With the IT industry, there are so many career paths to take. However, one field that has witnessed tremendous growth in popularity lately is mobile app development.
Mobile devices have become pervasive, and two-thirds of the population in the world is connected with a mobile device, which is over five billion unique subscribers.
This means that the use of mobile apps for almost everything, from getting a ride, shopping, design, playing games and many more are all on a mobile device.
The surge in demand resulted in the escalating need for mobile app developers and is likely to stay high for years to come.
Importance of Mobile Apps in Daily Life
In the daily lives and activities of people all over the world, the importance of mobile phones and apps is without doubt endless.
Today, mobile phones no longer are the ordinary device that they were before. It has evolved into a tremendous point of attention for people and businesses, credits to the different wonderful features as well as opportunities mobile devices offer.
The availability of mobile applications nowadays is on the rise, so much that it creates a noticeable change in how humans experience and feel computing.
A few years back, to access the internet and read emails, a computer is required. Today, computing is now carried everywhere in mobile devices, such as smartphones and tablets.
The mobile app’s presence, in general, could be compared to cake decors because they make devices more enjoyable and fund.
Mobile app use is limitless, cutting across people, and all walks of life. Mobile apps are practically everywhere.
In education, communication, social media, shopping, cooking, business, sports, banking, and almost all industries, mobile apps are present.
People seek updated app versions on a day-to-day basis. App developers nowadays, therefore, are working continuously to keep up with the evolving requirements and demands.
Because of this, the increasing demand for new apps is going nowhere but up.
Getting Involved in developing Mobile Apps?
- The opportunity to reinvent how mobile tech is used.
- The lure of designing something fresh and new.
- Application developers could work anywhere, anytime.
However, with the hundreds of thousands of mobile apps these days, ranging from Android app development and iOS app development, the competition is pretty tough. There are just so many apps that do not even make it to the app store.
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Important Mobile App Metrics to Success
Of course, you couldn’t improve on what you couldn’t measure. So, what are the metrics to achieve success in mobile application development? To determine the strengths and weaknesses of an application, there should be data that represents the mobile app performance in an accurate manner.
With the wrong data or wrong processing, it’s impossible to improve any app. So as not to ruin the app performance, here are five key mobile app metrics.
1. Average income and total profit from a user
The entire profit from one customer is one of the key indicators of the business model’s success.
When it comes to mobile development, it will determine the company’s financial value, showcasing the contribution that every user makes all throughout the whole app interaction. The formula however may not work because of the lack of sufficient data.
Thus, rather than using your own statistics, consider the statistics of your closest competitions to understand the indicator you should aim for.
The ARPU or the average revenue per unit is associated with the oddity of your audience’s purchasing behavior. It’s needed to analyze the revenue source, which includes changes from every new mobile app installation or a purchase made.
Investors could draw conclusions from this metric regarding the possible profitability that could be derived from the project, as well as developers about shortcomings. Improving both indicators, together with user base expansion in general is of your best interest.
There are over 6 million mobile apps on the App Store and Google Play. Users however spend nearly 85 percent of their time on smartphones for just 5 of them.
The chances that your app could be removed after 72 hours of usage and would not be installed again are 4 out of five.
Meaning that people are content with a small set of their favorite apps, thus retaining the audience becomes a serious issue, particularly for startups.
You could boost the app marketing strategy based on these data and create a promotion that’s more targeted and calculate the total profit with every client and the total income of the organization.
3. App installation cost and loyal user cost
Cost Per Install (CPI), Cost Per Loyal User (CPLU):
- The CPI, or the Cost Per Installation measures the customer costs of acquisition for those who installed your application in response to seeing an ad.
- The CPLU is the Cost Per Layout User metric that looks at the cost of an acquisition of an active user, someone who launches your application three times at least.
The average CPI for Android and iOS application worldwide in US dollars:
4. Engagement of the Audience
Involvement isn’t a factual indicator.
It could be estimated with tracking and gathering other data, like duration of a session, preferred app interaction methods, the number of app interactions via push notifications, and the total number of viewed screens in each session.
It speaks about mobile app quality and complements quantitative estimates, thus, involvement is critical.
Active users do not only raise the retention of the audience and the total profit but contribute to the viral app spread as well via social networks. Thus, the biggest mobile applications, like Facebook for instance have a very high rate of involvement.
5. CLI or the Consumer Loyalty Index
One of the most effective indicators of user satisfaction as well as the popularity of the mobile app. It could be measured by asking a question, such as for instance:
“On a 1 to 10 scale, what’s the likelihood of recommending the app to friends, family, and colleagues?”
The result, whatever it is would give you an idea of the impressions of the audience and could help you:
- Measure the value and viral app potential.
- Understand whether the product meets the market demand.
- Assess if users want to share the app with others, which makes them potential customers.
Multi-experience, the future in Mobile app development
It’s projected that mobile apps would have the most impact on businesses this year. As user application touchpoints grow more, modalities have altered, as well as the device type expansion, thus the future for mobile apps is multi-experience.
The development platform providers are stretching their value proposition beyond mobile applications to meet the changing demands of users and industries. That is when the existence of multi-experience development platforms came to be.
The platforms are used in the development of voice, artificial intelligence, chat, and wearable experiences.
If you are considering a career in mobile application development, then now is the right time to be in the field. There are so many opportunities for growth and profitability.