How to write a business plan for my mobile apps - Learn Online
I: Introduction
1. The purpose of this article is to describe the process of developing a business plan marketing strategy for mobile apps.
A: How to Write a Business Plan Marketing Strategy for Mobile Apps
2. A successful mobile app business plan begins with a focused niche and a great idea.
3. Before you can write a business plan, you must first understand what needs to be written and how it should be organized.
4. A business plan marketing strategy explains how the business will generate revenue and why the revenue plan is viable.
5. The business plan marketing strategy should explain how the business will bring in customers and how those customers will become loyal users.
6. A good business plan marketing strategy focuses on customer lifetime value as opposed to short-term revenue figures.
7. Customer lifetime value is calculated by multiplying the average customer’s spending over time by their retention rate.
8. The retention rate is calculated by dividing the average monthly churn rate by the average customer’s tenure.
9. The average churn rate is calculated by dividing 1 month by the monthly customer acquisition rate.
10. The average tenure is calculated by dividing the average customer’s lifespan by their monthly churn rate.
11. To calculate the average customer lifespan, you must divide the total number of users who have used your app for more than x months or years by the total number of active users at that time.
12. To calculate the average customer acquisition rate, you must divide the total number of new accounts created last month by the total number of active users last month.
13. When calculating the average churn rate, you must be careful to consider that many customers will not use your app for an entire month before churning out.
14. The average monthly churn rate is therefore calculated by dividing the total number of monthly churners by the total number of active users last month.
15. If you are trying to calculate customer lifetime value for a new app, then you are most interested in your current customers because they are making up your current lifetime value.
16. If you are trying to calculate customer lifetime value for an existing app, then you are most interested in your past customers because they are making up your past lifetime value.
17. If you are trying to calculate customer lifetime value for a new app, then you will want to estimate your future lifetime value using some kind of predictive model based on your current churn rate and user base size (i.e., cohort analysis).
18. If you are trying to calculate customer lifetime value for an existing app, then you will want to estimate your past lifetime value using some kind of predictive model based on your historical user activity (i.e., regression analysis).
19. You can determine whether your business model has legs by calculating your CAC (customer acquisition cost) and LTV (lifetime value).
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