This essential metric assists you in evaluating your application’s performance per consumer. In general, a higher retention rate should be your highest priority because your loyal, long-term customers create positive dynamics and monetization opportunities within your product.
This vital parameter is also helpful for figuring out why a certain percentage of your consumers ditch your application, as well as getting the bigger picture of your application’s worldwide performance. Eventually, this information enables you to comprehend the stuff you need to tweak to make your core consumers stay with your brand longer.
Ultimately, the app retention rate gives you an insight into the lifespan of your product. Don’t forget that this parameter alters depending on the niche your product caters to. For instance, users may install a video collage app only when they need it, then take advantage of it, and uninstall it once their collage is ready. This scenario shouldn’t worry you because this pattern is typical for certain industries.Here’s a brief outline of other perks of a high app retention rate for your business:
- loyal clients will bring their friends;
- happy customers leave positive reviews;
- more returning customers means more money;
- more money equals stable company growth.