Building Retention Strategies That Work

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6

Brennan Clark (Growth Marketing Manager at Sago Mini and Toca Boca - apps for kids) gives a rundown on how to build effective retention strategies that take into account different behavior between user segments.

Source:
Building Retention Strategies That Work
(no direct link to watch/listen)
(direct link to watch/listen)
Type:
Presentation
Publication date:
March 25, 2020
Added to the Vault on:
March 31, 2020
These insights were shared through the free Growth Gems newsletter.
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💎 #
1

Not every experiment needs to improve retention and you need to look across different metrics to see if it is a net positive for the business. Example: intro offers can increase CVR significantly so you need to assess if this outweighs the decrease in retention. 

05:08
💎 #
2

If you improve your retention by 10% (e.g. 80% → 90%) you double what you can pay if you're buying over a 4 year LTV. 

07:32
💎 #
3

During onboarding, give the user the tools they need to get the most of your app and quickly. 

14:14
💎 #
4

Understand granular KPIs so you can build ad campaigns and in-app experiences for specific segments. Example: ads on channel B (with shorter avg. retention) is a text ad, then show videos during app on-boarding to convey the same message as channel A users (with longer avg. retention) are receiving. 

15:00
💎 #
5

Personalization for push notifications increases open rates by 3x (Leanplum stats). Example: sports app where you have to select your favorite teams, etc. 

17:00
💎 #
6

Personalization for promotional emails have a 41% higher CTR. 

17:44
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💎 #
1

Not every experiment needs to improve retention and you need to look across different metrics to see if it is a net positive for the business. Example: intro offers can increase CVR significantly so you need to assess if this outweighs the decrease in retention. 

05:08
💎 #
2

If you improve your retention by 10% (e.g. 80% → 90%) you double what you can pay if you're buying over a 4 year LTV. 

07:32
💎 #
3

During onboarding, give the user the tools they need to get the most of your app and quickly. 

14:14
💎 #
4

Understand granular KPIs so you can build ad campaigns and in-app experiences for specific segments. Example: ads on channel B (with shorter avg. retention) is a text ad, then show videos during app on-boarding to convey the same message as channel A users (with longer avg. retention) are receiving. 

15:00
💎 #
5

Personalization for push notifications increases open rates by 3x (Leanplum stats). Example: sports app where you have to select your favorite teams, etc. 

17:00
💎 #
6

Personalization for promotional emails have a 41% higher CTR. 

17:44
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💎 #
1

Not every experiment needs to improve retention and you need to look across different metrics to see if it is a net positive for the business. Example: intro offers can increase CVR significantly so you need to assess if this outweighs the decrease in retention. 

05:08
💎 #
2

If you improve your retention by 10% (e.g. 80% → 90%) you double what you can pay if you're buying over a 4 year LTV. 

07:32
💎 #
3

During onboarding, give the user the tools they need to get the most of your app and quickly. 

14:14
💎 #
4

Understand granular KPIs so you can build ad campaigns and in-app experiences for specific segments. Example: ads on channel B (with shorter avg. retention) is a text ad, then show videos during app on-boarding to convey the same message as channel A users (with longer avg. retention) are receiving. 

15:00
💎 #
5

Personalization for push notifications increases open rates by 3x (Leanplum stats). Example: sports app where you have to select your favorite teams, etc. 

17:00
💎 #
6

Personalization for promotional emails have a 41% higher CTR. 

17:44
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Notes for this resource are currently being transferred and will be available soon.

Sago Mini (for 3 to 5 year olds) and Toca Boca (for 6 to 8 year olds) have released 75 apps for kids and total 320 million downloads.


Disclaimers

Subscription vs. Ads: two very different models when it comes to retention.


Ad revenue model

Revenue can come from a few power users.


Subscription model

Even the person that likes Netflix the most has a Max 12M LTV of $120.


[💎@05:08] Not every experiment needs to improve retention and you need to look across different metrics to see if it is a net positive for the business. Example: intro offers can increase CVR significantly so you need to assess if this outweighs the decrease in retention.


