Filter your users based on sign up date, payment plan, activity, etc.
Get instant data from specific user segment
Refine your Product-Market-Fit
What is it?
This template lets you create user segments based on parameters like sign-up date, monthly spend, number of accounts, and monthly activities. But what is a user segment? Simply put, it’s a group of users who share the same characteristics. For example, a segment may contain users from the same region, while another contains users who spend over $500 a month.
After creating your segments, this template shows you the Key Performance Indicators (KPIs) for each one of them. KPIs are measurable values, like the number of users or the average time a user spends on your platform per day. They have the purpose to show you whether you’re achieving your objectives or not. Ultimately, they let you know if your business is successful or not.
What problem does it solve?
If you don’t create user segments, when you look at your KPIs, you’ll look at average values. In all honesty, averages suck because they’re so misleading and can lead you to make the wrong decisions.
Let’s say you want to see how much time your users spend on your platform. You’ll see the average time, which is calculated based on the time all users spend on the platform. This includes users who spend over $500 on your platform (and probably use it a lot) and users who spend $0 (and have probably abandoned the platform).
Wouldn’t it be better to segment users and exclude the ones who spend below a certain amount? This way, you’ll be sure to exclude inactive users and the ones who only use your platform occasionally.
How can it benefit your business?
If you have accurate KPIs, not average values, you can do a quick health check of your business. You’ll see exactly what areas need improvement, so you can take action to achieve more success.
Let’s say you noticed a sudden drop in your conversion rate. A conversion is when a user performs the action you want them to do on your website. It can be a purchase, a free trial request, a contact request, and so on. Let’s assume that, for you, this action is signing up.
You analyze the report and see that, after a specific date, the number of users who sign up suddenly drops. Then you remember that, on that date, there was a major website redesign. Something must have gone wrong during the redesign. Then you check and find out that the signup form is broken.
You call your IT team, tell them to fix the signup form, and in a breeze you can resume getting valuable conversions. Without the info you had in the report, you would have blamed the wrong reasons for the sudden conversion drop, making it much more difficult to find a solution.