Businesses can benefit from several opportunities provided in today’s mobile world. Marketing on the go has become easier with the availability of affordable smartphones and devices. However, it is a very competitive space, and you will face stiff competition from major businesses across the globe.
The mobile app market is crowded, and users have many options to choose from. Therefore, tracking what users are doing within your app and what features are being used often is important. Developing a robust mobile app analytics strategy is therefore critical for the success of your business.
Difference between a mobile app and web analytics
Web analytics use various tools to track visitors and their behaviors via tags that are placed across the sites. These tags record details, such as where the visitors clicked or scrolled, duration on each page, and the type of device used. Web analytics is beneficial but does not help in understanding the behaviors of mobile app users.
Mobile app analytics include qualitative and quantitative data. The former includes details like user interactions with operating systems and devices, which can affect the success of the app. The latter includes measurable details, such as active users, conversion rates for certain features, and page views per visit.
Understanding these analytics can help you decide when a new version is needed to overcome any issues users may be facing. You can also adopt split testing, which measures if the changes have enhanced user engagement or not.
Benefits of developing a mobile app analytics strategy
After collecting the mobile app analytics data, understanding the information to gain insights into user behavior and make accurate decisions is important. This requires developing a strategy to determine the performance of your app. Here are five benefits of a mobile app analytics strategy:
- Drive ROI over each aspect of performance
A large number of apps are contesting for customer attention and visibility, and you cannot afford to have an acquisition strategy that lacks monetary goals. Marketing requires money, and you must measure different channels used for customer acquisition to determine which strategies deliver the highest ROI. This ensures you don’t waste your limited resources on channels that aren’t successful. An effective strategy should include observing the channels that deliver the highest customer lifetime value and focusing on in-app messaging.
- Gather data for enhanced customer servicing
An efficient mobile app analytics strategy allows you to understand behavior and data to improve customer servicing. While user acquisition is important, in the long-term retaining users is equally crucial. Constantly upgrading the app for an enhanced user experience will ensure customer retention. Your strategy must include receiving customer feedback and addressing any issues they may be facing for increased engagement and retention rate.
- Drive personalized customer-focused marketing
App analytics allows you to create customized experiences for targeted customers. Customer-targeted messages can improve the open rate of your app within a short period and can also increase the conversion rate compared to general messages. App analytics offer deeper insights to new customers while allowing you to figure out strategies for those customers who don’t return after one use.
- Track individual and group achievements
Companies can gather information from individuals and groups and complete directed and specific tasks within the app. Today businesses need to move away from the preferred acquisition channels. An app analytics strategy is beneficial in identifying whether you are incurring costs in the accurate channels, which can be customized to the individual user level. As the analytics collects more performance-based data, you can focus on channels that deliver the best results.
- Gain insights into churn and retention rates
Customer engagement is important, but strong app engagement requires loyal customers who use your app regularly. Apps with higher retention rates have better engagement, which in turn helps your app to grow and acquire more customers. Successful apps focus on reducing or eliminating the gap between churn and retention. App analytics can help in predicting the possible churn rate based on actual user information. Being aware of when, why, and where users discontinue using the app will allow you to find new ways to face this issue and regain lost customers.
Creating an app analytics strategy may not seem worthwhile as most people want to install it quickly. However, knowing your target customer base and their behavior within the app plays an important role in developing a successful product. It allows you to make informed decisions on which features should be included and also enhance customer satisfaction by providing customized experiences.