A user retention dashboard is a premium feature that functions as a visual tool for tracking key customer-centric metrics like retention rate, churn rate, MRR growth, and the number of loyal customers. In this approach, a company can gain extensive information about its health and potential for expansion.
A significant indicator for measuring the growth of digital products is user retention analysis, often known as "cohort analysis." Cohort analysis enables you to ask more specific, focused questions and make more educated product decisions, resulting in lower churn and higher revenue.
Cohort analysis is critical for Dapps, particularly Defi protocols, which generate a large number of transactions per day. It's critical to maintain track of returning customers and learn what keeps them pleased.
Step 1 : Click on "Solutions" on the top of the screen and choose "Network Analytics."
Step 2 : Then click on the dashboard you want to see. In this example we will choose the Aave V2 User Retention Dashboard.
Dapplooker aids in user retention analytics by providing visualization tools that give insights about the following :
As seen on the dashboard for "Cohort Analysis on Deposit Amount":
The darker shades of green denote a great rise in Deposit Amount as compared to the previous month by the given set of new users.
Darker shades of blue also denote a greater rise in deposit amount as compared to previous month by another cohort of new users.
Lighter shades denote a fall in amount deposited.
Funnel Analysis allows to get insights about customer retention. As seen above one can judge that the proportion of users that had repeat transactions went from 68.7% to 2.53% as the number of repeat transactions increased from 4 plus to 64 plus. This is a great visual tool to track customer usage.