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I'm a big fan of Mixpanel and their retention functionality. I love digging into the retention of a feature or event and doing comparisons. This sort of analysis is much too deep for our executive bi-monthly snapshot though. Where I'm stuck is trying to roll-up retention as a dashboard KPI for the execs (and growth team) as a "smell generator" type of number. I'm curious how you all do this sort of monitoring and roll-up reporting.

  • KH

    Ken Hanson

    6 months ago #

    I thought I'd go ahead and post where we landed after some light research in hopes that I could get some feedback from the community on our solution as well as hear any pitfalls this method of rolling up retention into a single monitorable number could create.

    We meet with executives as a Product and Growth team twice a month. We decided to focus on First Time Retention reports in Mixpanel (how our users retain after their first signup event).

    We also decided to break the retention out into 2 stats:

    1. First Week retention: lift, monitor, and optimize that first initial fall off of our retention rate
    2. 4 Week retention: monitor and optimize the speed at which retention rate degrades (we suspect our users are monthly).

    These are the steps I'll take each time I generate this report, likely working with the Mixpanel API's to automate this eventually:

    Assuming our review is Feb 15th, an example path to a roll-up report would be:

    1. Group cohorts by week, starting with the earliest cohort that has had a full 4 weeks of retention (Jan 8th in this case)
    2. Walk back 3 cohorts (Jan 1st, Dec 25, Dec 18)
    3. Get the average retention rate for Week 1 and Week 4
    4. Compare these results to the 2 weeks prior averages (Dec 25, Dec 18, Dec 11, Dec 4)
    5. Monitor the trend and discuss analysis explaining anything significant in the data

    This obviously doesn't go as deep as the normal growth team would (segmentation, a/b results, etc.) but does a good job of generating smells for the executive team to poke and ask questions about while helping the growth team keep an eye on the overall retention and ensure that their efforts aren't actually lowering important metrics.

  • AR

    Alistair Roque

    6 months ago #

    Customer retention has different meaning depending on what field, the job is not easy as its sounds. In case of call center solutions, the customer retention team can be just like talking to customers out of the decision to cancel a service. They must observe certain practices in order to succesfully make the customer stay.

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