Have you already heard about new peer group benchmarks on App Store Connect? On March 1st, Apple expanded its App Analytics features with benchmarks. In other words, this new feature allows you to better understand your app's performance by comparing it with similar apps in the same category.?
Which insights can you gain with peer group benchmarks?
- Conversion Rate: if your app has less conversion rate than apps in the same peer category, you need to consider actions like setting up product page optimization tests, creating custom product pages, or putting more effort into localizing your app and product page.
- Proceeds Per Paying User: this metric is a challenging one to identify during competitor business model analysis; however, now you can examine if your app complies with the category benchmark. To improve this metric, you need to evaluate your pricing strategy, focus on the best UA source and put more marketing efforts there, and emphasize the value of in-app purchases during the onboarding experience.?
- Crash Rate: it is vital to keep your crash rate as low as possible, but crashes happen, and not only with your app. With the crash rate benchmark, you can see if your app is over the average rate and then pinpoint potential issues.
- User Retention: to make sure your app's engagement is on a decent level, you can now see the retention metric on Day 1, Day 7, and Day 28. By comparing these metrics with industry standards, you can identify areas where improvement is needed and take action to boost engagement through in-app events or by enhancing your app's onboarding process.
Have you already compared your app performance with your peer group? Let us know if you're dissatisfied with your app's current status, so we can help you improve your performance!
