One of the most popular functionalities in the Priori Data platform, used by companies of all sizes and industry verticals, is the Competitive Benchmarking of individual apps.
Whether you are competing for keyword positions, top chart ranks, or niche markets, the ability to understand how a given app is performing against another is a critical component of your research, and an absolute prerequisite for winning your mobile market. In this blog post, we’ll walk you through how app and game developers can perform a benchmarking analysis with Priori Data App Intelligence.
Internal vs. External (market-based) Analytics
Many app developers spend the bulk of their time and resources analyzing the performance of their own apps, and there are highly sophisticated analytics tools for tracking user events, advertising campaign attribution, and engagement statistics. We refer to this group as internal analytics solutions, and they are a must-have for serious developers.
Companies that want to take the next step in thinking strategically about the performance of their apps turn to solutions like Priori Data for what we refer to as external, or market-based analytics. The primary purpose of these solutions is to answer the question: “How is my app performing relative to my top competitor?” Only an app intelligence offering can give a precise, quantifiable estimate for the performance of other apps.
With this feature, you can compare the historical performance of up to 10 apps side-by-side, with plenty of filter options to drill-down to specific metrics, countries, devices, or time periods that are relevant for your comparison.
One of the great features of Priori Data’s Compare Apps reports is that you can plot Apple and Google Play results for the same app in a single graph, which saves valuable time and allows you to quickly answer questions about which platform is most important for a particular app franchise.
Comparisons can be saved and stored directly in our platform (with all filters preserved) for one-click navigation, allowing you to keep your favorite views always within reach.
You can perform another type of competitive benchmarking by thinking about your competition as a group of apps, which in aggregate represent the “market” for your app. That could be 5 apps for a hyper-focused genre like “fly fishing”, or it could be 50 apps in a more popular genre like “poker”.
When analyzing the position of your app relative to the competitive set, there are three key questions to focus on:
- What is my market share?
- How am I growing relative to my individual competitors?
- How am I growing relative to our combined market?
Priori Data App Intelligence answers these questions with the Watchlist functionality.
As you unlock apps within Priori App Intelligence, you will be prompted to add apps to a Watchlist. Watchlists can be created on the fly, and every Watchlist will be saved in the Dashboard section labeled “My Watchlists”.
Watchlists can be a broad or narrow as your definition of a competitive market. Have country-specific competitors? Build individual Watchlists which allow you to track performance market-by-market.
On each Watchlist, you will be able to see the market share of each app on the list as a % of the total, as well as the individual app and overall list growth since the prior period. As always, filters can be applied by metric, country, device, and time period, and you can also add apps cross-platform.
Priori Data App Intelligence also offers two key features that keeps you and your organization fully up-to-date on competitive activities, without having to build messy powerpoint reports week to week:
First, if you are on a plan which supports multiple users on your account, you can share watchlists with other members of your organization directly. Second, all users can elect to receive a Weekly Digest via email containing the summary performance of all watchlist apps over the past week. Staying on top of the competition was never easier!
Whether you like it or not, your app is one of millions in the app stores, and winning your mobile market is going to require having a window into the performance of your competition. If you focus solely on the performance of your own app, you might fail to capitalize on an important market trend or shift in consumer tastes that could mean the difference between success and failure.
Luckily for you, Priori Data App Intelligence will help you make sure that you never get left in the dark.