Auddia's faidr App Achieves 12% User Retention, Exceeding Company Target
TL;DR
Auddia's 30-day retention has grown to 12%, 2% above target, providing a competitive advantage in user engagement.
Auddia optimized its faidr app to achieve 12% 30-day user retention through product enhancements and ad-free experiences.
Auddia's achievement of 12% 30-day retention demonstrates the value it delivers to users, improving their audio content experience.
Auddia's focus on optimizing subscription conversions and achieving 12% user retention is a positive sign of market traction and growth potential.
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Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW), a proprietary AI platform for audio identification and classification, has exceeded its 30-day user retention goal of 10%, achieving 12% in September 2024. This represents significant growth from 5% retention one year ago, marking a 140% improvement that positions the company to focus on downstream revenue generation metrics.
According to CEO Michael Lawless, this achievement results from continued optimization of product offerings and overall stickiness within the faidr mobile app. The retention success demonstrates the value delivered to users and allows the company to focus on subscription conversion as the next key objective. Auddia has implemented new initiatives with multiple third-party supporters aiming to achieve 12% subscription conversion in the coming months.
The company's year-long focus on growing user retention involved steady product enhancements including new ad-free podcast listening experiences and numerous UX improvements under its faidr 3.1 initiative. These efforts produced steady gains in 30-day retention, growing from 5% to 12% over the past year. With internal retention targets achieved, the company will now prioritize optimizing subscription conversions to drive high-margin revenue.
Auddia has maintained a 5% subscription conversion rate throughout 2024 but deferred optimization efforts until achieving at least 10% 30-day retention. The company plans to improve conversion rates by removing friction from the current paywall process, transforming subscription from passive to active operations for users, and conducting tests to optimize the timing, placement, and frequency of paywall views to drive conversion to 12% or higher.
With cost per install at or below $1.80, 30-day retention at or above 10%, and subscription conversions targeting 12%, the company approaches a transition point from product development focus to revenue generation focus. CMO Theo Romeo noted that these efforts demonstrate measured interest in the product and progress toward attracting hundreds of millions of US and international consumers who use competing audio platforms.
Curated from NewMediaWire