The importance of retention

Retention defines which app tier your app is in.


A 10% difference in retention changes your business.


Retention's impact on UA

[💎@07:32] If you improve your retention by 10% (e.g. 80% → 90%) you double what you can pay if you're buying over a 4 year LTV.



Retention strategies

Usually when people talk about retention they are talking about improving lower funnel features, etc. But there is a lot that can be done top of funnel.


#1 Set expectations

  • Leverage video, don't overpromise, don't hide pricing, invest in your app store listings (A/B testing icons, texts, videos, etc.). Deceptive ads can work but users churn quickly and diminishes trust in marketers.
  • Research can help:
  • Walk a user through your pre-install flow (ad, sequence of ads, etc.)
  • Stop them on the App Store/ Google Play Store
  • Ask them to describe the app experience they expect


#2 Improve the onboarding experience

  • Drop any steps that are not significant to the onboarding of the user
  • Understand the goal of your company. Examples: adding connections (LinkedIn), etc., getting 7 friends in 10 days (Facebook), create account (Sago Mini).
  • [💎@14:14] During onboarding, give the user the tools they need to get the most of your app and quickly.


#3 Segment your revenue attribution

  • At the minimum, segment by Geo / Channel / Platform so you can make decisions and tailor in-app experiences for certain cohorts
  • [💎@15:00] Understand granular KPIs so you can build ad campaigns and in-app experiences for specific segments. Example: ads on channel B (with shorter avg. retention) is a text ad, then show videos during app on-boarding to convey the same message as channel A users (with longer avg. retention) are receiving.


#4 Tailor experiences at scale

  • Focusing on user data so you can drive value and personalize across all the different touchpoints. Example: game where players play "trains" a lot → focus retargeting efforts on showing characters from the "trains" app
  • [💎@17:00] Personalization for push notifications increases open rates by 3x (Leanplum stats). Example: sports app where you have to select your favorite teams, etc.
  • [💎@17:44] Personalization for promotional emails have a 41% higher CTR.


→ Identify areas where you can increase personalization, A/B test and measure lift in retention.


Your marketing automation programs should give you motion sickness


Your marketing automation programs should be quite complex according to your segmentation/channels and you should invest a lot of time in them.


The notes from this resource are only available to premium members.
↘ At this point, you know what to do ↙
Upgrade Your Plan

Sago Mini (for 3 to 5 year olds) and Toca Boca (for 6 to 8 year olds) have released 75 apps for kids and total 320 million downloads.


Disclaimers

Subscription vs. Ads: two very different models when it comes to retention.


Ad revenue model

Revenue can come from a few power users.


Subscription model

Even the person that likes Netflix the most has a Max 12M LTV of $120.


[💎@05:08] Not every experiment needs to improve retention and you need to look across different metrics to see if it is a net positive for the business. Example: intro offers can increase CVR significantly so you need to assess if this outweighs the decrease in retention.


The importance of retention

Retention defines which app tier your app is in.


A 10% difference in retention changes your business.


Retention's impact on UA

[💎@07:32] If you improve your retention by 10% (e.g. 80% → 90%) you double what you can pay if you're buying over a 4 year LTV.



Retention strategies

Usually when people talk about retention they are talking about improving lower funnel features, etc. But there is a lot that can be done top of funnel.


#1 Set expectations

  • Leverage video, don't overpromise, don't hide pricing, invest in your app store listings (A/B testing icons, texts, videos, etc.). Deceptive ads can work but users churn quickly and diminishes trust in marketers.
  • Research can help:
  • Walk a user through your pre-install flow (ad, sequence of ads, etc.)
  • Stop them on the App Store/ Google Play Store
  • Ask them to describe the app experience they expect


#2 Improve the onboarding experience

  • Drop any steps that are not significant to the onboarding of the user
  • Understand the goal of your company. Examples: adding connections (LinkedIn), etc., getting 7 friends in 10 days (Facebook), create account (Sago Mini).
  • [💎@14:14] During onboarding, give the user the tools they need to get the most of your app and quickly.


