In the marketing arena, A cohort shows a group of individuals who have performed a specific event in a particular time span. Cohorts are time-specific in contrast to the segment.
Cohorts vs Segments
You can create a segment based on the demographic, geographical, and psychographic factors of the users. Cohorts are also created based on these factors, but the difference lies in stating the time frame for the event.
The difference between a segment and a cohort is quite clear and relevant. Segments are not time-specific whereas cohorts include the time-frame which makes the analysis of your campaigns better and more effective.
Note: A larger number of cohorts can exist within a segment.You can also create cohorts for special events. Marketers can greatly benefit from the data of cohorts. They let them simplify the history of the users for future reference.
How does the NotifyVisitors cohort work?
NotifyVisitors cohort lets you measure or analyze the users’ behavior over a specific period.
Note: Cohort analysis is a metric of user engagement over time. It is helpful to know whether user engagement improves over time or only appears to improve as a result of growth.
For example, you can view the repetitive patterns in the users’ behavior over a period of a specific event. You can view how your campaigns are working and evaluate any sort of growth happening within the time frame.
Also, you may know which campaign is performing the best if you are running campaigns on different platforms. Instead of confusing sales figures, you can view cohorts' data results in percentages. Now, let us divert to the NotifyVisitors dashboard and see how to measure the users’ behavior on campaigns with COHORTS.
How to define the variables of the cohort filter?
Date filter: Define the time span you want to view the users’ behavior of different cohorts.
First event: Select the first event performed by the users on your website from the drop-down menu.
Return event: Select the event which defines the return of the users. Choose it from the drop-down menu.
How do you read a cohort table?
Reading a cohort could be a bit topsy-turvy but you can make it easier with a few tips.
Rows: The row in the table depicts the cohort.
1. The rows in the table give you the details of the cohort of users who are grouped together based on the time at which they performed the event. Simultaneously you can view the total number of users for each cohort under the Event heading.
2. The percentage values you are watching under the WEEK section show the customer retention rates of each cohort.
Note: You can view the analytics for a cohort on a daily, weekly, or monthly basis.
What is the concept of day zero (Week zero or month zero) in the cohort table?
The concept of day zero could be a little confusing for marketers who are using cohorts for the very first time. It usually represents all the events performed by the users on the same day corresponding to the same date as listed in the same row. The same rule applies for the month and week. (i.e., events performed by the users for the same week and same month).
Points to remember
1. If you want to view the cohort analytics daily. You can view the events and retention rates for each day and date respectively.
Note: You can view the cohort analytics in aggregate on the very first ALL section
2. The same rule applies on a weekly basis.
What does the color indicate about the cohort analytics?
1. The darkest color in the rows or cells depicts the highest percentage value.
2. The light shade depicts the average percentage values.
3. The palest ones show the lowest ones.
With the detailed description of cohorts and how they work, you must have got an idea about the cohort filters and other intricate features.