On 8th June 2015, Apple announced that it had surpassed 100 billion downloads on the App store, which means that 850 apps are downloaded every second. Yet, Quettra found that the average mobile app loses 77% of its regular active users within the first three days of installation and then 90% of them after three months.
As new mobile developments in the apps industry emerge, more and more techies are scrambling to get a slice of the action. But despite the millions of apps on the app store, only several thousand will experience sustained growth and retention that’ll allow them to survive. And even from those, there are just a handful of them worth millions of dollars. In an industry that’s saturated with so many players in all sizes and shapes, what should apps do to grow and retain themselves instead of crumbling away under competition? Most companies tend to complicate their business model while forgetting the fundamentals. Here are 5 surprisingly simple secrets to the growth and retention of your mobile app:
Why was Uber such a blow to traditional taxi drivers? Because it provided value that dominant players were not able to through its transparency, pricing, and convenience. If you want your app to grow and retain itself, then you need to ask yourself what kind of value it provides- why would people want to use your app when there are thousands of other substitutes available? What makes it special? Instead of focusing on how to promote your app, steer your efforts to making it better. And by better, it’s not just about improving your app’s interface and software, but the ultimate user experience both within and outside the app. Uber hasn’t just made it easier and more affordable to book cabs, but it’s also transformed the rather rigid conditions under which taxi drivers use to operate. It’s possible to initiate thoughtful, deep conversations with Uber drivers because they are not bound by strict guidelines and etiquettes that are imposed by traditional systems.
Study Your Metrics
The data economy has unleashed value like never before by bridging all the gaps between consumers and producers. The challenge isn’t retrieving information anymore, but using it to make transformative user experiences. If you want to grow and retain your app, then don’t just skim over your monthly active users and retention rates and then leave them in that drawer you probably won’t open again. Study your metrics and ask yourself why your numbers are the way they are. Use sophisticated metrics apps to make sense of the nitty gritty details, and make smart changes that will want people to use your app more.
Know Your Audience
Many companies rush to launch their product or service without gathering enough data about it. To make your app successful, you need to know what people find important in their user experience. You could start by asking your own friends and family to try out your app and then suggest how it could be improved. Even the age-old Pareto Principle affirms that 20% of an event’s cause translates into 80% of the effects it has. So, the better you’re able to tailor your app to your target audience, the more likely it’s going to grow and retain itself.
Make Your App Integrative
Humans are wired to be social animals and part of that means sharing what we like with people we know. That means you should make your app as integrative as possible by adding as many social media sharing tabs as you can. After all, why miss out on hacks that can boost your rankings and popularity for free? Make sure you strategically place your sharing tabs where your app’s fans are most likely to look and be tempted to share your content.
Looking At The Parts Rather Than The Whole
The apps industry is a highly-integrated ecosystem connecting consumers, producers, and suppliers along a complex value supply-chain. Every decision you make is bound to affect at least one other parameter of your app’s journey. That’s where most companies make mistakes, separating different processes and treating them as stand-alone units. 44% of companies for example focus more on acquisition in comparison to 18% who place greater emphasis on retention while in reality, both acquisition and retention complete each other. To build an app that experiences upward growth and retention, take a holistic approach towards designing it and avoid differentiating the variables involved. Before making any decision, think two steps ahead by examining what implications it might have for the overall model of your app and its stakeholders.
Mobile development has never been this exciting before. New technologies like virtual reality and artificial intelligence are redefining the way people shape their experiences and interact with each other. If you want to take the next big lead in this exciting landscape, then use these five secrets to bolster the growth and retention of your app.
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