Measuring product adoption by users is critical for SaaS and Cloud companies as this is the most telling indicator of the value customers are getting from products and services.
And when it comes to preventing churn and driving growth, it is necessary for companies to know which customers and users are using their products, how they are using them and to what extent.
In order to create this visibility, cloud and SaaS product teams need to instrument their applications (web, mobile, saas) to report on product usage. By “instrumenting a product,” I refer to the technical process of creating an event log of user activities, so this log can be analyzed to answer the usage questions mentioned above.
The technical process of instrumenting a web or mobile application is relatively straight forward. It involves adding a simple instrumentation code into the application that logs the user activity at various integration points. Totango provides such instrumentation technology out of the box for both web and mobile applications.
Once the product usage events are being reported, preferably in real-time, a usage analytics system is reading the instrumentation log and provides KPIs of the various dimensions of product usage and adoption. These KPIs can be used to predict and prevent churn, identify growth opportunities, and provide information to product managers and designers to improve product adoption and value. – Read more