How to measure and increase product engagement rate

Product managers can better identify what might be lacking from the product experience by using product engagement, which tracks user interaction with an application at the most detailed level. Nevertheless, the issue goes beyond simple measurement. Product engagement involves monitoring usage to make continual product adjustments that will enhance the customer experience and, in turn, promote client retention and growth.
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Measuring Product Engagement

To measure product engagement, follow the five actions listed below:

Step 01: Determine What Engagement Means For Your Brand

Determining ” engagement ” is the first step in assessing product engagement. Depending on the interpretation of each person, engagement could signify different things. Owners of businesses might consider new client acquisition, client churn, revenue operations executives might consider annual retention rates, and UX leaders might consider usability metrics. These elements are connected.

Step 02: Establish and Keep Track of Milestones

Actionable insights are built upon data; hence automated monitoring based on several user journey trigger points is essential. The majority of product-first firms already keep an eye on certain milestones. What’s problematic is how it’s done. Setting up and tracking milestones is simpler with a capable product management solution like Statwide.

Step 03: Align Milestone Measurements to the Relative Priority

Once the tracking has been established, the milestones must be fairly weighted. Every action taken while using the product has a different value and effect. The basis for user experience (UX) differs from the user experience for churn. Poor UX may annoy things, but the product’s benefits may exceed the inconveniences. Similar to the last example, there may be a specific situation where poor UX results in client attrition even when the tool’s functionality is perfect. Assigning values to each milestone is so crucial.

Step 04: Compute Scores

Engagement scores are useful when the entire organisation and all the stakeholders who use the data and insights agree with them. Generalising and thoroughly publishing the definition and setup of metrics is necessary.

Step 05: Transform Scores into Useful Insights

The difficult part is completed once the scores are computed. It is imperative to use the results in a meaningful way. You can start identifying user behavioural trends and segmenting users as one of the main consequences of the scoring process. Users may also be assessed as cohorts based on various internal variables.

Increasing Product Engagement

Following are the ways through which you can increase product engagement:

Have a User-Friendly Interface

Consumers today are technologically adept but also value simplicity and a user-friendly ecosystem. A user interface with excellent UI/UX design attracts and keeps more repeat consumers.

Make the Sign-up Procedure Simple

Although signing up is a one-time activity, users still remember it. People may decide not to use the product if the process is difficult. Make the sign-up procedure as simple as you can. For instance, GBWhatsApp has an easy sign-up procedure.

Provide a Customized Onboarding Procedure to New Users

Customer retention is aided by hyper-personalization and personalisation. Make sure there is something tailored to their preferences while people are onboarding to your product. Your users will feel valued and special as a result of this. Customers who experience personalisation and feel valued will likely stick with your company or brand.

Promote New Features

Promote new features regularly, like new and inspiring features in WhatsApp Plus. Be sure to send the users customised notifications whenever you provide updates and new features. By doing this, you may promote your new features most creatively while also giving people the impression that they are vital.