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Customer Retention Calculation Process

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Questions and Answers

What is customer retention?

When users repeat a meaningful action over a defined time period (correct)

When users leave a product after trying it for a defined period

When users show interest in a product but never try it

When users visit a website only once

In the Spotify example provided, what action do users need to take to be counted as retained?

Create a playlist

Share a song on social media

Listen for at least x seconds (correct)

How is weekly retention calculated?

By measuring the number of users who received an email from the company

By measuring the number of users who visited the website once

By measuring the number of users who registered in the week

By measuring the number of users who took a meaningful action in the week (correct)

What is critical to keep constant when calculating retention over multiple weeks?

The total number of users in the starting week Signup and view all the answers

What kind of curve do you get when plotting retention data over time?

A downward-sloping curve Signup and view all the answers

What does Week 1 retention of 80% indicate in the context of the Spotify example?

80% of users came back to listen again in Week 1 Signup and view all the answers

What is a typical behavior of a retention curve over an extended period?

Flat line above zero Signup and view all the answers

Which behavior of a retention curve is NOT desirable?

Decreasing to zero Signup and view all the answers

What percentage should a retention curve ideally flatline at?

50% Signup and view all the answers

Which aspect is NOT included in the simplest definitions of Vision, Strategy, Roadmap, and Goals?

A simple way to measure progress Signup and view all the answers

What is the difference between 'outputs' and 'outcomes' as explained in the text?

'Outputs' are products created while 'outcomes' are the impact or value on customers and business. Signup and view all the answers

What does it mean to focus on 'outcomes, not outputs' according to the text?

Emphasizing customer impact over mere deliverables Signup and view all the answers

Which resource is NOT recommended for learning about product management in the text?

Any random blog Signup and view all the answers

'Focus on outcomes, not outputs' advice might be incomplete because:

Some product managers don't understand what outcomes are. Signup and view all the answers