Customer Engagement Analytics

Most people know or are at least aware of the customer journey stages:

Awareness > Consideration > Purchase > Retention > Advocacy

Most, are even familiar with the standard best practices and appropriate outbound and inbound components needed to work individuals from:

Strangers > Visitors > Leads > Customers > Promoters

However, very few implement any engagement or activity tracking, known as, customer engagement analytics.

Customer engagement analytics provide a full scope from how potential customers are interacting with your product and what existing customers are doing within the product.

Why is this so Important for your SaaS Product?

Let’s back it up for a minute. As a company with a SaaS business model, you don’t have the opportunity to interact, engage, or even communicate with your leads and customers the same way most businesses do. This is why it's crucial to know exactly what’s going on with potential and even existing customers. With customer engagement analytics you can have a deeper look inside your business and should take advantage of the insights. 

With strangers, visitors, and leads, at the beginning of their journey, you can make sure they are:

1. Not only finding you, but you know how they found you and exactly which channel they came from. 
2. Not only having a good first experience, but you also know at which moment (action) the majority are having their “aha moment” and converting into paying customers.

As for existing customers, these insights can help you:

1. Understand the exact actions / steps your highest value customers are taking.
2. Dig even deeper into who the highest value customers are so you can target more just like them. 

Customer engagement analytics allows you to have a pulse on your business, make data-backed decisions, and scale the channels, actions, steps, and processes that are performing the best.

Customer Engagement Analytics can also help with Growth Challenges

Of course, just like any other business it's not always rainbows and butterflies. Every single business at one point or another will come across challenges and roadblocks. In SaaS, it will be within one of the primary growth pillars: Acquisition, Activation, Retention, Revenue, Referral, also known as, 'pirate metrics' -- AARRR.

However, having customer engagement analytics in place can help. Detecting a problem and pinpointing where the “leak” is so to speak before your pipe bursts can save you a lot of time, money, and energy.  Some of this ties into what we’ve already covered but it’s important to reiterate and can help you run your business proactively and not reactively.

Acquisition: Are customers finding you? Do you have a steady flow of visitors and leads?

• Zone in on the channels that are performing well and driving the highest customer engagement.

Activation: Do customers have a good first experience? Are they finding value and converting?

• Discover the actions that prevent customers from onboarding.

Retention: Do customers continue to come back? Are they renewing and / or upgrading?

• Identify the user actions and behavior that separate the loyal customers from the ones that churn.

• Uncover and pinpoint the fastest path to profit. 

• Identify who your loyal customers are and incentivize them. 

Having customer engagement analytics in place is like having a cheat sheet. It provides deep insights and understanding of your most valued customer’s journey. It allows you to fix the roadblocks and challenges and areas that could be holding you back, keeping your customers from converting or even churning.

Customer engagement analytics also allows you to scale what is working, performing well, and most importantly making you money. Don’t let another day go by without having these insights set up for your business. If you do, you’re undoubtedly missing opportunities and letting profit and viable customers slip away.