A single retention curve for all users rarely tells a useful story. New accounts behave differently from returning power users, and marketing-sourced cohorts often mask product-quality issues.
Start by defining an activation event that proves real value was received — not merely that an account was created. Then cut cohorts by acquisition channel, plan tier, and first-week behavior.
When a curve flattens early, inspect the first session length and the second-visit rate before redesigning the entire product. Retention problems are often activation problems wearing a longer timeline.