8 minute read
Mobile apps are expected to generate over $935 billion in revenue by 2023, so of course, many people are interested in becoming a part of this lucrative industry. If you already have a great concept, great! Now you need to determine what you want to achieve with your app and develop a plan to get there.
Before you launch a new mobile application, you will need to create a detailed project strategy complete with realistic goals. The goals that you set will be your guiding light throughout the process of developing, launching, and sustaining your mobile app. However, your product strategy is about much more than the aesthetics or purpose of your app. Creating practical, motivating goals requires a deep understanding of how people will use your app.
Even if your app is entirely unique, there are specific strategies that you can employ to create realistic goals for your app launch. These begin with knowing your target audience, competitors, and desired outcome. Your team will also need the support of experienced mobile app developers and UX designers to put the finishing touches on your project and help keep your app design goal-oriented.
Ready to prepare for a successful mobile app launch? Here are professional tips to help you set attainable goals and expectations for your app release.
How to Predict the Success of Your App with Industry Insights
Before launching your mobile app, it helps to have a vision of your possible growth trajectory. Use data-driven insights to compare your app to competitors’ and put together a sustainable growth model for your project. You can also use these metrics to attract investors with a thorough and achievable picture of your mobile app's target KPIs.
When you are planning to launch your app, growth forecasts can help ensure that you are creating sustainable progress at a realistic pace — even before you have acquired live app data. Plus, industry insights can clue your team into best practices for apps in your industry. So once your app gets into the hands of users, you’re prepared to maximize your return on investment by increasing your conversion rate and circumventing costly errors.
Of course, there’s a lot of data to wade through out there. So when gathering and analyzing these insights, the first step is to identify which metrics will define success for your specific app and business model.
Determine Which Metrics Are the Most Important
To decide which metrics are most relevant to your success, consider the context in which your mobile app exists. In other words, how will you monetize your app? If your app is subscription-based, you should use metrics that forecast lifetime value. Mobile apps that focus on in-app purchases should pay close attention to the conversion rate. Social, community-based apps should focus on which characteristics align with a lifetime user, such as engagement and post sharing. Focusing on the most relevant metrics will let you know how to set your KPIs and determine your ability to meet the goals established in your growth forecast.
Use Industry Benchmarks to Establish Your Plan
Now that you've decided which metrics are most important, it's time to perform your research. Scour the internet for industry averages. For the most accurate, detailed data, ensure that this information is categorized based on your app's type and market. Then, you can use these benchmarks to set your goals for each metric and determine which user behaviors contribute to that success.
However, don’t forget to account for diversity within your app's sector. For instance, "Lifestyle" mobile app statistics could include data from dating apps to fitness apps. Make an effort to find the most specific information possible, and use this data to inform your goal setting.
Leverage Data for the Launch Itself
How you launch your app can significantly impact your project’s longevity and overall success. There are many different ways to launch a mobile app, and one technique is not necessarily better than the other. The most crucial factor is whether or not your launch strategy aligns with your target audience's needs and interests, as well as the resources available to your company.
For instance, dating apps typically launch by targeting one city because this strategy favors a concentrated population of users. On the downside, launching in one specific area decreases your total number of users.
Similar considerations can impact your launch approach. If you choose a launch style that targets multiple markets — whether that means different cities, countries, or user industries — it will increase the complexity of your strategy. While you may have more users, your team must manage the intricacies of each area separately.
Weigh the pros and cons of potential launch plans by examining the data you’ve gathered and identifying your most promising target audience. And no matter which launch strategy you choose, ensure that your plan aligns with your growth forecast.
Understanding Metrics After Launch
After launching your mobile app, it's time to measure your overall performance. The good news is that once your app is available for download, you will have much easier access to reliable, measurable data that will help you identify which areas need to be addressed. For example, if your launch was less successful than you anticipated, you can use your launch metrics to understand which pivots are necessary to reach your goals. Or, even if your launch surpasses your goals, it is vital that you continuously track and improve your user experience to develop an app with longevity and maximize your revenue.
While some metrics may be more or less relevant to your specific mobile app, the most critical metrics typically include the following:
- Mobile Downloads: Of course, the most apparent measure of success for a freshly launched mobile app is the number of downloads that your app has accrued within a given time period. It is the simplest way to measure the app's popularity.
- Daily Active Users: A key indicator of a mobile app's future is the number of daily active users (DAU). This metric will include anyone who logged in or created an account to interact with your app. As such, DAU is one of the best ways to measure continued engagement and growth.
- Load Time: Although it may seem insignificant at a glance, your mobile app's load time is essential in determining its overall success. Even if people download your app, they will promptly press "uninstall" if it isn't loading quickly and correctly. Work with experienced mobile app designers and developers to ensure that your app is as fast as possible.
- Demographics: You should have already established your target audience before launching your app. Now, it's time to see which demographics are actually downloading your app. Whether targeting a specific age group or gender, the download number should align with your target audience. If not, it may be time to pivot and try a new marketing strategy.
- Install Source: Knowing where users found your app — in other words, the “install source” — will enable you to create more focused marketing campaigns and accrue a higher number of users. Pay close attention to which sources performed most favorably and whether the sources are paid or organic, so you know which strategies are working for you.
While there are many different metrics that you should consider after launching your mobile app, these are some of the most relevant in the beginning stages. As your user base grows, you can gather more specific data that will allow you to drive revenue, improve the user experience, and adjust your goals as necessary.
Set Your Sights on Success
After developing and launching your app, you should have a fair amount of data that you can use to create a more effective marketing strategy. However, there is much more to developing creating a marketing campaign than understanding your target audience. A significant portion of a successful marketing strategy involves understanding your competitors. You can leverage this knowledge to discover which strategies will work best for your app and which marketing moves you should avoid. Studying your competitors will also allow you to gain insight into which channels and messaging will be most effective for your growth.
For your mobile app to become a lasting digital product, you should also collect post-launch customer feedback. This will help you improve the overall user experience and ensure that your app fulfills the needs of your target audience.
Reach Your Goals with CodigoDelSur
Every budding company has different goals, but the elements of an engaging mobile app experience remain the same. First and foremost, you'll need a team of experienced designers and developers who can create an experience that encourages your target audience to download, create, share, and engage as soon as the app is launched.
Our mobile app designers and developers at CodigoDelSur can bring your application to life, creating a stunning, functional mobile app that supports your goals and brand vision.
Since 2007, CodigoDelSur has helped nearly 200 US-based startups design and develop a wide range of mobile apps and websites. Our team of web developers leverages their technical expertise and knowledge of usability, engagement, and growth hacking to scale your business exponentially.
Through the consistent creation of stunning, user-friendly websites and mobile applications, CodigoDelSur is rising to the forefront of our industry. We're always ready to apply the latest developments in new, exciting technologies for your brand and create valuable user experiences that will keep your customers coming back for more.
Ready for a launch-ready mobile app that embodies all your goals? Contact our team today and find out how we can revolutionize your brand's digital experience!