5 Must-Know Custom Application KPIs for Business

Mobile apps are now part and parcel of most business strategies. Building a custom business application offers a single channel communication to engage customers efficiently and cost-effectively. However, most businesses do not have an in-house IT team build and manage their custom applications. In most cases, companies hire custom application development services for the purpose.

Here are 5 key custom application KPI metrics that businesses must use to measure their app performance for business growth and productivity:

1. Retention Rates:

As the name suggests retention rate gives businesses a fair amount of idea about the number of visitors who are returning to the app following first-visit. Knowing retention rates equips businesses to create focused and targeted marketing campaigns for new as well as existing app users.

2. App’s Load Time:

In business, nothing matters more than speed and this is true for the business apps too. Mobile phones are limited by memory space and as such users do not want apps that are slow to load and take up memory. Delayed response is one of the primary reasons why most apps get uninstalled.

3. User Session:

How much time do users spend on the app and how frequently does he use the app? These are very relevant questions for business app success. Keeping track of session length and app usage frequency helps identify and meet user expectations effectively.

4. Customer Lifetime Value (LTV):

cLTV is another KPI metrics that help businesses better understand the apps monetization, retention, and social media visibility. Businesses must use cLTV for a better understanding of average user spending, retention rate, etc.

5. User Drop Off-Points:

User drop-off points is an important metrics to re-engage with users who uninstalled the app within just a short period. It also gives a good insight into the features and functionalities that users find annoying and interrupting.

The enterprise application domain is getting increasingly competitive with time. However, businesses must realize that creating an app experience that promises business value is a continuous process. The best mobile development companies suggest that businesses must take an analytical approach for ensuring an app-user relationship which is mutually beneficial. In simple terms, businesses must use KPI metrics to offer user’s value that overtime transforms into business growth and revenue.