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About the Episode
Did you know that you can increase your app monetization by increasing your retention rate? Well today’s guest talks about 3 factors that will help you keep users coming back to your app and help you earn more money. Also, listen to his tip about how you can evaluate your next app idea.
Retention : Keep Them Coming Back For More
Chris strongly believes that if you have user retention figured out, everything else will follow. Some of the things he does in his app to do this are:
- Adding new levels and sending push notifications letting users know about the new additions to get them to go back to the app.
- Giving coins away every time users come back so they get incremental increases for re-visiting.
- Analytics : Keeping track of KPIs (Key Performance Indicators) from the get-go to see what the issue is when you see the data. Example, seeing that users are leaving in Level 3, how do you solve that problem?
Evaluating Your App Idea
For consumer-based apps, Chris evaluates by looking at the app store, watching the top grossing app and checking out what’s working for other people. Then it gets him to think what he can do to his apps to apply the things that made these top apps successful.
In the app store, he also checks how he can differentiate his offering and asks, “Is there a space for me in this niche?” He does key word research to check if that space is not crowded yet and if he can execute, he will further dig in to analytics using Sensor Tower to measure traffic and check out the completion to make the idea actionable.
What advice would you give to anyone looking to build a mobile app?
The best way to get started is to build an app, get it all the way through to the store, get it approved and get that feeling of driving people and understanding the numbers. There is nothing like that experience, you can’t read it, you really have to go through it.
– Fav app:
- This Intermittent Fasting App is Making $300K a Month - June 3, 2020
- 786: Why It Pays to Be Bold with App Monetization Guilhem Duche - June 2, 2020
- Mobile Game Monetization: How to 2X ARPDAU - June 1, 2020