As an entrepreneur, it falls upon your shoulder to monitor the performance of your mobile application after it has been launched in the market. Failing to monitor your app results in:
- Poor app performance
- Low functionality
- Fewer loyal customers
- Lesser revenue generation
- Stagnant growth of your business
What are KPIs?
Key performance indicators (KPIs) indicate the following:
- How is my mobile software performing?
- Is it performing the way it was expected to?
- Is the standard of the program the same, or has it deteriorated?
- Am I generating the most out of my program?
- What are the areas that need improvement?
- How can I improve my application?
KPIs for Monitoring App Performance
To monitor the performance of your mobile application, you may use the following KPIs:
The number of downloads indicates how many new users installed the software with the intention of engaging with it. The better your app is; the more people will install it.
This KPI also indicates the performance of your marketing strategy; if you have marketed your application properly, your app will get a higher number of downloads.
Users tend to uninstall apps they find useless and disappointing. Basically, users uninstall applications that do not perform that well. In a lot of cases, users tend to uninstall the app when it crashes.
In such cases, there is an issue from your end, and you need to resolve the issue along with your app developers in New York.
This KPI will help you determine the number of users that continued to use your app after using it for the first time.
The higher the retention rate, the better it is for your business because it means that you have a greater number of loyal customers on board.
Even if users do not uninstall the software, they can stop using it. The abandonment rate or churn rate enables you to see the number of users that stop using your application after a certain period of time.
If your churn rate is higher than it should be, you need to investigate the reason; is it because the service quality has dropped, is it because a competitor is attracting your audience, or is it because your application is just not as functional?
There can be numerous reasons for the churn rate to rise; you need to investigate the primary reason and act accordingly.
There are three kinds of active users:
- Daily active users
- Weekly active users
- Monthly active users
Active users are people that engage with your application on a regular basis, indicating that they are satisfied with the performance of the application.
The amount of time your users spend on the application or session length indicates how much people enjoy using your application. A seamlessly performing app has higher session lengths.
The speed of your application or the loading time is a prominent KPI of performance Slow apps tend to frustrate users, making them abandon the application or uninstall it. Consequently, you may lose numerous prospective customers.
The software may crash due to bugs and compatibility issues, leading to the loss of customers. Best software development services make it a practice to closely monitor events of app crashes. This enables them to fix issues asap, reducing the instances of app crashes on the customer’s end.
A very prominent indicator is the number of in-app purchases. Higher in-app purchases indicate the trust of users, higher engagement, and the success of your application.
In-app purchases are often the method through which you make money out of your applications. So higher in-app purchases would also mean you are making the most out of your software.
App Store/ Play Store Ranking
The ranking on the store is extremely important. It not only tells you how your application is performing, it also acts as a promotional tool to attract more users.
Users should be encouraged and reminded to rate the app on the store. And you must immediately take action if a drop in ratings is observed.
Why are these KPIs Important?
Once you have developed an app, you cannot just turn blind toward it. No matter how amazing your application is, you have to maintain its standard to retain customers and generate profits.
You need to monitor these KPIs on a regular basis to ensure the business is performing well and your investment in the app is paying off. These KPIs help you identify issues that you may further probe into through reviews and feedback.
Monitoring KPIs becomes particularly important in the following cases:
- During the initial days of the app launch, because the traffic increasing on the application
- After launching a marketing strategy to see how people responded to that strategy
- After the operating system’s update
- You observe a drop in your profits
- Competitors stepped into the market
- You have scaled/launched a new feature in your application
After you have identified the issue, you can easily address and resolve the issue to improve your app’s performance and generate better outcomes from your application. For this reason, you need to keep your app developers in New York on board to maintain your software.
To ensure your app continues to perform well and stand out, you have to monitor its performance closely. There are various KPIs that can help you watch the progress of your application.
However, you are recommended to choose KPIs based on your business model – choose the ones that fit your app.
For example, the in-app purchases KPI would be useful for an application that does not use this monetization model.
Hire the best software development service to manage your application and update it whenever the users are facing an issue with the application.
If your performance is lacking due to the ineffectiveness of the marketing strategy, your development service will also offer high-end digital marketing services, improving the digital reach of your program.