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Mobile App Dashboard Purpose: Monitor user engagement and maximize revenue generation.
Who is a Mobile App Dashboard for? CEO or Founder of a Mobile App.
Why is a Mobile App Dashboard useful? Mobile apps are highly popular. With multiple categories of apps like games, collaboration apps, or messaging app, the monetization is not always straightforward. If, as a business, you make money by charging per download, your sales funnel is slightly simpler–you promote the app and users pay you for it. If, however, you don’t charge users upfront, you generate revenue from in-app content, paying for features, or advertising, the model becomes more complex.
For this dashboard, we’ve focused on a free Mobile App and highlighted key revenue and user engagement metrics to give you an overview of your mobile app performance.
What mobile app metrics does it contain? Let’s say you make money from in-app purchases and advertising. Your users would find the app in the app store, either by searching or browsing categories. They download it, launch it and start using it. Users can pay for premium features to achieve their goals quicker. As a founder, you need to balance building an enjoyable experience whilst enticing purchases. For example:
Action: Engagement is decreasing, which will negatively impact your revenue. Firstly, investigate the reasons for churn. You may find out that a recently released version of the app was particularly buggy or users were not that impressed with the new content spinoff. In this case, you should rethink your app design and features to please your loyal customers. Consider investigating the behaviour of those revenue generating users and adjust your strategy to respond to their needs.
Successful apps are brilliant at creating addictive products and convincing users to pay for additional features. What it often comes down to is designing valuable experience for both your paying and non-paying users. For example:
Scenario 2: Has volume of downloads and ARPU decreased?
Action 1: Have a look at your app store ranking, that is one of the main user acquisition channels. Being featured above the fold is known to impact download volume substantially. While the exact ranking algorithms have not been fully disclosed, there are several known factors that impact them. One of these factors is your app rating. Consider encouraging your active users to rate your app.
Action 2: If the LTV to CAC ratio is high, consider planning a user acquisition campaign. Before you move ahead, make sure you profile your current users, especially the paying ones, to attract a similar audience.
Action 3: Check the paying vs non-paying user ratio. Then, you’ll want to segment your paying and non-paying users and try to understand their behaviour, churn and revenue separately. You will get a true sense of where you should invest. Next, plan a marketing campaign to attract and convert more paying users.