Retention Analytics allows you to investigate the activity of your visitors over time by illustrating how long visitors continue to get value out of your product. Reports lay out how many of your visitors who complete an initial goal continue to return and complete an important subsequent goal over time. A goal could be something as simple as return visits to your site or something as complex as opening your weekly promotional emails from MailChimp.
Put simply, Retention Analytics allows you to understand:
For how long do my customers who did X keep coming back to do Y?
Retention Report Structure
A Retention Analytics report is displayed in 2 parts:
- The top chart aggregates all of the cohorts together, showing you the overall (average) retention rate of your visitors within a range of dates.
- The lower chart displays the retention of individual cohorts independently to monitor any changes in retention rates over time within your date range.
Retention reports are important for anyone who wants to monitor customer loyalty and engagement over time.
Let’s consider an example, an education company which hosts classes through online videos. They might set up a retention report with two steps: First, how many visitors sign up for a paid account. Then, how many of these watch a video. The resulting report would instantly show how long important, paying customers continue to come back and watch course videos before they start to taper off, allowing the company to develop strategic actions for key times.
Another example might be an online game company, whose business model depends on gamers coming back day after day to keep playing. It’s of vital importance to this company to monitor their customer’s engagement with them and rapidly identify danger points when they start to lose customers. This company could set up a retention report similar to the one above, analyzing how many of their visitors from a specific campaign who have signed up actually become invested in the game, and continue to play over time. With this information, they can target new content or tasks to visitors when they begin to reach at-risk stages.
Creating Your Retention Report
Setup the Report
Click the “+” button at the top left of the Retention column to create a new report. You will be presented with a dialog box asking you to name your report and select the two steps.
Choose a name for your report, then choose your initial goal, such as a signup event, download of your software, or whatever important action will define the visitor group you wish to consider. Remember, choosing the initial action is extremely important, as it will determine which visitors engagement you will be analyzing. You can define your goal using the filter as shown below. For more information on how to define these filters, please see our documentation on defining triggers.
Next, you’ll select the action to be performed repeatedly by your customers.
A retention report will be instantly generated with two column types. The first column, in purple on the chart, shows the total number of visitors who completed the first action. The following columns, in green, show how many of this initial group then completed your second task over the set period of time. (Defaults to 7 weeks)
Working With Report Data2>
As with all of Woopra’s features, you can use filters to segment reports, giving you deeper insight into how different types of customers engage with your content and product.
From the drop-down at the top left, either select a saved label (Labels) or, select “New Segment” to create one on the fly using segmentation filters. For more information on configuring segmentation filters, please see our documentation on defining segments.
- Sharing Reports: Retention reports can be shared with your Groups of Agents. To share a report, click the arrow and select the Groups you’d like to share with.
- Pinning as Dashboard Widget: The pin icon will instantly create a widget on your dashboard defined by your report settings. Click on the widget from the dashboard to be directed straight to the full report.
- Exporting Report Data: Report data can be exported in various formats by clicking the export icon (downward arrow). An export field will pop up listing available format types to choose from, as well as a ‘schedule task’ option, which will set a task to email the report data, including any segmentation defined, on a regular interval of your choosing.
- Editing Reports: Once a report is loaded, the gear icon in the top right allows the report to be edited, duplicated, deleted or closed.
- Adjusting Date Range: Woopra will calculate the retention report based on any period of time available. By default, it is set to Auto. Auto will give you the most recent retention information possible to cover the selected time-block you set with the dropdown menu. You can change the period of time that you are interested in by clicking the calendar icon.