Onboarding Completion Rate measures the percentage of new users finishing the onboarding process, indicating the effectiveness of initial user experience and product intuitiveness. For Product Managers, optimising this rate is crucial for user retention, engagement, and satisfaction, laying the foundation for long-term relationships and growth.
Methodology:
- Define the onboarding process,
- Identify new users,
- Track onboarding steps completion,
- Calculate Onboarding Completion Rate,
- Analyse and interpret the results,
- Continuous improvement and monitoring.
Benefits:
- Immediate engagement and reduced churn,
- Insights into user experience and product accessibility,
- Foundation for long-term customer relationships.
Limitations:
- Does not guarantee long-term engagement,
- Potential for over-optimisation,
- Difficult in identifying qualitative factors.