#3 Segment your revenue attribution

  • At the minimum, segment by Geo / Channel / Platform so you can make decisions and tailor in-app experiences for certain cohorts
  • [💎@15:00] Understand granular KPIs so you can build ad campaigns and in-app experiences for specific segments. Example: ads on channel B (with shorter avg. retention) is a text ad, then show videos during app on-boarding to convey the same message as channel A users (with longer avg. retention) are receiving.


#4 Tailor experiences at scale

  • Focusing on user data so you can drive value and personalize across all the different touchpoints. Example: game where players play "trains" a lot → focus retargeting efforts on showing characters from the "trains" app
  • [💎@17:00] Personalization for push notifications increases open rates by 3x (Leanplum stats). Example: sports app where you have to select your favorite teams, etc.
  • [💎@17:44] Personalization for promotional emails have a 41% higher CTR.


→ Identify areas where you can increase personalization, A/B test and measure lift in retention.


Your marketing automation programs should give you motion sickness


Your marketing automation programs should be quite complex according to your segmentation/channels and you should invest a lot of time in them.


The notes from this resource are only available to premium members.

The detailed notes taken for a resource are an easy way to see the gems in context to get a better understanding. They also include any relevant visuals from the source.
↘ At this point, you know what to do ↙
Request Access

Sago Mini (for 3 to 5 year olds) and Toca Boca (for 6 to 8 year olds) have released 75 apps for kids and total 320 million downloads.


Disclaimers

Subscription vs. Ads: two very different models when it comes to retention.


Ad revenue model

Revenue can come from a few power users.


Subscription model

Even the person that likes Netflix the most has a Max 12M LTV of $120.


[💎@05:08] Not every experiment needs to improve retention and you need to look across different metrics to see if it is a net positive for the business. Example: intro offers can increase CVR significantly so you need to assess if this outweighs the decrease in retention.


The importance of retention

Retention defines which app tier your app is in.


A 10% difference in retention changes your business.


Retention's impact on UA

[💎@07:32] If you improve your retention by 10% (e.g. 80% → 90%) you double what you can pay if you're buying over a 4 year LTV.



Retention strategies

Usually when people talk about retention they are talking about improving lower funnel features, etc. But there is a lot that can be done top of funnel.


#1 Set expectations

  • Leverage video, don't overpromise, don't hide pricing, invest in your app store listings (A/B testing icons, texts, videos, etc.). Deceptive ads can work but users churn quickly and diminishes trust in marketers.
  • Research can help:
  • Walk a user through your pre-install flow (ad, sequence of ads, etc.)
  • Stop them on the App Store/ Google Play Store
  • Ask them to describe the app experience they expect


#2 Improve the onboarding experience

  • Drop any steps that are not significant to the onboarding of the user
  • Understand the goal of your company. Examples: adding connections (LinkedIn), etc., getting 7 friends in 10 days (Facebook), create account (Sago Mini).
  • [💎@14:14] During onboarding, give the user the tools they need to get the most of your app and quickly.


#3 Segment your revenue attribution

  • At the minimum, segment by Geo / Channel / Platform so you can make decisions and tailor in-app experiences for certain cohorts
  • [💎@15:00] Understand granular KPIs so you can build ad campaigns and in-app experiences for specific segments. Example: ads on channel B (with shorter avg. retention) is a text ad, then show videos during app on-boarding to convey the same message as channel A users (with longer avg. retention) are receiving.


#4 Tailor experiences at scale

  • Focusing on user data so you can drive value and personalize across all the different touchpoints. Example: game where players play "trains" a lot → focus retargeting efforts on showing characters from the "trains" app
  • [💎@17:00] Personalization for push notifications increases open rates by 3x (Leanplum stats). Example: sports app where you have to select your favorite teams, etc.
  • [💎@17:44] Personalization for promotional emails have a 41% higher CTR.


→ Identify areas where you can increase personalization, A/B test and measure lift in retention.


Your marketing automation programs should give you motion sickness


Your marketing automation programs should be quite complex according to your segmentation/channels and you should invest a lot of time in them.