By Tobin Harris
Managing Director, Pocketworks
March 12, 2023
Updated August 14, 2023
One of the main problems we face when developing apps is knowing where to focus our time and money so that we can do things that have the most impact. This quick article explores how you can spot opportunities to focus on, so you can grow your revenue.
The first step is to set up some simple analytics in your app to get started. Here’s how:
1. Capture tiny events in the customer journey using analytics
2. Create a funnel analytic to show the waterfall
3. Let it run for a week
4. Spot the big gaps
5. Tweak your app to close the gaps
6. Compare your tweaked version with the previous one to see if it worked
Sometimes a tiny 1% or 2% change can lead to huge revenue increases, so it's worth it.
Once you've done this, you get a chart like this.
Now you can look for the big drop-offs and start digging into what's causing them. If you're stuck, you might add more analytics to reveal more detail. Or, consider looking at your voice-of-the-customer data (app reviews, helpdesk support cases, user interviews etc).
Feel free to drop a note in the comments to let me know how you get on.
Hat tip to Eric Reiss, who talks about this in his book, The Lean Startup.
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