Shopify addressed user needs by opening its platform to 3rd party developers for app creation. Your team is developing the Shopify App Store, facilitating app discovery/installation for merchants to boost business growth. What are the goals and success metrics of this marketplace?

Assumption: 

1. When this app is launched, it is acting just as a App discovery platform and revenue model is through hosting and app installs

2. There is no revenue model through IAPs apart from installation (In-App Purchases etc)

The stakeholders of this feature are as follows:

1. Users (Who listen on Spotify and gonna be installing apps from this store)

2. App publishers (Companies who build on top of the Shopify 3rd party framework)

Primary goals of any market place are the following:

1. Maximise Discovery of Content (Apps published in this case) hosted in it

2. Maximise Revenue made from the platform fee it charges the publishers or other revenue sources

Keeping the above 2 goals and the stakeholders in mind, following are the metrics to be :

1. Number of App Installs through this store (This will be the north star metric) - This is our north star metric because it is the absolute leading indicator for Engagement on platform (Discovery), Revenue of the platform.

If this metric increases then we know that the platform is doing well. 

Keeping above statement in mind, we define the sub metrics for Number of App installs from below 2 equations: 

a. App Installs = Number of App partners in the platform* Number of Apps hosted per partner * Installation ratio per app 

b. App Installs = Number of users in the platform * App Installs per user

-------------------------------------------------------------------

From above 2 equations, below are the sub metrics we need:

1. Number of App Partners in platform:

   a. WAU, MAU of App Partners in platform (DAU is not important as App partners release apps once or twice a month per app)

   b. Number of App Partners onboarded on WOW, MOM basis

   c. Retention rate of App Partners 

2. Number of Apps hosted per partner:

   a. Number of Apps hosted per partner

   b. Average number of App updates per month per Partner

   c. Average Revenue per Partner for Spotify

3. Installation ratio per app:

  a. Number of clicks, impressions on the app

  b. Conversion rate of user from clicks to installation per app

4. Number of users in the platform:

  a. WAU, MAU of Users in platform

  b. Retention rate per user

5. App Installs per user

  a. Average Session duration per user per week (week is a better timeframe than day as this marketplace is not a daily use app)

  b. Average Sessions per user per week

  b. Number of clicks, impressions per user

  d. Conversion rate per user from clicks to installation

  e. Average Revenue per User for Spotify