Dan Hockenmaier: evaluation

Transcript context

…Awesome. Your point about retention being one of the biggest levers reminds me at Airbnb there's like a data dive once where a data scientist found that same conclusion. "Man, if we move retention by 1%, we're going to hit all our goals." And we tried and it was just very hard. And I'm curious, how often do you find that you can actually meaningfully move retention or is there anything that you've found to be effective in increasing retention for many of the companies that you've worked at? Retention is a tough measure to work on because it is the culmination of the entire product experience. Whether people come back or not has to do with everything that they experienced along the way. And so I think that the primary advice is actually if you were trying to remove a retention style metric, rarely should you go right to the source and send them more email or push notification or something like that. It's really actually about understanding what is the customer experience and what matters to them. And in a marketplace context, it's often depth of supply or the interaction they have with supply. So you actually should be working more on core product levers than you are on, call it, growth product levers to move retention. So it's a deep understanding of that customer journey and where you actually have the opportunity to improve it. If you can share any idea or any example comes to mind, what's one of the biggest successes you've seen in increasing retention?…

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