Achieving 80% User Retention for Retirement Applications in Mixpanel | Mixpanel Community

Achieving 80% User Retention for Retirement Applications in Mixpanel

Retention in the sense that we want maybe 80% of our users who are yet to complete their retirement application to come back within a week? Is this achievable in Mixpanel using cohorts and retention feature?

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kapa.ai
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kapa.ai
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Yes, you can definitely use Mixpanel's cohort and retention features to track and analyze whether 80% of users who haven't completed their retirement application are returning within a week.Here's how you can approach this: 1. Create a cohort of users who started but haven't completed their retirement application. You can do this using the Cohort Builder in Mixpanel, where you can define specific criteria such as users who performed an initial application step but not the final completion step. As the Mixpanel documentation explains, "Cohorts are groups of users that share a certain set of properties or who perform a similar sequence of events." You can create these cohorts via any report visualization or explicitly using the cohort builder.2. Set up a Retention report to analyze how many of these users return within a week. Mixpanel's Retention report is specifically designed to "assess user engagement over a specified period of time" and can help you understand "how long users continue to come back and find value from your product" according to Mixpanel's documentation.3. Configure the retention criteria to measure whether users are returning within your desired timeframe (one week). You can set the interval to "week" and analyze the retention rate at the 1-week mark.4. Monitor the retention rate over time to see if you're achieving your 80% target. If not, you can use this data to implement strategies to improve return rates.Mixpanel also offers a "Frequency" view in retention reports that could be useful for your case. This feature lets you "learn how frequently users return to use your product or service" and can show metrics like "unique days in a week" that users were active as described in their documentation.For your specific goal of 80% retention within a week, you'll want to pay attention to the retention rate percentage in your reports. While this is an ambitious target (most industries see much lower retention rates), Mixpanel gives you the tools to measure it accurately and experiment with ways to improve it.
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