Conversion Rate: The percentage of users who take a desired action within the app, such as making a purchase or signing up.
What is the Conversion Rate of a Mobile App?
Conversion Rate in the context of mobile apps is a key performance metric that measures the percentage of users who take a specific desired action within the app. This action could be anything that aligns with the app's goals, such as making a purchase, signing up for an account, completing a level in a game, or filling out a feedback form. The conversion rate is a crucial indicator of the app's effectiveness in engaging users and achieving its business objectives.
How Do You Calculate Conversion Rate for Apps?
To calculate the conversion rate for an app, use the following formula:
CR = (Number of Conversions/Total Number of Visitors)x100%
Identify the Desired Action: Define what constitutes a conversion for your app. This could vary greatly depending on the nature and purpose of the app.
Track the Number of Conversions: Use analytics tools to track how many users complete the desired action within a given time frame.
Determine the Total Number of Visitors: Count the total number of users who visited or used the app during the same time frame.
Perform the Calculation: Divide the number of conversions by the total number of visitors and multiply by 100 to get the percentage.
For example, if 500 out of 10,000 users complete a purchase in your app, the conversion rate is (500/10,000)×100%=5%(500/10,000)×100%=5%.
Regularly monitoring and analyzing the conversion rate helps app developers and marketers to understand the app's effectiveness in motivating users to take desired actions and to strategize for improvements.