Lemon #6. How to
While Reading “Growth Hacking” from Luis Díaz del Dedo we learned that retention is the capability that a product has to get the users to come back and use it.
A high retention is always linked with:
- Client satisfaction.
- Convenience: changing providers is painful for users.
- Value added.
The retention shows the value that we give to our users and clients and it tends to be measured through cohorts (link).
To measure retention besides cohorts we tend to use:
- Unique Users
- Unique Active Users
- Daily Active Users (DAU), Weekly Active Users (WAU), Monthly Active Users (MAU).
- Stickness of the solution: DAU/MAU. How many users within a month use the product every day?
All these measures need to be analyzed and compared one to the other. Numbers alone do not add any value. For example, the following metrics do not tell us anything about the greatness of our product:
- Web visits
- Followers in Social Media
- App downloads
Luis Díaz del Dedo @ Growth Hacking.