5 Key Performance Metrics to Track in 2023 for App Performance

May 1, 2023 No Comments

by Jessica

Mobile phone apps are now a crucial element of our daily lives. Statistics show that there are a combined 5.6 million applications on the Google Play Store and the Apple App Store. We’ll likely see more apps enter the market since there is a growing demand, which would mean growing competition.

So, if you want to create a successful and profitable app, then you must set the right performance metrics. These performance metrics will help you to gauge the app’s performance and tell you whether or not your strategies are effective. So, to help you out, we’ll discuss the top five mobile app development frameworks and metrics to track in 2023. 

1.     UX/UI Performance Metrics

UX/UI metrics are the most critical to help you gather data about your application’s technical performance. It gives you and your development team an idea about the technical areas that need improvement. Using these metrics, your development team can find potential problems such as slow loading, bugs, etc.

These types of problems in the application usually go undetected but you can catch them with the UX/UI performance. Also, your team should have the right tools and software to deal with any technical issues. There are toolsets available from providers like JFrog, SaltStack, etc., that you can choose from.

They have a set of online tools that assist you in developing, delivering, and managing software applications.

2.     Interface Metrics

When there are traffic spikes, the database queries and HTTP requests might take more time to execute. Consequently, the delay in execution can lead to a few problems like a slow checkout process. It would confuse online shoppers and would negatively impact their user experience.

They might not know how to deal with this problem, and would ultimately leave the app. Therefore, developers should constantly look for and resolve any issues with the user interface. Having an optimal UX/UI design will ensure users don’t experience any problems when using the app. If developers find any issues such as slow-loading pages or page crashes, they should work on resolving them as quickly as possible.

3.     Engagement Metrics

Engagement KPIs (Key performance indicators) and metrics tell you about customer engagement with your app. Analyzing the results from this metric will help you determine what things users like about your app. They are closely related to user retention metrics — the more optimal your metrics are, the less cost you’ll incur for user acquisition. 

Keep in mind that the engagement rates and metrics have a direct connection with your app’s revenue. Some of the most critical engagement metrics include app churn rate and app retention rate. You can calculate them to know about the number of users you’re losing for a specific time and how many you’re able to retain.

4.     Revenue Metrics

The primary objective of creating an app for most developers or business owners is to generate revenue through it. Higher revenue clearly means that your app is performing well. There are different ways you can generate revenue using different ways, such as in-app purchases, subscriptions, purchases made via the app, and much more.

Revenue metrics also allow you to calculate the user-acquisition cost. You can subtract the user acquisition cost from the sales to find the revenue per user. Some of the important revenue metrics include user lifetime value (CLV, or CLTV), conversion rate, cost per install, etc.

5.     Number of Downloads and Installs

Lastly, you should also keep an eye on the number of downloads and installs to assess your app’s performance. Knowing the number of people that are downloading your app is a vital performance metric.

You can calculate the overall number of installs for your application using Google Analytics for a specific time. This tool assists you in setting up a tracking code for your app installations.

Furthermore, developers should go through customer reviews to know the reasons customers are uninstalling the app. They should also respond to people with negative reviews so it shows that the development team is working on a solution.

App Performance Metrics: Final Thoughts

We hope you now have a better idea about the key performance metrics to assess how your app is performing. These metrics help you uncover the technical issues that impact the user experience. Furthermore, it will also ensure that you continue to hit your revenue and customer engagement targets. But that is only possible if you continue to improve your app.

Setting performance metrics will help you to find out issues from a technical standpoint and the customer’s point of view in parallel. You can resolve these issues to ensure you provide an optimal user experience to enjoy a higher retention rate and a lower acquisition cost.

About the Author

Let me introduce myself, the editor of Beauty Lies Truth. She loves traveling and visiting new places, and tends to bring comfort into the trip. She loves spicy food, anything with lemon, nature and doesn’t understand the point of taking a picture without one of us appearing in it.