Cohorts

Cohort Analysis enables enterprises to analyze their marketing performance and optimize their strategies for better audience engagement. Cohorts in Lemnisk CDP segregate user data with similar interests and provide deeper insights into user behavior for marketers to track performance metrics over time, and optimize marketing strategies for improved customer retention and engagement.

For example, a cohort analysis might reveal that users who signed up during a particular promotional campaign have higher engagement rates. With this information, marketers can replicate successful strategies and improve their campaign performance.

How do cohorts differ from segments?

Let's know the difference between segments and cohorts with the following examples

Segments:

• Users who are from any particular geographical location. Eg: Japan

• Users who are above the age of 25

• Users who are professionals from any specific industry.

Cohorts:

• Users from Japan who purchased an Insurance policy in 2021

• Users above the age of 25 who purchased chocolates on February 14, 2021.

• Users from the IT industry who purchased EV vehicles in 2023.

Let's plot a cohort with the following use case

Usecase

Let's assume you want to plot the cohorts based on users who clicked on any of your products and track the time taken on the journey until they make payment.

Steps to perform a cohort analysis

Step 1: Go to -> Reports -> Cohorts

Step 2: Select -> Create a new cohort

Step 3: Proceed with the following actions in respective fields.

• First Event: Choose the First Event from which the user actions should be tracked, We choose UserClicked event to demonstrate the above use case.

• Last Event: We Choose the Last Event as the payment event onto which the user actions should be tracked.

• Include/Exclude events: You can include and exclude URLs from the cohort data by selecting one from the list by clicking this icon
• Split by: You can split the data based on Device, Country, City, Browser, and OS. The default value is None.

• Duration: Select the dates on which you want to fetch the cohort data from the calendar.

• Grouped by: You can group the data by months, weeks, and days. You can customize your grouping to retain the data in multiple days, weeks, and months as follows.

Gif: Custom group

Step 4: Click Plot Cohort. The data will be plotted as filtered, you can select the data format to percentage or numbers as required.

Step 5: Click Save Cohort which you can use later to optimize your campaigns.

Gif: Create a new Cohort