How do you measure Product Engagement?
First let’s find what product engagement is because every product is unique. So there is no single engagement metric.
The way you can define your product engagement metric is this.
Find the most important events which bring more value to your product. They can be more than one. For example:
- Tweet on Twitter is more valueable than re-tweet
- Comment on Facebook is more valueable than Like
- Creating new project on Jira is more valueable than creating a new task
- Upload a new video on Youtube is more valueable than subscribe
Track those numbers and calculate:
x = Number of events / Number of active users
That is the x that you need to improve.