For mobile publishers to thrive in today's competitive market, understanding app user experience is crucial. It's not just about creating an amazing app; it's about knowing how your app stacks up against the competition. In this article, we'll explore the importance of mobile app benchmarking and provide a step-by-step guide on how to do it.
What is Mobile App Benchmarking?
Mobile app benchmarking is the process of comparing your app's performance to that of other apps in the same category or function. This analysis helps you identify areas for improvement, set performance standards, and make data-driven decisions to drive growth. By benchmarking your app against similar apps, you can gain valuable insights into what's working and what's not.
Why is Mobile App Benchmarking Important?
Mobile app benchmarking provides market visibility, helping you understand how your app compares to the competition. It also enables you to create SMART goals, ensuring you're focused on the right metrics to drive growth. Furthermore, benchmarking helps you make informed product decisions by identifying what's working and what needs adjustment.
How to Benchmark Your App: A Step-by-Step Guide
Step 1: Build Your Market
Start by gathering a list of apps similar to yours in terms of genre or function. You can browse the app stores or use a mobile intelligence platform to find relevant apps. Organize these apps into three categories: direct competitors, indirect competitors, and aspirational competitors.
Step 2: Define Your Goal(s)
Determine what you want to achieve through benchmarking. Is it a general performance check-in for your app? Or is there a specific KPI or feature you're concerned about? Knowing your goal will help you focus on the right metrics and extract more actionable insights from your analysis.
Step 3: Gather Data and Benchmark
Analyze the performance of the apps in your market, comparing it to yours. You can collect publicly reported data or access estimated data through a mobile intelligence platform. Use this data to calculate the average DAU (daily active users) for your market and compare it to your own app's performance.
Step 4: Assess Performance and Adjust
Based on your analysis, assess your app's performance compared to that of your competitors. Determine which areas are performing better or worse than yours. Use this information to adjust your strategy, optimize your app, and drive growth.
By following these steps and incorporating mobile app benchmarking into your workflow, you'll be able to identify areas for improvement, create data-driven goals, and make informed decisions to drive long-term success.