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Udacity

Activation and Retention Strategy

via Udacity Nanodegree

Overview

Product Manager is a top 5 job on LinkedIn's Most Promising Jobs for 2019, and one of the most coveted roles in large tech enterprises, as well as entrepreneurial startups. While Product Management roles have been growing rapidly for a while, a recent analysis of Google Trends revealed an increase of 425% in average monthly interest about Growth Product Management over the last 5 years. Hone specialized Product Management skills in activation and retention strategy by learning how to guide users through the activation funnel as fast as possible, so they reach your product’s aha-moment. Build Growth Product Management experience in the course final project by acting as the Growth Product Manager for productboard and Slack to optimize the sign-up flow, determine the activation funnel, create a retention curve, and perform churn analysis.
Hone specialized Product Management skills in activation and retention strategy. Guide users through the activation funnel as fast as possible, so they reach your product’s aha-moment, and deploy experiments to improve customer lifetime value and decrease churn.

Syllabus

Prerequisite Knowledge

Some prior Product Management experience is recommended.See detailed requirements.

  • Optimizing the Signup Flow

    Measure click-through percentage and drop-off percentage through the sign-up flow and remove unnecessary friction from the sign-up process. Then, propose experiments to run using the action, outcome, theory framework and apply the ICE framework to prioritize experiments.

  • Defining the Activation Funnel

    Identify if the setup, aha, and habit moment and metric lead the user to long-term activation. Calculate the number and percentage of users activated through the funnel. Then, conduct different segment analysis to determine which type of audience performs well through the activation funnel.

  • Conducting a Retention Cohort Analysis

    Increase engagement via use-case, frequency, intensity, and feature adoption. Determine casual, core and power users and create a retention chart to view average retention per cohort over time.

  • Analyzing Impacts of Churn Rate Across the Business

    Map the different lifecycle state of users, resurrected, retained, dormant, and active users, and calculate their Lifetime Value (LTV) based on the Churn Rate of the user base. Then, propose experiments to improve activation and retention to control churn.

  • Final Project: Let It Grow

    In this project, you will act as the growth product manager for productboard and Slack. At productboard, you will optimize the sign-up flow to ensure conversion of as many users as possible and remove any frictions along the way. At Slack, you will determine the activation funnel, create a retention curve, and perform a churn analysis using the quantitative dataset provided. Lastly, you will suggest experiments to optimize the sign-up flow, activation funnel, retention curve, and churn rate.

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