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Mobile apps have become an integral part of our daily lives. It plays a crucial role in the enhancement of business. It is the tool that engages and evolves a vast number of customers to your business. Most of the companies believe, a mobile app helps them to get more traffic and also brand popularity or awareness among people. However, it is essential to identify which platform you create your business app on.
Here, are some of the most common KPIs that helps to observe the performance of mobile apps are as follows:
Average Order Value (AOV) - AOV is termed as the average of each dollar earned. Calculate the value of AOV by splitting total revenue by the total number of the order placed by the customers.
Customer Acquisition Cost (CAC) - The CAC is the cost that you spend on acquiring a new customer. You can determine this number by using the simple formulae: - Cost of Sales + Cost of Marketing dividing by New Customers Acquired.
Average Revenue Per User (ARPU) - ARPU is the measure that helps you to determine the average revenue generated per user or unit. The value of ARPU can be calculated by: Divide the total revenue by the number of users.
Lifetime Value (LTV) - LTV is the measure to calculate the average income generated by the customer. The LTV value can be calculated by dividing the average income of the month by the rate at which you lose customers.
As we all know, websites have been ruling all around the business for so long. But it's high time now that small and medium enterprises (SMEs), must understand the importance of a mobile app to stay relevant and survive the cut-throat competition of the market. To be at the top and improve the KPIs list that we mentioned above, you must focus on creating the app that offers the user the best experience in terms of every aspect of your app.
Well, native mobile apps are one of the top choices of most of the businesses. With native mobile app development, the app demonstrates an extremely high level of performance. Also, native apps are super-fast and efficient. As the native apps are not relying on cross-platform tools such as Cordova and Xamarin, so, there are so few chances of any bugs in your app.
If you want to create a successful native app, then it is compulsory to give a lot of attention before the app launch. So, here in this article, we will discuss some tips and tricks that you must follow before the launch of the native app that will help you along the way.
To get the creative idea for an app, you need to do an in-depth analysis of both the market and the competitor. And, most important before design and developing the custom mobile app, you must be able to answer the following question:
Scalability is the essential aspect that you must not ignore as you never know when the user base increases. According to the latest report by the Startup Genome, 74% of startups don't succeed due to premature scaling. If your app is scalable, then you can easily able to manage the rapid advancement with zero downtime and without forgoing user experience.
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