A cohort analysis enables you to observe how a specific group of customers evolves over time. In ChartMogul you can easily create and compare cohorts in the different charts to understand your customer's behaviour. In this article, we will segment customers by quarter to see trends in acquisition and retention.
Comparing customer cohorts by quarter
- Go to your subscribers chart.
- Create a segment for the third quarter of 2020 by using the filter Customer since - between - 2020-07-01 to 2020-09-30 and save the segment as Q3 2020.
- Do the same for every other quarter that you would like to add to you cohort analyses.
- Select Line and Stacked at the top left of the chart.
What we learned
In this example comparison, we can see that the user acquisition has been steadily increasing, but it slowed down beginning May 2021. Furthermore, we can see that customer retention between Q1 2021 and Q2 2021 has been high.
Other than looking at the number of customers, we can also check the MRR retention of a cohort to see if the customers that are cancelling are large accounts, mainly small accounts or a mix of both. This might help us narrow down the root causes of the acceleration in cancellations.
Further, we can compare the same cohorts by plan to see if customers are being acquired at a faster rate on one of them. Secondly, we can check if they are more likely to churn on a specific plan. This might help the sales and marketing team to double down their efforts on promoting the plan with the best performance.
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