Retention Analytics allow 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 action continue to return and complete an important subsequent action over time. An action 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?
A Retention Analytics report is structured 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 table 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 any data-driven company that wants to monitor customer loyalty and engagement over time.
Let’s consider an example of a B2B SaaS company. It’s of vital importance for any modern data-driven company to know how engaged the new customers are with their key product offering right after they sign up. In order to analyze your new users’ stickiness, you can build a two-step retention report where the initial action would be a “signup” and the repeat action would be an event that demonstrates user engagement with your product (this might be a customer starting a meeting, creating a report, sending an email etc). The retention report would instantly show you the engagement of your new signups and at what point they start tapering off. The report can also give you an important insight on how to redesign your engagement email drip campaign or how to put together a solid product strategy to keep your users coming back.
Another example might be a use case where you want to check how engaged your users are with the mobile app you’ve recently designed to enhance your SaaS product offering. Your goal is to see if the users come back to engage with the app after they download it on their smartphones. In this case, you can set up the initial action as a “mobile app download” and the repeat action would be a “mobile view”. Now you can gauge if the users are coming back to your mobile app and at what point they start droping off. The retention report can give you and your team important an important insight on to optimize your in-app messaging and notifications.
Go to the Analyze Section in the Woopra Navigation Bar and click on the “New Report” button in the upper right hand corner. Select “Retention” as a report type you want to create.
Pick a name for your report, then choose the custom timeframe for you retention analysis. Select your initial action, such as a signup event, download of your mobile app, or whatever important action that defines the cohort you want to monitor. Remember, choosing the initial action is extremely important as it determines what kind of engagement you will be analyzing. You can define your actions, using our action filters as shown below.
Next, select the action to be performed repeatedly by your customers.
Click on the ‘Run” button in the Configure section to create your report. A retention report will be instantly generated with two column types. The first column, in blue on the chart, shows the total number of visitors who’ve completed the first action. The following columns, in the light shadows of blue, show how many of users in the cohort have completed your second action over the set period of time.
If you want to have your report saved, click on the Save button. Keep in mind that you can always make quick changes to your Retention reports without saving them by clicking on the Run Button.
As with all of Woopra’s features, you can use Woopra’s Segments and Segmentation filters to get deeper insight into how different types of customers engage with your content and product.
In the “Performed By” section, you can select a Segment of users that you’ve already pre-defined in the past (it might be your most-engaged users, users-at-risk etc). Alternatively, you can configure your own segmentation filter within the report by clicking the “+” sign.
For more information on configuring segmentation filters, please see our documentation on defining Segments and Segmentation.
- Sharing Reports: Retention reports can be shared with your Groups of Users. To share a report, click the three dots on the right and select the Groups you’d like to share with.
- Tagging Reports: Retention Reports can be tagged with any functional tag you’ve created before to keep your reports organized. Note that you can also share your tags with other users of Woopra!
- Pinning to Dashboard: Click on the “Pin to Dashboard” button to add your retention to your custom dashboard in Woopra and instantly access your retention data.
- Exporting Report Data: Report data can be exported in various formats by clicking the export button. An export field will show available format types to choose from as well as Schedule Reports options.
- Editing Reports: You can always edit your existing retention reports without saving them by clicking the Run button. If you want to have the edited retention report saved, you have an option to either save it within the existing report by clicking Save or save it as a new report by choosing the “Save as” option.