14 Mobile Metrics that Matter to Insurers
Published June 25, 2014 12:00 AM
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Updated June 25, 2014 1:14 PM
1 Min Read
In his latest blog post, Joe McKendrick discussed how the role of mobile technology at insurance companies has opened up both new avenues of interaction with customers and new dimensions to internal operations. The current challenge for insurers, he said, is being able to measure what's working and whats not with their mobile engagements. To that end, McKendrick highlighted a recent report from professional services firm EY that examines the various metrics insurers should put in place to track the profitability and value of their mobile engagements. The following pages outline each of the key metrics EY says insurers should capture in order to understand if a mobile outreach effort is having a positive impact. Photo courtesy of Thinkstock
1. Session Time
The average amount of time spent on a mobile site Photo courtesy of Thinkstock
2. Depth of Visit
The average number of screens viewed compared to number of visits Photo courtesy of Thinkstock
3. Frequency of Visit
The ratio of the number of visits to the number of users over a period of time Photo courtesy of Thinkstock
4. Bounce Rate:
The ratio of number of user visits with a single view event to total number of visits Photo courtesy of Thinkstock
5. Total Downloads
The number of times app is downloaded from an app store Photo courtesy of Thinkstock
6. App Users
The number of unique app users over a period of time
7. New Users
The first-time app users during a specified period of time Photo courtesy of Thinkstock
8. Usage Rate
How many people are using the site over a period of time Photo courtesy of Thinkstock
9. Metric Benefit Impressions
The number of times a specific ad has been accessed or viewed by a user Photo courtesy of Thinkstock
10. Clicks
The number of times a specific ad has been clicked on after being accessed or viewed by a user Photo courtesy of Thinkstock
11. Click-through Rate
The number of clicks divided by impressions Photo courtesy of Thinkstock
12. User Acquisition Cost
The business cost to acquire a new user Photo courtesy of Thinkstock
13. Average Revenue Per User
The total revenue divided by the number of users Photo courtesy of Thinkstock
14. Conversion Rate
The rate at which users are converting on the mobile site or app Photo courtesy of Thinkstock