Tips on Finding the Right App Analytic Tools

The good news is that the number of people using apps on their mobile devices is on the rise, as is the amount of time they spend doing so every day. But marketers then face the challenge of getting people to notice their app in a crowded marketplace, install it and choose to engage with it over time. For instance, just 24 to 29 percent of iOS users used an app again within 24 hours of initially installing it, according to statistics cited by eMarketer. The statistic for Android users was only slightly better: between 27 and 40 percent of these mobile users engaged with an app within one day of installing it.

Boosting app engagement is make or break for monetization, and it really starts with your marketing strategy. It’s imperative to assess the quality of users your campaigns are acquiring; how much it costs to acquire users who engage in post-install events and your retention rate. For this, you’ll need insights only data analytics can provide.

Here are three tips on finding the right app analytic tools to truly optimize your app acquisition and retention efforts.

Drive Engagement Beyond Installs

Installs used to be all the rage in the app marketing world. But as the aforementioned statistics demonstrate, installations do not guarantee conversions—not even close. The focus now has shifted to meaningful engagement, whatever that means to your app. Dating apps want users to create profiles, send messages and subscribe for premium features. Ecommerce apps want customers to register, add items to their carts and complete transactions. Travel apps value actions like creating an account and booking reservations.

Having the right app analytic tools on your side will allow you to track important engagement metrics such as:

• Retention rate: Gauging retention at intervals like one, seven and 30 days will help you assess the quality of acquired users and your app’s long-term viability.

• User lifetime value: Lifetime value (LTV) takes into account significant post-install events within your app and their assigned values.

• Churn rate: The opposite of retention, the churn metric informs you how many people are failing to engage with your app after installing it.

• Install-to-action rate: This metric reveals how many users who install go on to complete a post-install event, which is an important step toward monetization.

App marketers need app analytics tools capable of measuring engagement metrics beyond installs so they can continually attract and retain truly quality users.

Save Time with Built-In A/B Testing

Smart app marketers have to deal with many moving parts. But working with certain app analytics companies alleviates the need for clunky A/B testing, which means one less thing on your to-do list before you can launch optimized ad campaigns.

In the past, ads required manual A/B testing and assembly. Now, machine-learning algorithms can assemble personalized ads based on user data programmatically in real time. This ensures users see messaging relatable to their demographics and mobile device. Furthermore, these ads are already optimized thanks to built-in A/B testing, reducing the turnaround between creation and display.

Side Note: Consider a Cost-Per-Action Pricing Model

Traditionally, mobile user acquisition campaigns ran on a cost-per-install (CPI) basis, meaning advertisers paid every time someone tapped their ad and subsequently installed the app in question. Increasingly, marketers are finding it’s advantageous to use app analytic tools that operate on a cost-per-action (CPA) basis. This means paying only for users who continue on to engage in meaningful post-install actions. As one Forbes contributor writes, one of the key advantages of CPA is that “Advertisers are finally able to pay for what matters- real active/paying users.”

The right app analytics tools help you track the right metrics and launch streamlined campaigns that maximize engagement.