Measuring an online business’s success starts with customer engagement. Are people continuously coming back to your website or mobile app? Are you delivering value? Essentially, how much do customers like using your product?
We’re excited to announce today’s release of a brand new feature: Retention Analytics. This feature helps businesses easily answer the questions above.
What is Retention Analytics?
Put simply, Retention Analytics allows you to understand the following: If a customer did X, for how long did he or she subsequently do Y? For example, if a customer signs up, for how long did he or she continue to return to the website?
A retention report will be displayed in 2 parts. At the top, you will see all the the cohorts aggregated in one bar chart showing you the overall retention rate of your visitors between any two dates.
The lower part displays the retention of cohorts independently which will help you see the improvement of retention over time within your date range.
What Are Some Examples?
Retention Analytics will help you answer questions, such as:
- How frequently are visitors returning after the first visit? Understanding this basic report will help you gauge how compelling your content or product is.
- After a customer signed up, for how long did he or she continue to upload images or do similar actions that are relevant to your business? This will show you visitors’ long-term levels of engagement.
- After receiving a newsletter, for how long did a visitor continue to visit your website? The answer to this question will help you figure out the ideal amount of time between newsletters that will keep your customers engaged without being intrusive.
Segmented Retention Analytics
And of course, just like all of the Woopra reports, you can run Retention Analytics on specific customer segments in order to gain deeper insight into how different types of customers engage with your content and product.
Spend some time exploring the new Retention Analytics feature and share your feedback with us in the comments below!