Using Analytics To Make More Money With Apps

Whenever I say the words “analytics” I usually see a lot of eyes glazing over.
Most people in the app business associate analytics with thousands of data points, the kind of information that only scientists can decipher.
What many people DON’T realize, however, is that analytics are much easier to implement and measure than they think. It’s all about breaking down your app into buckets that you then measure.
Once you do this, you can easily see reports that show you how strong your product is. You see exactly what people are doing and why they’re not purchasing the in-app purchases you’re promoting.
In this video I give you a visual whiteboard session that helps illustrate this powerful, million dollar concept.

Here are the steps to leveraging analytics:

  1. Install analytics into your app. If you’ve never done this, use a free service like Google Analytics
  2. Break down your app into 4-5 “buckets” such as the onboard experience, the first time walkthrough, completing a level, sharing a photo, purchasing goods, etc. Identify the steps that you want someone to complete.
  3. Have your developer install an “event” that fires every time each bucket is complete. I.e. you would say “I want you to fire an event every time someone completes the onboarding experience” which means that in Google Analytics you would see a completed event every time someone goes through the onboarding.
  4. Measure your baseline numbers. Watch these for a week and identify what percentage of people complete each one.
  5. Update your app to optimize each bucket. Iterate and measure. Repeat.

Once you have this system working, you can begin to test traffic sources.
Things like Facebook Ads or Influencers can both be tracked and may offer very different data than organic traffic from the app store depending on your targeting.
Repeat this process over. Measure. Improve.
That’s it.
Analytics are not complicated once you break it down into measurable parts. The key is to go one step at a time and to be systematic about your progress.
This is how billion dollar products are built.
See ya!

One Response

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