User Retention

It is User Retention not metrics like User Registration, login, etc.

Simply, it can be defined as how long a user sticks, from its "Day of Acquisition" i.e: days since user used the product first.

A better way of looking at it is after the 30th day:

Why is Retention useful?

• Registration of other metrics don't indicate how much users Convert
• Users may covert once, but retention determines that they stick to convert more (for subscription based services)

Measuring Retention

• Retention matters on the basis of context:

  1. Ex: Social Site: > 80% retention is needed
  2. Ex: E-commerce Site: 20-30% retention is fine.

• Measure in User Cohorts:

  • Look at the first 1, 10, 100, 1000, … lets suppose "k" users
  • What is their retention after "x" duration?

Need for Growth Team

• When is Growth Team (External Marketing) Needed?
  • When retention has been good -> then its safe to move bringing in more users
  • If retention is not good -> probably focus on product, not growth yet.
  • For the first few users: 4. Product & Users

The "North Star"

• For example:
  • AirBnb -> Bookings on platform compared to traditional setting
  • Facebook -> Monthly Active Users

User Story boarding

• Improving User Experience? Think of the experience from User's POV, like:

  1. First Impression:
     • How does the user enter on the site initially? -> Landing Site, Login form, etc
     • How easy is it to understand from their POV?

• Better defined in 7 - Products User Love

Tactics for Growth

1. Viral-ity

• Defined by:
  • Payload -> How much can you reach at once?
  • Frequency
    • How many times can you reach into one user?
    • Now, if you hit user past a certain threshold "k", it has -ve effect.
  • CR (Conversion Rate)
• ref: [Viral Loop - by Adam L PenenBerg]

2. SEO

1. Keyword Research (recommended: Google AdWords)

   • What do people search?
   • How many people search that?
   • How Valuable is that keyword to you?

2. Linking

   • Internal link Clicks & CTA placement
   • External links to our site

Final Tip for Growth:

1. Move Fast
2. Don't be afraid to experiment around and break stuff
3. Experiment more than others, and early on the better!
4. Early Execution >> Perfection in future