How to Define and Measure Retention Rate?
In this skill, we will explore how to improve retention rate for an online business. Before getting into the growth levers & tactics to do so, we will first learn how retention rate is defined and measured.
Specifically, we will learn:
- ☞ Defining and Calculating Retention: Understand how retention is defined and calculated across different business models.
- ☞ Impact on Business Growth: Analyze how retention influences the growth models and viability of businesses.
- ☞ Nuances of Retention Metrics: Examine the specific retention metrics used in e-commerce, consumer apps, and SaaS businesses.
Let’s start this detailed examination of customer retention.