Product engagement: the most important metric you aren’t tracking for your SaaS business

Derek Skaletsky, writing for the Intercom blog:

If you have followed us over at Sherlock, you will likely have heard us say many times that product engagement is the lifeblood of any SaaS business. This is because the entire SaaS business model is dependent on people using (and getting value from) your product consistently over time. The entire model is dependent on product engagement.

In short, creating a method for scoring engagement is essential for every SaaS business. Without a proper way to score the engagement of your users and accounts, it’s pretty much impossible to know what the hell is going on with your business.

As a Founder/CEO, how many times have you asked, “How are our accounts doing?” or “How’s engagement this month?” only to be faced with blank stares from your team.

As VP of Product, how many times have you wondered if your recent releases were helping to drive overall engagement, only to realize that you don’t have a good way of determining that?

As a Customer Success Manager, how many times have you wanted an easy way to prioritize your day’s work – an easy way to determine which accounts are thriving and which are struggling – only to give up and waste the day sending a bunch of random “just checking in” emails?

As an AE, how many times have you wished you could easily see which trial accounts are ready for a call and which ones you shouldn’t bother with, only to give up and refresh your Facebook feed a few more times?

Thankfully, all of these issues can be solved with a good product engagement scoring system. By scoring engagement, you can create essential visibility for every part of the organization that relies on it.

Read on to learn the step-by-step process of creating a solid engagement score for your product.

Go read the rest of Derek’s post for some excellent tips of product engagement.

Source: https://www.intercom.com/blog/product-engagement/

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