Startup Funding Espresso – Product Engagement Metrics

Product Engagement Metrics

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Product engagement is a key metric to track as it can predict revenue growth and churn rates. 

To track product engagement metrics consider the following:

Build tracking metrics into the product that captures user activities.

Capture key metrics such as number of active daily/weekly/monthly users.

Capture trial to paying customer conversion rates.

Measure new feature adoption to see which features are actually being used and how often.

Capture the retention rate of users to see how long they stay with the product before leaving. 

Identify which features provide stickiness for retaining customers.

Feed the metrics back to the developers and the support team to improve the quality of the product.

Update your marketing with the results of the product engagement metrics.

Consider providing additional training and tools for features that are hard to use.

Track product engagement metrics by customer segment to see the different use cases. 

Product engagement metrics indicate the quality of the product by its user engagement.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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