Tag: product analytics
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15 Important Conversion Metrics for Digital Marketers to Track in 2024
Do you know the top 10% of websites have a conversion rate of 11% and above? While converting at 2-3 % is fair for businesses in the early stages, you can always aim for higher conversion rates. But whether your website falls under the fair-performing websites or is a top player depends on your conversion…
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12 Tips to Reduce Your Customer Churn Rate
Imagine a customer buys your product, things seem smooth, and then—bam!—a month later, they cancel their subscription out of the blue. That abrupt exit? That’s customer churn—the rate at which customers stop using a company’s product or service over a specific period. But here’s the kicker: churn rates aren’t set in stone. They swing based…
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Cohort Analysis: How to Measure User Retention?
Ever downloaded an app, loved it at first, but then kinda forgot about it? It happens. But what if you could figure out why and keep people hooked? It would be great, right? That’s exactly what cohort analysis does. Imagine throwing a party. You wouldn’t just invite everyone randomly. You’d think about different friend groups…
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Engagement Rate: Importance and Key Metrics
How much do people love your website or product? Want any clue? That’s where engagement rates step in – they’re like your online applause meter, showing how much your audience is into what you’re offering. Why is this a big deal? Well, it’s the secret sauce to make your website and product a big hit.…
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Power Users: The Ultimate Catalyst for a Product's Success
“You need power users to power up your product.” The power users are highly engaged users with advanced knowledge of your product. They have reached the “Aha!” moment and made it a “habit”. They are undoubtedly the most valuable users of your product. But is chasing power users worth it? And to what extent? Before…
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Power Users: The Ultimate Catalyst for a Product’s Success
“You need power users to power up your product.” The power users are highly engaged users with advanced knowledge of your product. They have reached the “Aha!” moment and made it a “habit”. They are undoubtedly the most valuable users of your product. But is chasing power users worth it? And to what extent? Before…
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Boosting Product Engagement: Strategies for Success in 2024
Converting potential users is half the story, but keeping them engaged with your product is the other half that makes a product successful. According to statistics, 21% of products fail to meet customer’s needs. It implies that the users come to try a product and find it does not meet their expectations, resulting in lower…
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9 Key Marketing Insights for Product Managers
Do you know that 95% of new consumer product launches fail? So, what can you do to ensure your product is not one of them? While the success and growth of a product involve many factors, one of them is having a well-rounded product manager. Product managers are there for a product as it goes…
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The Value of Scroll Depth and How to Track It
Understanding the specific sections of a web page can be a valuable asset for digital marketers, UX designers, product teams, and e-commerce managers. It identifies the sections that capture the attention of your website visitors or make them leave your website. By monitoring scroll depth, you can harness this capability, offering actionable insights to enhance…
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Customer Loyalty Analytics: A Complete Guide
Customer loyalty is a crucial part of any successful business. Not only does it drive revenue and growth, but it also helps establish a positive reputation and brand identity. But how do you measure and improve customer loyalty? That’s where customer loyalty analytics come into play. Using data and analytics, businesses can track customer behavior…