In the spirit of self-education, we're sharing the numbers we track at Swivel. In this second post on the topic, let's take a look at users. The first post is available here.
To understand user behavior, the best practices include watching three key metrics:
- Recency - how long ago was the last time that the user interacted with your site?
- Frequency - how many times has the user come back to your site?
- Monetary value - how much money has the user spent on you?
Recency is the most informative of the three metrics: people who have interacted with your site recently are the most likely to interact again.
We aggregate user recency and sign-up data to track some important metrics, including:
- 7-day growth - the number of users gained in the last seven days, divided by the total number of users. As a start-up, we're focused on building growth, so we watch this carefully.
- 30-day retention - the percentage of users who have come back to the site in the last 30 days. It's easier to retain an existing customer than acquire a new one, so a healthy business has high retention.
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