Your product data is a goldmine of information.
You can see which users (or accounts) are more active and how they are using (or not using) your product.
Unfortunately, getting your hands on product data isn’t always easy.
Defining a proper signaling system is the key to activating your product data.
Why do we need a data signaling system?
It highlights the accounts you should be spending your time on. Specific actions can be taken at the account or user level in response to these signals.
Based on product usage data, how do you define your signals?
You should primarily focus on six vectors:
1. Account Tenure.
How long has a user/account been using your product? Have they a new account ? Or a mature account that has been using for over two years? Depending on the account tenure, you should activate different signals.
2. Account Size.
Depending on the account size, you should also activate different signals.
3. Account and User Activation.
This is a static measurement of how far a user or account is along the value creation journey.
4. Account and User Engagement.
How much is a user or account using my product? it is a measure of how much your product is used by a user or account over time.
Account avg score over time.
User avg score over time.
5. Percentage of Active Users in an Account.
Number of active users per account
Total users per account.
% of users active per account.
6. Account and User Adoption Rate.
How deep is a user or account´s feature usage? are they primarily focused on one of your features or are they diving deep at your key features?
The following two examples illustrate the combination of all these vectors:
Signal Name : Expansion Opportunity.
Tenure : > 6 Months. Account size : Medium. Engagement and Activation : High engagement score, more than 20 active users, Triggered key features. Account Adoption Rate : 75%
Signal Name : Potential Problem Account.
Tenure : > 6 Months.Account size : Medium.Engagement and Activation : Significant engagement drop, less than 3 active users. Account Adoption Rate : 20%
As soon as you have a clearly defined and well tracked set of signals, you should create a set of suggested actions for every single one. Assigning signals assumes your team can’t deliver high-touch attention to every account and needs to focus on those with the greatest need.