{"id":9284,"date":"2022-02-03T09:02:51","date_gmt":"2022-02-03T09:02:51","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/03\/5-essential-customer-engagement-metrics-and-kpis\/"},"modified":"2022-02-03T09:02:51","modified_gmt":"2022-02-03T09:02:51","slug":"5-essential-customer-engagement-metrics-and-kpis","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/03\/5-essential-customer-engagement-metrics-and-kpis\/","title":{"rendered":"5 essential customer engagement metrics and KPIs"},"content":{"rendered":"

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It\u2019s important to monitor the level of engagement customers have with your product, service, or brand. When you make a sale, you need to know if people are engaging with your solution or product and having a positive experience.\u00a0<\/span><\/p>\n

Engagement is a predictor of whether or not that customer will stay with you, and possibly even refer you, so it can be a leading metric for future revenue and growth.<\/span><\/p>\n

So here\u2019s how to use your CRM to track customer engagement and the appropriate Key Performance Indicators (KPIs) for your business size.<\/span><\/p>\n

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What is customer engagement?<\/span><\/h2>\n

Though a sale or a subscription is a landmark in a customer\u2019s relationship with your company, it\u2019s just the beginning. Engaged customers create emotional bonds with your brand, and can create a valuable feedback loop for product improvements.\u00a0<\/span><\/p>\n

You can elect to add engaged customers to customer or member councils who can get early access to new products or services and provide candid feedback in both one-on-one and focus-group style programs. If you\u2019re in software, your engaged customers can be the ultimate beta testing group.\u00a0<\/span><\/p>\n

In the positive cases, engaged customers become brand champions who are willing to provide referrals, testimonials, and enthusiastic reviews. In the best cases, they become brand evangelists who regularly engage in a positive manner with your brand on social media, and may even speak on your behalf at events, effectively functioning as an extension of your marketing team.\u00a0<\/span><\/p>\n

Why measure customer engagement?<\/span><\/h2>\n

While engagement is a major revenue predictor in recurring revenue businesses, all businesses can benefit from surfacing these metrics. No one will argue that engaged customers create lasting value for your company. Knowing you can count on positive references and referrals from clients will help you compete for more and bigger deals. While some of this will likely be qualitative in nature, there are tools and metrics available today that can quantify engagement and track it over time, giving you insights into past, present, and future performance.<\/span><\/p>\n

Five customer engagement metrics and KPIs that matter<\/span><\/h2>\n

There are five top customer engagement metrics that matter to nearly all companies. Each is described below. If you are wondering which matters the most to your company in particular, read on. At the end of each KPI summary, you\u2019ll see a list of which kinds of companies typically prioritize it.<\/span><\/p>\n

Start-ups defining and implementing their Unique Selling Points (USPs) will track different KPIs than mid-market companies working to scale up, gain traction, and win market share. Massive corporations typically focus on metrics that reflect their dependence on established brand reputations. That said, these metrics surface at the top for nearly all organizations.<\/span><\/p>\n

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1. First-week engagement<\/span><\/h3>\n

Engagement is often at its peak at the start of a contract. Make the most of your customer\u2019s initial enthusiasm with streamlined setups, progress tracking, and solid support.<\/span><\/p>\n

In a 2021 study, Link\u00f6ping University\u2019s Gustav Fridell examined SaaS best practices. He found that <\/span>reducing friction and monitoring progress increased first-week retention<\/span><\/a>.<\/span><\/p>\n

Consider guiding, tracking, and displaying your new user\u2019s progress through the onboarding process. They are more likely to stick with your solution if they can visualize a successful customer journey, especially during their first crucial steps.<\/span><\/p>\n

For example, these tips can improve the new customer experience and lower abandonment and unsubscribe rates in the software industry:<\/span><\/p>\n