There are more than 300+ app stores in the world today, and this number is increasing every day. However, only some of the app stores available in the market are good. You should, therefore, be careful when picking the alternative app store to list or advertise your app. Data and analytics are crucial for your app’s growth and success.
Without insights into your app’s performance and users’ interactions with it, app development teams could essentially be operating blindly. While Google Play and Apple App Store have traditionally garnered most of the spotlight when it comes to app distribution opportunities for developers, third-party stores represent a growing opportunity to reach new audiences.
To capitalize on this opportunity successfully, app developers need to comprehend and utilize third-party store analytics. Accurate data can help them better understand their audience, optimize app listings, and drive more sales.
In this article, we explore seven essential ways third-party store analytics can expand and grow your app—and increase revenues!
Understanding user behavior
One of the greatest assets provided by analytics from third-party stores is user behavior data. You can track how users engage with your app throughout its journey—from discovery to download, in-app usage, and beyond. The insights they provide will enable you to know what’s working well or not so that adjustments may be made to enhance user experience.
By monitoring user behavior, you can pinpoint exactly which features resonate with your audience and those that may cause frustration. 90% of users cease using an app due to its subpar performance, and 88% of users are likely to give up on an app that is plagued with glitches or technological errors.
For example, if you notice a significant number of users abandoning the app installations, it could indicate issues related to size or complexity during onboarding. Early identification and resolution will help increase app installations and boost user retention rates.
App Store Optimization (ASO) performance
App Store Optimization is central to app store success – whether on Google Play, an independent store like AppAdvice.me, or another. Using analytics data from third-party stores enables you to assess how effective your ASO efforts have been and evaluate how well your app ranks among searches.
Metrics such as keyword traffic, conversion rates, and search rankings provide insight into how well your app is doing within its respective category. By taking note of such information, you can refine keywords, alter descriptions, or experiment with visual elements like app icons or screenshots that could attract more customers.
A/B testing can be an invaluable asset here. It enables you to test multiple variations of your app listing to identify which performs better over time and can lead to substantial increases in visibility and downloads.
Sales and revenue tracking
One critical advantage of third-party store analytics is the ability to monitor your app’s revenue streams accurately. Understanding where sales come from by region, device type, or platform allows marketers to focus their marketing efforts on those segments that generate the greatest return on investment.
Your app might perform exceptionally well in Southeast Asia but not that well in North America. With this information in hand, your marketing budget should focus on those regions that generate the greatest revenues.
As per Hubspot, existing customers generate 72% of the company’s revenue, while new customers contribute 28% of the total revenue. Therefore, it is crucial to keep tabs on the revenue generated from in-app sales.
Sales tracking is another tool for measuring in-app purchases (IAP) performance. It provides insight into which features or products users most seek. By observing user spending trends, sales tracking enables you to focus on improving those parts of your app that generate the highest revenue and create greater returns for all parties involved.
Photo by John Schnobrich on Unsplash
Demographics and segmentation
Knowing your users is just as essential to successful app development. Third-party store analytics often offer demographic details about age, gender, location, and device type. It is invaluable data that enables targeted marketing campaigns.
Your audience demographic insights allow you to segment and customize campaigns targeted explicitly toward various user groups. For instance, first-time visitors could receive special promotions, while inactive users could benefit from email re-engagement campaigns tailored specifically toward them. By understanding who makes up your target market better than anyone else, your marketing strategies can more successfully meet the demands of that customer segment.
Personalization is at the core of modern app marketing, and segmentation allows you to do this at scale. By crafting tailored messages specifically targeting different segments, you can increase engagement and retention rates significantly.
Churn rate analysis
The churn rate is one of the critical metrics for app developers. It measures the percentage of users who stop using your app after a certain period. Third-party store analytics tools can assist developers in tracking and analyzing churn rates to pinpoint trends in user behavior.
Understanding when and why users abandon your app gives you the power to address these issues proactively. For example, if you notice a high churn rate after 30 days of app download, improving the long-term value proposition might keep people engaged for a longer time.
Retention campaigns, regular updates, and in-app messaging can all help to decrease customer churn rates and ensure users remain loyal customers. Regularly monitoring this metric will give an accurate idea of whether your retention strategies are successful in keeping users coming back for more.
Ad campaign effectiveness
Running app advertising campaigns is an effective strategy to drive downloads and engagement; however, with accurate analytics, it may be easier to determine whether your ad spend is producing the expected results. Third-party store analytics provide real-time insight into campaign performance through metrics such as click-through rates (CTR), cost per install (CPI), and return on investments (ROI).
By carefully monitoring these metrics, you can optimize your advertising campaigns to reduce costs and boost conversions. Experimenting with various formats, such as native ads, banners, or video ads, to determine which one best resonates with your target audience can also prove fruitful.
Additionally, A/B testing your creatives and targeting criteria allows you to fine-tune campaigns for maximum efficacy. It ultimately helps to reduce CPI while driving higher-quality installs that lead to long-term app engagement.
User Feedback and Reviews
One often overlooked element of third-party store analytics is user feedback and reviews. While quantitative measures such as download numbers and revenue are necessary for the evaluation of an app’s success, qualitative insights from user reviews provide more of an idea about what users think about your application.
By carefully considering customer feedback, you can gain invaluable insights into your app’s strengths and weaknesses. Positive reviews may attract new users by building social proof. Negative ones reveal potential areas for improvement.
Regularly monitoring and responding to user reviews not only strengthens your app’s image but also builds trust between yourself and its target audience. Satisfied customers are likely to leave positive reviews or recommend your app to their peers, driving the organic growth of the business.
Data-driven decisions
As app markets continue to shift towards data-driven apps and games, data-driven decision-making has become essential. Third-party store analytics give you the tools to monitor every aspect of app performance, from user behavior and sales to advertising campaigns and customer feedback.
They provide insights that will allow you to optimize marketing strategy, enhance user experience, and ultimately drive downloads and revenue growth.
Conclusion
Obtaining precise data is vital to gaining insights into their target market, enhancing app listings, and, ultimately, increasing sales.
In conclusion, the strategic use of third-party store analytics stands as a fundamental step for app developers and marketers aiming to thrive in a competitive market. By focusing on accurate data analysis, developers can not only understand their audience better but also optimize their offerings and drive significant sales growth.
This approach not only ensures a more targeted and efficient marketing strategy but also opens up avenues for continuous improvement and success in the dynamic app marketplace.
At AVOW, our specialty lies in helping app developers harness the full power of third-party stores to grow their apps. Our data-driven solutions focus on optimizing performance, visibility, and sales—something app marketing teams often struggle to do effectively on their own. Contact us now to learn how third-party store analytics can unleash extraordinary growth!