In 2024, tracking key metrics for your mobile app is crucial for its success. Here's a quick guide to the essential stats you should monitor:

These metrics offer a comprehensive view of your app's performance, user preferences, and areas for improvement. Keeping an eye on these will help you make informed decisions, enhance user experience, and drive growth.

1. Daily Active Users (DAU) and Monthly Active Users (MAU)

Keeping track of how many people use your app every day and every month is really important. It tells you if people like your app enough to keep coming back.

Daily Active Users (DAU) is about counting the number of different people who use your app in one day. This number helps you understand if your app is the kind that people want to use every day. If more and more people use your app each day, it means you're doing something right.

Things to keep an eye on with DAU:

Monthly Active Users (MAU) counts how many different people open your app over a month. Watching MAU lets you see how big your user base is and predict future trends.

What to watch with MAU:

Looking at DAU and MAU together gives you a full picture of how your app is doing. A growing number of users who come back often is a good sign. By digging into these numbers, you can figure out what makes users come back or leave. This helps you make your app and your marketing better.

2. Retention Rate

The retention rate is about figuring out what chunk of users come back to your app after their first visit. It's super important because if folks keep coming back, it means they really like your app.

You figure this out by checking how many people who used your app at one point are still using it later on. For example, you might look at how many people who used the app this month were also around last month.

Here's how to keep an eye on your retention rate:

If your retention rate is dropping, it means your app might not be keeping folks interested. But if it stays high, it's a good sign that your app has what it takes to grow and make more money. Happy users are likely to spend more and tell their friends about your app, too.

3. Churn Rate

Churn rate is how many people stop using your app over a certain time. It's super important because if lots of people are leaving, it means you're losing users faster than you're getting new ones.

To figure out your churn rate, start with your retention rate. If you keep 50% of your users from one month to the next, it means your churn rate is 50%. That's because the other half stopped using your app.

Here’s how you can try to keep your churn rate low:

Keeping your churn rate low is key because it means more people keep using your app. Plus, it’s cheaper to keep an existing user than to find a new one.

Try to keep your churn rate below 5% each month. If you can do that, you’ll have a bunch of loyal users who stick around for a long time.

4. Conversion Rate

The conversion rate is all about how many people do something important in your app, like sign up, buy something, or share it with friends. It's a big deal because it tells you if your app is good at getting people to do what you want them to do.

Here's how to make your conversion rate better:

Working on your conversion rate can help you get more users to stick around and spend money. Even small changes can make a big difference in how much money your app makes and how fast it grows.

5. Average Revenue Per User (ARPU)

ARPU

ARPU is short for Average Revenue Per User. It tells you how much money, on average, each person using your app brings in.

To figure out ARPU, just divide your app's total money made by the number of users.

Total Money Made ÷ Number of Users = ARPU

For instance, if your app earned $100,000 last year and you have 20,000 users, then your ARPU is $5 ($100,000 / 20,000 = $5). This means, on average, each user spends about $5 on your app.

Why ARPU Is Important

Keeping an eye on ARPU helps you see:

For example, if your ARPU is lower than other apps like yours, maybe you can add more things for users to buy or offer subscription options.

A higher ARPU means people really like your app and are happy to spend money on it.

How to Make ARPU Better

Here are some simple ways to help increase your ARPU:

Keeping track of and working on improving ARPU is key to making sure your app keeps making money. Knowing what makes users spend more lets you focus on the right things to boost your app's earnings.

6. Customer Lifetime Value (CLTV)

Customer Lifetime Value (CLTV) is all about figuring out how much money a user will bring in while they're using your app. It's super important for knowing how valuable your users are in the long run and helps you make smart choices for your business.

Here's a simple way to see what your app's CLTV is:

CLTV = Average Money Each User Brings In x How Long They Stick Around

For instance:

This means, on average, each user brings in $10 to your business over their time with your app.

Why CLTV Is Important

Keeping an eye on CLTV helps you:

You can make CLTV better by:

A high CLTV means you're likely to keep making money in the long run. It's good to compare CLTV with how much it costs to get new users (CAC) to see if you're on the right track. If CLTV is a lot higher than CAC, it means your user base is strong and growing.

Key Points

Keeping an eye on CLTV in 2024 is key as more apps come into the market. Focus on making users happy and use what you learn from the numbers to stand out.

7. Session Length

Session length tells you how long people use your app each time they open it. It's important because if people spend a lot of time on your app, it usually means they like it.

Here's what you should look at with session length:

Aiming for longer session times is key. If you notice the numbers dropping, it's a sign to check what's wrong. Using this info can help you fix issues before they push people away from your app.

8. Load Time

Load time is about how quickly your app starts up and shows stuff when someone opens it. It's really important because if your app takes too long to start, people might get annoyed and stop using it.

Here's what you should look at with load time:

If your app takes too long to load, people might not want to use it. Keeping an eye on how fast your app starts and fixing any delays quickly can help keep your users happy. Making sure your app works smoothly is key to standing out in a busy app world in 2024.

9. Cost Per Install (CPI) and Customer Acquisition Cost (CAC)

Cost Per Install (CPI) and Customer Acquisition Cost (CAC) are about figuring out how much money you spend to get new people to use your app. Keeping an eye on these numbers helps you spend your marketing money wisely and make sure you're making more money than you're spending.

Cost Per Install (CPI) tells you how much you're paying each time someone downloads your app because of your ads. Here's how you work it out:

CPI = Total Ad Spend / Number of Installs from Ads

So, if you spent $1,000 on ads and got 2,000 people to download your app, your CPI is $0.50 ($1,000 / 2,000 installs).

Customer Acquisition Cost (CAC) is about the total cost to get a new paying customer. This includes your ad costs and any other money you spend on sales and marketing. The calculation goes like this:

CAC = Total Acquisition Costs / Number of New Customers

For example, if you spent $5,000 on marketing and got 500 new customers, your CAC is $10 ($5,000 / 500).

Why Track CPI and CAC

You want your CPI and CAC to be lower than what you earn from each user. This means you're making money off each new download or customer. Keeping an eye on these numbers in 2024 will help you grow your user base without losing money.

10. App Store Ratings and Reviews

App store ratings and reviews are super important because they tell you exactly what people think about your app. Keeping an eye on these in 2024 is a must because they can help you make your app better.

Why App Ratings and Reviews Matter

Tips for Keeping Up with Ratings and Reviews

Paying attention to app store ratings and reviews gives you a direct line to what users think. By regularly checking and learning from this feedback, you can keep improving your app for everyone in 2024.

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Conclusion

It's really important for anyone making or promoting an app to keep an eye on certain numbers. These numbers help you understand how well your app is doing and what you can do to make it better. We talked about 10 key numbers to watch in 2024:

By looking at these numbers, you can figure out what's working and what's not. For example, if people are spending less time on your app, you might want to find out why and fix it. Or if it's getting more expensive to get new users, you might want to try different ways to get people interested.

The main thing is to keep checking these numbers to see how they change when you make updates to your app. This way, you can do more of what makes people happy and less of what doesn't.

By paying attention to how your app is doing, you can make it better for your users. This means they'll enjoy using it more, keep coming back, and maybe even spend more money. Keeping an eye on these 10 key numbers will help you make your app the best it can be in 2024 and beyond.


       

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