14 Questions
What is customer retention?
When users repeat a meaningful action over a defined time period
In the Spotify example provided, what action do users need to take to be counted as retained?
Listen for at least x seconds
How is weekly retention calculated?
By measuring the number of users who took a meaningful action in the week
What is critical to keep constant when calculating retention over multiple weeks?
The total number of users in the starting week
What kind of curve do you get when plotting retention data over time?
A downward-sloping curve
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
What is a typical behavior of a retention curve over an extended period?
Flat line above zero
Which behavior of a retention curve is NOT desirable?
Decreasing to zero
What percentage should a retention curve ideally flatline at?
50%
Which aspect is NOT included in the simplest definitions of Vision, Strategy, Roadmap, and Goals?
A simple way to measure progress
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.
What does it mean to focus on 'outcomes, not outputs' according to the text?
Emphasizing customer impact over mere deliverables
Which resource is NOT recommended for learning about product management in the text?
Any random blog
'Focus on outcomes, not outputs' advice might be incomplete because:
Some product managers don't understand what outcomes are.
Learn the simple process of calculating customer retention using a practical example like Spotify's free users. Understand the concept of retaining users over a specific time period to measure their engagement. Bookmark this post for a detailed explanation.
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