No matter what type of mobile app you build, you are in the same massively overcrowded boat as everyone else. You will want to know quickly if your app is creating the value you need from it in order for it to remain viable. Madison Moore shares five tips toward that end in an article for Software Development Times.
- Create a measurement plan.
- Calculate customer lifetime value (CLV).
- Know your cost.
- Understand not all users are the same.
- Make the metrics actionable.
Instead of leaving analytics insertion into the app for the end of development, design with analytics at the forefront from the beginning. This will force the team to think about the business goal of the app and which metrics will best showcase if that goal is met. But when the app is running and available, it is time to start crunching numbers. Calculate your CLV and extrapolate from there. Consider your myriad costs too, which include starting costs, maintenance costs, and marketing costs. About the marketing costs, Moore says this:
… [they] are needed for acquiring new app users, and this can vary depending on what marketing and advertising channel is used (like Facebook or banner advertisements). With all of the analytics solutions that can be applied to mobile applications, developers can use attribution tools to determine the source of where a user found a given app. Then developers and teams can figure out if they need to adjust advertisements in order to gather more app users…
The ultimate goal is to create high engagement with as many app users as possible, but some users are just not as committed as others. Do not waste too much energy chasing low-value customers. And Moore’s final tip is to make sure that the metrics created to measure app success are actually actionable. The metrics must be able to elicit more than a “woohoo” or a “this sucks” from the team observing them.
You can view the original article here: http://sdtimes.com/five-steps-developers-can-follow-measure-roi-mobile-apps/