Symptom
The distortion lives in campaign measurement — win-back programs measure success by reactivation rate (the return event) while post-reactivation day-30 retention is almost never tracked as a campaign conversion metric.
Cause
Reactivated users return to the same product that failed to retain them — without novelty or patience for friction they encounter unresolved churn causes immediately and depart again at rates fifteen to twenty-five percentage points above originally acquired users.
Impact
Win-back spend per durably retained user is eighty-five percent above nominal cost at forty-six percent re-churn — and each subsequent cycle produces shorter retention windows as the reactivatable pool degrades.