Engagement and churn

Engagement

It is very important to find metrics to measure the engagement. For instance, for a product to send e-mail marketing, some engagement and usage metrics are:

  • how many times per day the person access his/her inbox,
  • how many campaigns go off per month,
  • how many clicks this campaign had,
  • how many messages were sent with the incorrect e-mail address,
  • how many messages generated complaints.
  • APIs: Short for Application Programming Interface, API is a way of giving access to your product, to the data that is stored and to the routines it executes to other software. When someone creates a new software using the APIs of your product, thereís a great chance of increasing the engagement with it.
  • Incentivize usage: you can do promotions to incentivize the use of your product. For instance, if your product has usage quota, you can increase this quota as the time goes by.
  • Training: teaching your users to use your product in its full potential is a way of engaging them. The more they learn, the faster theyíll understand how it can help them. It is not necessary to provide formal training, in a classroom. You can provide some virtual training via webinars or even provide some tooltips, showing how the user can enjoy the product, step by step.
  • Historic data: the usage data of your product, such as logs and reports, might be a very useful tool to your users. Help them to take advantage of these data. For instance, you can send daily briefs (or weekly) via e-mail to them, inviting them to access your product to get further information.
  • Integration to other products: another way to increase the product usage is through integration to other products your client already uses. For example, a virtual shop can integrate with payment gateways, with electronic invoice and delivery systems via mail.

Churn

Another very important metric is the churn, that is, the number of users and clients who are no longer users or clients. It is important to know how many are they, and the reasons why that happened because you need this data to improve your software product, to reduce the churn.

  • Lining up the expectations that you created to your client through the promotion of your product to what he/she is going to find when using the product.
  • Guaranteeing that the first usage experiences of your product will be very good and those clients will achieve their goals in these first experiences.
  • Keeping your product useful to your clients over months and years, investing in understanding your clients and their problems, and in updating your product so it continues to solve your clients' problems.

Data science, machine learning, and product management

In recent years the terms data science, machine learning and artificial have appeared recurrently and abundantly. These terms are very important for product managers. No wonder I dedicate 5 chapters of my product management book to data and metrics.

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Joca Torres

Joca Torres

Digital product development advisor, coach, and board member. Also an open water swimmer and ukulelist.