If your products consistently make people better at their job in a way that’s valuable to the customer organization, you’ll have those customers for life.
In a world of SaaS and recurring revenue models, customer retention is the single biggest testament to the value of your products and services. Unfortunately, there aren’t a whole lot of telltale signs that customers are likely to renew or defect until it actually happens. A strong pulse on your user engagement offers the clearest insights.
A clear window into your user engagement levels offers the best insights for growing wallet share with the happy customers and taking corrective action to turn the unhappy customers into happy and loyal customers.
Here are five key opportunities to drive growth and improve retention with a more comprehensive understanding of your user engagement.
- Growing Wallet Share – If customers are getting measurable value from the solutions they have, it stands to reason that they’re open to buying solutions they don’t have. Add-on products are usually all profit!
- More Success Stories – Are your products making people better at their job? High user engagement usually equates to improved performance metrics. Find out what they are and the impact on something that’s valuable to the customer’s business. Market your successes.
- Improving Usability – There will always be opportunities to improve product usability. User engagement metrics tell you which usability opportunities are must-haves versus nice-to-haves.
- Proactive Education – In many cases, your customers just don’t know the best way to use your products, creating a perception that they’re difficult or cumbersome. If you know exactly where the opportunities are, you can proactively educate users to improve engagement and increase your odds of longer-term retention.
- Adoption of New Features – You fought long and hard to get new features funded. Now you can see if your crystal ball was accurate. High adoption rates improve your stock exponentially.
User engagement is a good barometer of how well your products are hitting the mark. It offers clear proof of the good, the bad and the ugly and the actionable course corrections necessary to retain your customers.
If you want to make sure your product priorities are consistently aimed at job activities with high value to the customer organization, schedule one of our advanced product management training courses to learn a top-down approach to identifying and meeting customer needs with strategic value.
If you want to measure the engagement of your users in quantifiable terms, check out Pendo to see how you can reinvent your product experience and keep users more engaged.