How to track product onboarding experience?
Onboarding is a pivotal stage that shapes an individual’s entire product journey. A well-structured onboarding process significantly influences a product’s success. This rings particularly true for SaaS companies relying on subscription-based models. A smooth and successful onboarding not only introduces users to a product but also showcases its value, encouraging continued usage and investment.
In this context, Usermaven plays a crucial role in aiding product owners in tracking the onboarding journey. By monitoring key metrics and analyzing user interactions, Usermaven empowers product owners to streamline the onboarding process, enhancing user retention and satisfaction. Through the dedicated "Product Insights" section, Usermaven provides a comprehensive view of onboarding for both B2C and B2B SaaS companies.
Several metrics play a vital role in measuring and enhancing the user experience. These metrics include:
- Time to Value (TTV): Time to value signifies how quickly users recognize the value of your product. A shorter TTV indicates a smoother onboarding process and boosts trial-to-paid conversion rates.
- User Activation Rate: This metric measures the percentage of users who achieve specific activation points within a defined period. It's crucial for evaluating the effectiveness of the onboarding flow.
- Trial to Paid Conversion Rate: This metric measures the percentage of free trial users who become paying customers, indicating the effectiveness of your onboarding in aligning user goals with your product.
- Onboarding Completion Rate: The onboarding completion rate represents the proportion of users who successfully navigate through your entire onboarding process. Ideally, you'd want the majority of users to complete the whole journey.
- Identifying Drop-off Steps: Identifying the step with the highest drop-off during the onboarding process is crucial. Once pinpointed, you can focus on refining that particular step.
- Measuring Conversion Rate: Aim for a high conversion rate during the onboarding process. A lower conversion rate indicates users are abandoning the journey at specific stages.
Usermaven's onboarding report offers a hassle-free approach to monitor essential onboarding metrics. Within this dedicated section, you can effortlessly keep tabs on critical data points. This includes tracking the total number of users who have started onboarding, identifying those who have successfully completed their onboarding process (total conversions), and evaluating the overall conversion rate based on these metrics.
Additionally, Usermaven recognizes that users may encounter challenges during the onboarding process, and the platform provides insights into where users might get stuck, enabling proactive improvements to enhance the overall onboarding experience.
Moreover, you have the flexibility to view these metrics from a user or company level perspective by navigating to the “User” or "Companies" tab:
- User-Level Onboarding Metrics: This metric tracks the total number of individual users, both in B2B and B2C settings, who have initiated the onboarding process. It helps you identify the users who have successfully completed their onboarding journey, known as "total conversions." Additionally, you can evaluate the overall conversion rate based on these user-specific metrics.
- Company-Level Onboarding Metrics: This feature is particularly valuable for businesses or products that cater to organizations, whether in B2B or B2C contexts. Company-level onboarding metrics provide insights into how entire organizations navigate the onboarding process, offering a holistic view of adoption and engagement.
Lastly, to align with your reporting needs, Usermaven provides a date picker conveniently located in the top right corner of your dashboard. This feature allows you to select a time range that aligns with your analysis requirements, ensuring that you have access to the most relevant and up-to-date insights.
To set up "Onboarding Insight", follow the steps outlined below:
- From the left menu, click on "Product Insights", and then select the "Onboarding" tab.
- Click on the "Manage Insights" button, followed by the "Onboarding Completion Rate" setup button.
- Provide a name for your onboarding completion rate insight.
- Add the desired steps for your onboarding process. You can include as many steps as necessary.
- Choose the "Onboarding Step Order" option:
- Sequential Order: Step B should follow Step A, but other events can occur between Steps A and B.
- Strict Order: Step B must occur immediately after Step A with no intervening events.
- Finally, click the "Create" button to establish your onboarding completion rate insight.