How do you know that you are focused on the right things at the right time?
I like to look at three key pillars of data to help drive certain areas of growth that can be both in the app and out of it, and once I understand these current metrics I look to get buy-in from all of the founders to make sure that we are optimizing what the company should be focusing on at that given time, taking into account what stage you are at.
I like to utilize three main pillars of measurement:
1. Monthly Active Users
In each main category listed above, I break down the necessary keys to help drive the necessary growth metric after setting up and understanding the initial and current metric, so, for example, Monthly Active Users>Free vs. Paid Users> Current # and then set up a goal to reach each month. Within each category, I like to set up a half a dozen more granular actions to track and benchmark each month. In order to increase MAU’s I like to use a number of channels, mainly focused on setting up some initial campaigns in Google Adwords and Apple Search Ads to understand which search terms people are using and their correlation to a conversion. After understanding what the users are searching for and making sure the user experience of the website or app store page is setup properly to capture and educate those users based on their queries, I then look to bid up the high performing keywords and bid down the low-performing keywords while constantly looking for new areas in which to find new users. I like to start with a 60/40 split of paid advertising and organic content while initially focusing on the use Google Adwords, Apple Search Ads, Facebook Ads and making sure that the organic marketing is backing up the paid marketing so that there is educational content in each niche. I typically use iTunes Connect, App Annie, AppFigures, Fabric, Google Analytics, SensorTower, and Mixpanel to analyze and optimize all of this data.
It creates a data-backed verification of where to increase those user numbers.
I have found that by using this method it allows for conversions to be increased within the existing buckets where users may already be finding the brand and it creates a data-backed verification of where to increase those user numbers that all links up to what is working well based on our Customer Lifetime Value all without spending unnecessary dollars on assumptions.
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