By: Anand Jain, Co-Founder, CleverTap
The mobile industry is growing exponentially. Take a look around your workplace, café shopping mall or even at any social event, you will spot most people engaged with their smart devices. The mobile app industry is steadily flourishing and evolving. Mobile is no longer just another channel, it has developed to become your entire customer experience. The app market has advanced from smartphones to tablets and now wearable smart devices. Businesses now need to focus on app analytics and mobile marketing to ensure growth at a consistent rate.
Mobile analytics software is the fundamental of the data science industry. Marketers and developers have a competitive advantage by the data driven information that can be accessed and evaluated across all smart devices.
The success of an app depends on a number of factors like downloads, visits, repeat visits, engagement, sales, daily and monthly active users and more. If an app is useful it will find a permanent space on the home screen of the device and gain frequent repeat visits. Customer engagement with the app is the most dependable yardstick to measure app success.
Result-oriented, targeted marketing can be possible with the help of data derived from analytical metrics. Data driven analysis will help focus marketing efforts where they are needed the most.
Cohorts are a powerful analytic tool that is often left unused due to its complex nature. Cohorts aid you to analyze actions or behavior of a group of people sharing a common characteristic within a given time span. When it comes to marketing, the term “cohort” refers to distinct experiences, events or other factors shared by a group of consumers.
Cohort analysis is assisting businesses target marketing efforts in a relevant manner for users as well as businesses. Cohort analysis is a subset of behavioral analytics that derives relevant data from a particular e-commerce platform, application or online game. It identifies users and divides them into related groups for analytical purposes.
Funnels are created with an end result set as goal and a string of actions steering to the conversion action within a given time period. A funnel can consist of a chain of actions a user performs before purchasing a product or service through an app. Funnels analyze trends with respect to the chronological order of actions performed by a user.
App analytics through cohorts, funnels and classic demographics can help you track the exact user pattern and behavior in real-time. Keep a keen eye for new users, their first purchase, repeat visits and uninstalls. Tracking user behavior through analytics can help you improve your app, drive more downloads and get better ROI.