using an app essentially is – opening the app, scrolling through different products (pages),reading reviews, adding the product to the cart, contemplating buying it, and ,in the end, purchasing it. The purchase rate depending on various factors. Here ,what can be done is to understand their trial that leads to purchase, what they do in the app, and the way they interact with the app. By analyzing that, we get a chance to optimize the features and conversation funnels. In-app analytics provides data such types of devices, OS, location, language, gender, age, new or old user, screens viewed, ads clicked, purchased made, etc. Working on this data will surely enhance the user experience. For instance, if a majority of users are making a trailing and going to the third session (page) of the app, making it one of the most clicked or viewed pages. To make it easier for them, we can shift that session or product on the home page itself – it not will not only save their time but will also guarantee user satisfaction further leading to the rise of the purchase rate.
- Performance Analytics
We get it, it is seriously annoying when you are doing something important on the app and just when you are about to complete the task, the app crashes. At times, there is a point of no return, and crashing of the app can get 71 percent of users to uninstall the app. One of the things, that might help here is when the user reports the bug and the issue is solved instantly. It is said that 67 percent of bugs are reported on iOS devices. And if the user does not find the value in it, 29 percent will immediately abandon the app. According to a survey, a poor mobile experience negatively impacts the brand as per 65 percent of the users. Long story short, your app’s health is of utmost importance to give the user the best experience.
Performance analytics collects data such as crashes, errors, data transactions, API latency, carrier latency, and more. This data will help you prioritize the problem, optimizes your improvement time, further leading to the success of the app.
Here are some of the fundamental measures for mobile app analytics
- Define your purpose
Before getting into you anything else, the developer should focus on what the app is going to provide. Pen down the clear values and purpose that the app will provide the users. Laying down a foundation will provide a crystal picture. The best way is to get in the shoes of the customers and decode what they would want from your app.
- Don’t wait!
Waiting to implement mobile analytics means you are just wasting your time. Don’t wait to implement it in the later stages. For optimized results, executing it during the design stage will provide you with a better picture. You don’t want to find that there is something wrong with your app once it is launched. App health is critical and applying the analytics at an earlier stage will help you lay a great foundation. Be proactive in resolving issues.
- Everything is not gold
Prioritization is the key. Don’t get carried with the quantity of data that is at your disposal. Define what data matters and work on it. If you don’t focus on the key points, you will be left with little or less time to work on the crucial data. This step becomes a cakewalk once you have defined your purpose. Set your KPIs on the out track. Work on data that will give back actionable output.
- Breathe in, breathe out!
Data achieved overnight won’t change the fate of your app. Don’t run behind quantity, quality data will change your life. Mindful data is achieved over time. And analyzing that data will provide you with certain useful trends. Be patient with the data! Don’t forget patience always bears sweet fruits of success.
- Track user journey
A happy customer increases the life span of the app. And to make the customer happy, the app developer must understand the mindset of the user. Which feature makes them happy, what aspects get them frustrated and what makes them hit the purchase or the download button. Understanding and mapping user journey will optimize your funnel and bring in great returns. You might have built the app taking into consideration the user journey and the step they to conversion. But not always the user will follow the same trend. This is exactly why understanding user journey or footsteps is gold.
- Be flexible
These days trends, data, tools, and parameters change in a jiffy. That said and done, the business model does not change. Begin by designing the analytics but be flexible enough to alter it when the trends change. Suppose, for instance, you have designed an app using certain tools but at the last moment, the client asks you the chance the platform, so instead of changing the model all you have to do is change the tool.
- Twice as nice
When will you get effective results? So, basically when you offer two versions of the same app and get it tested before launching. As per an assured source, 49 percent of apps need more time for testing. A/B testing provides you with the best outcomes. Investigate the data see what will make for the best app.
- Set higher standards
They say comparison isn’t good. But in this case, it will work in your favour. There are a few benchmark standards set by the industry. If you evaluate that, you will get a clear idea of how to up your game. Check the industry benchmark sifted by vertical and demographic.
We are at your service
In essence, what makes an app eternal is – understanding user footsteps, measuring the insights, and changing as per trends for optimum results. Using specialized analytical apps can change your life. An ideal tool can cater to a mammoth of an audience.
As per a study, the year 2023, will see an astounding number of app downloads amounting to 300 billion. When the race gets so tough, we are there at your service to make things a tad be easy. Curious about how mobile app analytics function? Are you ready to give your audience the best user experience? Our smart and diligent team will do the rest for you!
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