by Steve Wilber, Product Manager
In the mobile industry, the adage “if you’re not growing, you’re shrinking” is as true as ever. Today, there are more than 2 million apps available in the app stores, meaning that competition is fierce and growth isn’t easy. In fact, 13 of the top apps in the U.S. saw their growth rate decline by ~20% this year. Mobile teams know that they cannot simply build an app and expect users to flock to it - they need to actively monitor and grow their users.
To help mobile teams understand their user growth, we’re announcing a new growth analytics dashboard. With this new dashboard, you can answer important questions like: “How many new users did my app gain this week vs. the last? Are they completing key actions inside my app? Are they sharing my app with their friends?”
Understand your user growth in real-time
It’s important for product managers and app marketers to stay on top of their new users count everyday and measure their progress each week. That’s why the new growth dashboard features three key data points at the very top:
- cumulative number of new users today
- new users count at this same time last week
- percentage change based on today’s count versus last week’s
By combining this data, your dashboard gives you an instant snapshot of how your app has been growing today and how well you’re performing comparing to the same point last week. It also helps you understand your growth trend for the week and whether you’re improving overall on a weekly basis!
Know the quality of your new users
The key to sustainable growth is not just getting new users, but ensuring they are taking meaningful actions in your app. With the new growth dashboard, you can now see the percentage of new users who performed a key performance indicator (KPI) each day. This helps you measure how engaged your new users are and see if your daily marketing efforts are attracting one-time users or highly engaged users.
Highly engaged users will come back to your app more often, so another way to gauge user quality is to look at your new user retention. The new growth dashboard helps you keep tabs on the percentage of new users that came back to your app after a day, a week and 30 days of installing your app. If the retention rate on a given day is higher or lower than expected vs. the week before, we’ll call this to your attention. This way you can address any issues quickly if there are any!
From our friends at Ticketmaster:
Measure and optimize your organic viral growth
For many mobile-driven businesses, in-app referrals can be one of the most effective channels for user growth. Studies have shown that up to 50% of all buying decisions are a result of word-of-mouth referrals. To help you measure your app’s virality, the new growth dashboard shows you how many users are sharing your app’s content or inviting their friends to download your app. One big question remains though: Are their friends actually installing your app from those invites?
The new growth dashboard gives you the answer via its viral installs graph. Powered by Branch (a multi-channel, deep linking and attribution tool), the viral installs chart shows you how many installs came from the invites sent or content shared by your users with their friends. It also gives you the power to drill into which channel is more successful so you can double down on the one that gives you the highest return.
Your command center for growth in 2017
We’ve built this new dashboard to help you understand your user growth and know where to invest your marketing efforts. With 2017 on the horizon, we hope this dashboard will empower you and your team to march into the new year stronger than ever. Here’s to next year!