For any business, but particularly SaaS businesses, it is vital to your company's survival to prioritize engagement, and user engagement metrics can set you on a path to success. Engaging with your users in the right way will not only invite new users, but it will keep your existing users satisfied and returning to your platform time and time again. In order to stay in tune with your engagement strategy, it is important to measure your user engagement with metrics that will give you a clearer picture of where your business is currently, and where you can make improvements. Here are the engagement metrics that you should be paying closest attention to.
We have previously discussed various ways in which you can engage with your users, and how you can improve your engagement strategy. Below we outline the user engagement metrics that as a SaaS company you should be prioritizing, and how they can influence your engagement strategy.
Great, your platform is being flooded with visitings users, but how long are they staying on the platform or staying logged in? Session time is the amount of time that a user spends on your platform during a single session. If your data is suggesting that users are only on the platform for a short amount of time, this is a strong indicator that your platform is not giving the user the value that they were hoping for. Perhaps you need to make some changes to your platform.
Return frequency will tell you the length of time between visits from returning users. When a user returns to your platform, you can track how long ago the previous visit was from that user. This is valuable in regards to user engagement as it can help you see the platform's appeal and relevance to those that are interacting with it. Assessing the return frequency is also a great way to plan for future content and promotions, and cater to those returning to the platform.
Looking at user actions can drive many of your decisions when it comes to making changes or upgrades to your SaaS platform. User actions are a great way to understand the value that your users are getting from your platform, and how they are interacting with it. For example, if you were to add a new feature to that platform, you can assess the user actions to see if it was a welcomed change, or see where there are roadblocks that cause the user to abandon the action, ultimately helping you and your team make more accurate improvements in less time.
Daily & Monthly Active Users:
Daily active users (DAU) measures the total number of users that log in/ engage with your product daily, whereas monthly active users count the users that have logged on/ engaged with your product in the last month. By comparing daily and monthly active users, you can determine how well your product is resonating with your customers. Are they only sticking around for the first couple of days and then falling off? Or are they coming back on a regular basis? Regardless of the outcome, it is important to assess the data to help make improvements to your user engagement strategy.
Assessing user data and metrics can be overwhelming, but if you take the time to understand what each metric can offer you and how it can work to make improvements to your user engagement strategy it can help you make the right decisions that move your business forward.
If you are looking for more insight into user engagement metrics, connect with us.