How to Successfully Grow Your App? – A Quick Guide
You have already spent months, maybe years developing your mobile app, then launching it, but you are far from done yet. If you are genuinely looking to meet any measure of success with your app in any way, it is important that you evolve continuously. This is only possible if you can accomplish an expanding active user base.
It might be tough figuring out when is the right time to scale your app up, and to help you understand that we have laid out five qualifying factors that the app must meet:
Have you been receiving a constant flow of new users and genuine online engagement?
Is your average daily revenue per user in line with the industry standards? Are there any indications of ability of the app to be monetized
Are you able to achieve a 30% one-day user retention rate?
Are your ad campaigns consistently accomplishing or exceeding the target benchmarks?
Ad Spend ROI
Is your average CPI – LTV equaling an acceptable profit/loss?
Following are the top 5 tips for formulating post launch strategies in order to ready the app for continuing your streak of success to the next level.
Formulate an Actionable Plan to Improve the KPIs
This might sound like a pretty mundane thing, but this in fact would form the foundation of your scaling efforts. It is of critical importance that you invest time and some thought into formulating this plan and make sure that it is modular. What we mean by modular here is that the plan should have the ability of being broken down into highly specific actions and achieve measurable goals.
At this point in time it is absolutely crucial that you track all the major app KPIs (if you are not doing it already) in order to consistently monitor and review data that can help you lead up to scaling and go on beyond it as well. You may consider the KPIs below to track and include in your plan.
This metric helps you measure how often people come back to your app after the first interaction, how often they stay in the app, and when do they pay for features.
User LTV (Life Time Value)
The LTV for your app is defined by the monetization, the virality, and the retention quality of the app. This is essentially the metric that will help you measure engagement between the times the user downloads the app and when they delete it or stop using it. It is one of the best indicators of the future rate of retention and the ROI from the app.
LTV Formula: (Avg Monthly Revenue per Customer x Gross Margin per Customer) ÷ Monthly Churn Rate
If you are an appreneur, you can benefit greatly by keeping a track of the drop-off points for the first-time users and then developing campaigns targeted to engage with them yet again. This can actually help you figure out strategies to tweak your app as you would know then, where and why exactly you are losing the customers.
When you know how long the user are spending on your app in each session, you have a clear understanding of the engagement level and areas that can be worked upon.
Ratings & Review Analytics
The ratings and reviews that you receive from your app users can be a treasure trove of valuable information for making just the right changes to improve your app. Also, the ratings and reviews that you receive from your users are extremely important when it comes to the future success of your app.
Enhance App User Experience
Today, the user experience of any app is one of the most important aspects for the customers who are going to use the app. If the users feel negatively about the experience they have with your app, they are going to delete it instantly. If the experience is average or let’s say nothing extraordinary, the app might survive for some time on their devices, but chances of them coming back to it are considerably lower. Some of the most popular and successful apps like Uber, Instagram, WhatsApp are at the top and they have one thing in common, a stunning User Experience. The thing is, if you offer an exemplary user experience, the customers are going to remember it and keep coming back to you for more!
Take a deep dive into the user experience you offer currently and find ways to optimize it. There is always a room for improvement, and it is important that you figure out what are these improvements that would excite your customers and keep coming back to you for. Remember that it is always cheaper to implement these changes before you go ahead and scale your mobile app.
Forge a Robust Support System
A strong team is instrumental to the success of any project, initiative, or endeavor. Hence, when you go about picking a team for yourself, do so wisely. The people you pick must be committed to long term goals and should align with the goals of your organization as far as possible. This team building, or structuring would depend heavily on a variety of factors like your budget restrictions, timeline, plans for future, and your experience in managing developers. It is wise to have a clear idea about how you would want to scale development as your user base increases. Would you outsource the whole operations, would you have an in-house team, or have a combination of the two? Not every model suits every business structure, hence, it is important that you conduct enough research before implementing any of them.
Increase Your User Acquisition Efforts
With the growth of your app, the efforts you put in for acquiring new users would have to grow proportionately. This means that you would have to work on a bigger scale if you want to leverage the initial buzz and scale growth. It is important that you identify an acquisition channel that is best suited for your app by acknowledging the defining features that set your app different from the others instead of going blindly for a one size fits all solution.
The efforts for marketing vary from business to business. Some of the most popular user acquisition strategies that seem to work for most people are utilizing word of mouth, social media, paid acquisition, and SEO.
Pay Due Attention to Retaining Existing User Base
While it is important that go about acquiring new customers, it is even more important that you pay attention to retaining your existing customers as well.
Did you know that it is 7 times more expensive to acquire new customers than retaining the existing ones?
If you want to maximize your ROI, it is absolutely essential to maintain a high retention rate. This in turn can be accomplished through the following two methods – onboarding and push notifications.
As a first step, you can educate the users through onboarding. The onboarding experience must be seamless, so that it doesn’t overwhelm the users with bombardment of content or in anyway force them to go through long winded tutorials of any sort. Make sure that you are using the onboarding experience by establishing an authentic and long-term connection between the user and the app.
Sending out well drafted Push Notifications is a great way to retain the users.
Did you know that the users who opt in for the push notifications are 25% more likely to continue using the app, as compared to those who don’t?
When you do it right, your push notifications can be a great way to reach the users without being too intrusive. Personalization is key to a successful push notifications campaign which will ensure that your users will actually want to get them and attach some value to it.