Today we wanted to tell you about the advantages of being data-driven, as at the conferences we hear the same question over and over again:
"- Yep, I know that big data is cool and so on, but so what? Why should I use these tools? How do they help me reaching my main goal – create a successful mobile product?"
Well, we will try to resolve your doubts in just a few statements. Here we are with the six convincing reasons for collecting and using your data:
1) Measure user acquisition costs and ad channels efficiency
Cheap traffic (even CPI) does not necessary mean low user acquisition costs. The best way to measure quality of traffic is to calculate how many loyal users did it bring and what was the end price per loyal user from each advertising channel.
Our acquisition analysis tool allows you to integrate your MAT or AppsFlyer account with devtodev platform and track further actions of acquired users for each channel.
2) Calculate LTV (lifetime value) of your users
LTV is one of the most meaningful metrics for any B2C product (not only mobile app), and that is why:
If you know how much money user spends in your product, how much his acquisition and supply costs for you, you will be able to calculate thr number of users you need to acquire, how much money you can spend per install, understand the length of the the payback period, etc.
Read more: Top 10 Youtube Channels for Data Analysts
4) Evaluate users engagement
Use behavior tracking to find out how much time your users spend within the app, what features they use the most and what features are worthless.
Behavior tracking can also helps to detect technical issues before users inform you via one-star ratings and negative reviews in app stores.
5) Handle retention rates
Send push-notifications to certain user groups based on their actions. This tool allows you to offer your audience exactly what they need and exactly when they need it.
You can set user groups based on users behavior data: frequency of usage, paying/non-paying, commonly bought items and more.
6) Improve conversion cycles
Use conversion funnels to track efficiency of your user behavior scripts. Find out where you loose users and fix it.