Activation bar (quarterly cadence): ≥4 distinct days of customer activity in the trailing 12 months. Reserve studies aren't a daily-use product — boards meet quarterly, so the right "activated" test is real engagement at that cadence, not a one-time login.
Aha definition: the customer (not staff) exported a board-grade report — Funding Plan, Cash Flow, or Financial Health. Reserve Analysis Report is analyst-produced and excluded. Disclosure Report is California-specific compliance and lives in tile 5 (Compliance Activity).
Internal-user filter: 21 @smartproperty.com + 6 @barreraco.com distinct_ids. All "customer" numbers exclude staff activity.
Refresh: daily 7:00am ET via macOS launchd. Hosted on Cloudflare Pages. Source: Mixpanel production project.
The narrative chain: customers arrive → activate at a real cadence → hit a board-grade moment → keep coming back → board adoption deepens → we earn the compliance moat.
Three diagnostics that surface exactly where customers fall off — stuck mid-funnel, never onboarded after analyst delivery, or quietly decaying.
Three signals pointing to expansion conversations, cost-to-serve improvements, and the emergence of habit — the moments that bend retention into a moat.
| Account | Active properties | Total properties | Retention 60d | Score |
|---|
| Cohort | Customers (N) | Ever hit aha | % hit | p25 days | Median days | p75 days | % within 7d | % within 30d | % within 60d |
|---|