In the last 12 months, we’ve seen large enterprises continue to invest in powerful product analytics to innovate faster and grow long-term revenue. We’ve 3x’d our enterprise customer base in the U.S. and in Europe, adding new customers including Microsoft, Capital One, Hubspot, Dailymotion, and Booking.com
To help us meet this growing demand, I’m excited to introduce two new hires to our team and funny enough, they share the same name. Erik de Muinck Keizer, a former Google executive, is now the General Manager of our EMEA team, leading our first international office in Amsterdam. Erik Watson, former Fastly executive, is our new VP of Enterprise Sales in North America.
We have a lot of exciting news to share today – our Series C raise, the progress we’ve made as a company over the last 12 months, and the incredible team we have built in San Francisco and Amsterdam which made all of this possible. But first, I want to share with you the vision that has guided our journey.
The beginning of an industry
Over the past few months, we’ve posted several excerpts on the blog from a big project we’ve been working on: a comprehensive playbook for using analytics data to improve user retention. Putting together the playbook has a been a huge undertaking from many people at Amplitude. I don’t think we knew what we were signing up for when we started. After thousands of hours of work, hundreds of analyses, and working with dozens of our customers, we’re excited to finally share it with you.
Today we’re releasing the Product Analytics Playbook, Volume 1: Mastering Retention. Volume 1 is a comprehensive approach to retention across all stages of the user lifecycle. It covers how to build retention into your product. It also covers how to leverage user behavior data to identify opportunities to improve your product. Understanding and improving retention is core to long term product success and the cornerstone of using product analytics to build better products.
Last week, we announced Amplitude 2.0 — the next generation of our product analytics platform. Today, I’m sharing the story behind 2.0: the industry shift in how companies are building products, how our users shaped the way we rebuilt Amplitude, and our vision for the future of products.
Back in March of 1995, Microsoft released a product called Microsoft Bob. Designed with computer novices in mind, Bob was supposed to make it easier for the average person to use a PC. The interface was styled as a virtual home where you navigated between rooms to access different programs, all with the aid of an animated dog as your guide (whose later reincarnation showed up in Microsoft Office as our old friend, Clippy).
If you’re in the mobile app business, you’ve probably heard this statistic — that 80% of mobile app users churn after just 3 days, and that the average app loses all of their new users within a month.
Today, we’re announcing that these retention findings may, in fact, be inaccurate for the vast majority of apps in the industry. Amplitude has now tracked over 1 trillion user actions across 500 million devices. After analyzing our customer data, we’ve discovered the standard industry method of calculating retention grossly underestimates retention numbers, suggesting that the future of apps isn’t as grim as it was made out to be. Now, we want to share these insights with you.