5. Customer lifetime value (CLV)
Increasing your product adoption means less churn, which increases customer lifetime value. The latter refers to the customers’ value (in currency) over their total lifespans. A high CLV means your customers stick around for longer.
6. Product activation rate
Activation comes after the "Aha! Moment," and it's different for every product. First, you need to identify a specific in-app milestone or event that indicates activation before measuring the user activation rate.
7. New features adoption
Developers tuck much of a SaaS product's value into its features. Thus, measuring the feature adoption rate is essential to determine how much value customers get or leave untapped from interacting with your product.
8. Customer engagement score (CES)
Customers only get value from your product when they use it, hence the need to measure their engagement score. CES can indicate the risk of churn and opportunities from expansion. To calculate CES, identify relevant inputs such as specific user actions, usage frequency, or completed tasks and combine them for each customer.
9. Purchase frequency
A high purchase frequency for a product means it has a great user adoption rate and vice versa.