What's the definition of Product Engagement Score?
Product Engagement Score is a metric used by businesses to measure how actively users are engaging with a product or service. It is typically a composite score that takes into account a range of engagement metrics, such as usage frequency, duration, and depth of engagement, to provide a holistic view of user behavior.
Example of Product Engagement Score
An example of Product Engagement Score might be a software company that tracks how frequently users are accessing different features within their project management tool, as well as how deeply they are engaging with those features. The company might use this data to calculate a composite engagement score that provides insights into how actively users are using the tool and how engaged they are with its features.
How to measure Product Engagement Score
Measuring Product Engagement Score involves tracking key metrics related to user engagement, such as usage frequency, duration, and depth of engagement, and using these metrics to calculate a composite score that provides insights into how actively users are engaging with the product or service.
Product Engagement Score (PES) Formula
The formula for Product Engagement Score can vary depending on the specific engagement metrics being used to calculate the score. However, here is an example formula that incorporates usage frequency, duration, and depth of engagement:
Product Engagement Score = ((Number of Sessions / Number of Active Users) x (Average Session Duration) x (Average Depth of Engagement))
In this formula, the Number of Sessions refers to the total number of times users have accessed the product or service, while the Number of Active Users refers to the total number of users who have used the product or service during a specific time period. The Average Session Duration refers to the average amount of time users spend using the product or service during each session, while the Average Depth of Engagement refers to the average number of features or functionalities that users engage with during each session.
Why is Product Engagement Score important?
Product Engagement Score is important for businesses because it provides insights into how actively users are engaging with a product or service and whether they are deriving value from it. By measuring engagement metrics, a business can identify areas for improvement and take action to optimize the overall user experience.