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What's a good onboarding percentage to target?

We built a wonderful little recipe storage app called RecipeBox and we're curious about onboarding percentages for new users. We're tracking our conversions with Firebase with two events - one for first open and one for when a user registers or signs in.

These are exclusively users who've downloaded our app from the App Store and opened it for the first time.

In the last 28 days we've had 6691 first opens and 3918 successful authentications giving us a 58.6% conversion rate. My gut tells me this should be much higher and I want to get our numbers to 70%. Is that a sane target? Too high? Too low? I'm curious what others are targeting and guidance would be greatly appreciated!

on July 17, 2021
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    Is your app web-base app?
    If so you can try use Twik for your BI. It doesn't rely on cookies rather then fingerprint - so once a user completed the registration even multiple times, it would still considered as one registration.
    The data is well delivered, and easy to follow and gives you a much accurate information.

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