Once, you are done with app development and live in the marketplace then only knowing, how many people have downloaded your application is not the correct way of judging the success of a mobile application. So when we come to the concept of tracking of your mobile app, app analytics play a vital role.
With growing app users you just can’t survive in the market only by tracking the number of app downloads. You need to learn about how users interact with your app, what kind of audience are using your app, what are they looking for, which areas of your app are of no use etc.
To know about the benefits of App Analytics one should have a basic concept of app analytics. Here are some basic concepts of app analytics which majorly revolves around 5 Metrics:
Acquisition - Users arriving to sign up or App download for trial.
Activation - Refers to people who now use your app.
Retention - Users now come back several times to use your app.
Referral - Users love your product & refer it to their group & create word of mouth.
Revenue - Users purchase/subscribe to a monthly/yearly plan.
The 5 major benefits of app analytics one can gain from analytics integration in apps:
1) It helps to Drive ROI.
It helps you to monitor customer Lifetime Value by users generating high revenue from customers and high retention. It’s quite obvious to understand that without diving deep into the analytics one cannot understand the behaviour and need of the audience to enhance app experience.
2) It Helps to Gather Accurate Data to Better Serve your Customers.
App marketing strategies lay focus on delivering long-term results focused on acquiring as well as retention of users by constantly providing improved and enhanced user experience.
3) It Helps to Drive Customer-Focused Marketing.
A Specific set of customers can be individually targeted through push messages which can double the rate of app opening and can help to convert much better than generic push messages. The analytics helps in providing deep insights which help in engaging new customers who can be converted into higher stages of the lifecycle.
4) It Helps you Track Achievements of Marketing Goals from Campaigns.
In today’s era of rapidly growing apps, one needs to focus on acquisition channels on the basis of performance of the acquisition channels rather than preferred ones. Integration of app analytics would help you realize, whether or not you are spending your money and time on the right acquisition channels.
5) App Analytics Offers Data-Driven Insights into Issues & Results by Campaigns.
App engagement is the metrics which is driving market nowadays, it’s quite tough to achieve app engagement if you lack a strong group of loyal customers who regularly use your app.
The successful apps not only use app analytics to focus on high Life Time Value (LTV) Customers and acquisitions of new customers but also on removing the gap between churn and retention. App analytics provides real-time data to learn why, when and where your customers dump your app which helps marketers to meet the problem and provide new offers to win them back.
Integration of app analytics helps marketers to work on marketing strategies behind the app to enhance and optimize apps and marketing apps to achieve happy customers delivering good growth and higher ROI.