How to Develop Measurable Cohorts
A cohort is a group of users who experience the product value at about the same time.
- Look at users for a month. The first month is Month Zero. All the users that experience the product in Month Zero is your cohort.
- Track the behaviour of each key retention metric for that cohort of users.
A PM can look at data per cohort to see what numbers improved over time. This can highlight the value within your product that attracts and keeps your users.
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How to Built Retention Metrics
- Have enough tooling to track signups on a cohort basis, such as Google Analytics, Google Analytics 360, Segment, Mixpanel, or Amplitude.
- Know your proxy metric. What action is the user performing? (consuming content, a download, a daily active user?)...
Unlearn your own product
Over time, you as a PM may become so used to your own product that it limits your ability to notice small flaws in the user experience.
Look at the product from the perspective of a new user, and find the missing pieces of information that prevents the user from a great experience.
Four Key Factors that Impact Retention
Focus on new users and the initial experiences they have with your product.
To create a great first impression:
- Run experiments on user onboarding.
- Personalise your sales process.
- Incorporate feedback loops.
Target better user...
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