📊 In Smartrr’s Advanced Analytics, the Cohort Retention Over Time dashboard allows you to compare retention rates by subscription groups over time.
It’s important to note that the column, “Cohort Size,” is the count of subscriptions created in the first time interval (i.e., the interval starting at the "Cohort Date"). Additionally, the columns titled “Retention” are the percentage of the original cohort size retained at the end of the given interval.
📈Reading each row horizontally allows you to see what percentage of subscriptions in that specific cohort were still active at the end of the month.
For example, looking at August subscriptions (Cohort Size 1,000), 98% of the cohort was still active at the end of the month. At the end of September, 85% of subscriptions from this cohort were still active. In the third month, active subscriptions drop to 66%.
✳️ If you’re noticing a trend of customers unsubscribing after a certain number of months, consider providing subscribers with a special offer or discount prior to that month to incentivize retention.
📈In this case, once a subscription has been active for 2 months, the brand could then offer an additional discount on the customer’s next subscription order. Looking at the September cohort (Cohort Size 984), 96% of subscriptions were still active at the end of the month and 84% at the end of October. In an effort to increase retention compared to the previous cohort, the brand then sends this group an email with a special offer, such as an extra 10% off their next subscription order. This special offer helped improve retention rates for this cohort as 78% of subscriptions were active at the end of November, a solid improvement compared to the previous cohort.
For more information on Advanced Analytics, see our help doc here.