How can communications and advertising practitioners become better managers of attention in an economy that commodifies it? How can marketers maximise business impact and compel into action the distracted audience, and strategize circularity to nurture customer to become lifelong partners?
As an analyst or digital professional, you have a mandate to elevate the standards of communications, data utilisation, and increasing the customer lifetime value for the savvy and increasingly discerning, well-informed consumers. Understanding cohort analysis in three steps will empower your team of digital marketers and other stakeholders to achieve sustainable advertising costs while maximising business impact.
3-Step Cohort Analysis
1. Select the Right Duration
For example, you want to check your website users return frequency in the last six months. You can choose the date range OR select a Preset date
2. Pick the Right Dimension
Choose Return Frequency
3. Identify the Right Activation
Drag the dimension to the Last Touch Channel that you want to investigate eg Email, Display, Paid Social etc.
After following these steps, below is a sample outcome:
It shows that 35% of return visits from Email happened within 24 hours, average of 12% returns from 1 day-1 month. There’s an uptick on >1 month, which may be due to remarketing Email.
What is the implication?
If users missed the email within 24 hours, it would likely fall in the cracks called Spam or Trash. It may look different in your own organization or business. Cohort Analysis is only the first step to find out when the best day and time is to reengage your audiences either through a remarketing email, a scheduled paid social campaign, etc.
If you miss the recent webinar on Adobe Analytics Champions Tips and Tricks, it’s not yet too late to watch the full sharing session on Cohort Analysis and other tricks from the recording or download the slides so your audiences will never get over you. Together, we can adapt a more sophisticated approach to navigate this evolving digital environment.
Here’s A Song Playlist to Remind You How to Avoid Fallin’ In the Cracks of the Competitive Digital Landscape: