Previously, we were comparing fund-raising options. This time, we would like to compare Analytics Tools that you can use in your startup. So, did you know that the Apple App store has nearly two million apps available for download? This means there will be a lot of competition when it comes to launching your brand new mobile app.
When you are developing your app, research is essential. If you don’t carry out research, you may end up launching an app that your target audience just isn’t interested in.
One of the ways you can gather research and discover valuable customer data is by using analytics. Join us as we look at the benefits of using mobile analytics tools and some of the best ones that are available.
Importance of app analytics in your startup
What are the advantages of using analytics tools?
Here are some of the ways that analytics tools will be of benefit when you are developing your mobile app.
An analytics tool can help you determine user flow
A user flow shows how users will move through your app. Monitoring your user flow will let you know where users are getting stuck or dropping off. This will allow you to optimize the flow of your mobile app’s navigation for the best results.
An analytics tool can help you identify use cases
A use case describes how a user will accomplish a goal on your mobile app (for example, completing a level on a game or making a purchase on a shopping app).
Accessing app analytics will help you see if users can achieve their goals and if anything is stopping them from doing so.
An analytics tool can help you determine your target audience
Sometimes before you launch, you may have a specific target audience in mind. However, when you launch your app (perhaps as a minimum viable product), you may find that it appeals to a totally different audience!
You can use analytics to check the demographics of your key audience. How old are they? Do they have children? Where do they live? What type of mobile phone are they using? You can then factor this information into your strategic roadmap and advertising campaigns.
An analytics tool can help you see how much money you will make
If your app is an eCommerce app or offers in-app purchases, you can use analytics to see how much money you are making from users, and how much you could potentially make in the future.
You can then increase or decrease your prices as appropriate to ensure that you have hit the price point that is just right for your target audience.
Determining your goals
To get the most out of your mobile analytics, you need to know which goals you want to achieve. The goal will ultimately depend on the type of app you have developed.
For example, do you want to focus on:
- Ecommerce/ in-app purchases
- Audio/visual streams
- App launches
Once you know which goals you want to look at, you can set up conversions in your monitoring system of choice.
What business analytics tools can you use when developing your mobile app?
There is a wide range of mobile analytics tools you can utilize when developing your app.
Here are some of our favorites.
Google Analytics is most well-known for gathering website usage data, but you can also use it for mobile apps too.
The bonus of Google Analytics is if you are using it on your website, you can compare and contrast stats on your mobile app. For example, if you have an online eCommerce store and a corresponding mobile app, which one are you getting the most purchases on?
Firebase is another mobile analytics tool offered by Google. it is Google’s own mobile development app, which provides analytics as part of the package. This analytics is more focused on events than Google Analytics, which focuses on sessions.
The benefit of this analytics is that you can make amends to your app on the fly, in response to the feedback it provides. However, depending on the size of your project, there may be a monthly charge.
Mixpanel is one of the most popular analytics tools with larger companies like Twitter, Expedia, and Uber, with both free and paid-for options.
One of its benefits is that it offers add-ons, so you only pay for the functionality you need.
Leanplum has a lot of functionality. You can use it to manage mobile engagement and content management, as well as for analytics. Another unique selling point is that you can utilize A/B testing so you can see which messages and content resonate best with your users.
AppsFlyer is a paid-for system, but its unique selling point is that it integrates into a wide range of platforms including IOS, Android, Amazon, and the gaming development platform Unity. This makes it a great option if you need to monitor your presence across multiple channels.
If your app is available in IOS, Apple offers free analytics so you can see how many people are downloading your app from the App Store and their key demographics.
If you’re looking for an Android equivalent, you can access a selection of stats by signing into your Play Console.
In conclusion: Launching a Startup should be with analytics
When you are launching a start-up, it’s essential to track and monitor everything. This applies to mobile app development too.
Whichever analytics package you decide to use, be sure to determine which goals you want to monitor and track your stats regularly.
If you need help launching your mobile app, You are launched has been working with a wide range of start-ups since 2014, helping them get the support and funding they need.
Contact us today to find out how we can assist your startup