June Feature Update: Retention Analysis
Retention analysis is crucial for SaaS products because it helps businesses to understand how customers engage with their product over time. By grouping customers based on the time they started using the product (often referred to as cohorts, e.g. "July 2022 user cohort"), it allows companies to track specific user behaviors and measure their retention rates.
This information is invaluable in identifying patterns and trends in customer engagement, as well as assessing the effectiveness of different strategies and features implemented by the product.
The screenshot below shows the new retention analysis tool right within ISVapp and how to interpret the displayed metrics:
This feature can also reveal whether new customers are more engaged with a feature compared to those who signed up earlier. This insight helps companies gauge the impact of recent updates or changes and make data-driven decisions to improve customer satisfaction and reduce churn.
Where can I find the new functionality?
The feature is currently being rolled out. Once available, retention analysis can be accessed via the Show User Retention button on each individual feature (Product Insights > Features).
As always, we appreciate any feedback or questions via [email protected].