From the course: Data-Driven Product Management

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Product retention strategy

Product retention strategy

From the course: Data-Driven Product Management

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Product retention strategy

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- [Instructor] Retention is not something that you need to do once you've achieved a certain level of growth, it's something you need to consider from your first customer onboarding. Attrition is a natural part of the customer lifecycle. But as a product manager, your job will be to minimize it and keep customers using your software products as long as you can. Churn is what they call when you lose someone in your application. There are two types of churn, customer churn, where someone cancels or downgrades a subscription or other loss of revenue, though, they still continue to be a user. And there's user churn, where your users actually stop using your application for good. There are a few ways that product managers measure retention. All are done over a time period. N-day retention, unbounded retention, and bracket retention. Let's have a look at these. N-day retention measures how long people stay after they sign up. So you may measure five-day retention or 30-day retention, for…

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