We are excited to introduce Sherlock – a new product from Space Pencil (the people who brought you Kissmetrics) – to the market this week.
Sherlock is a user engagement rating app designed specifically for SaaS companies – for whom the user engagement is … well … just about everything.
We built Sherlock to help SaaS companies finally surround the elusive beast that is the user's commitment – to make it tangible and accessible. Oh … and achievable. Very actionable. Sherlock is an analytics product whose goal is to make user engagement a centralized metric that promotes action throughout your SaaS operation.
WHY THE SHERLOCK EXISTS
Sherlock went from a personal desire, to a hack, to a prototype, to the product we just published over the course of several years. In many ways, Sherlock was a passion project – a scratching of our own itch – and in many ways it meets a market need that we can not believe has not been properly fulfilled.
We build Sherlock for three main reasons:
- In SaaS, user engagement really matters
- There has never been a good way to measure and quantify user engagement
- User engagement is a measure that should be implemented throughout an organization
1. In SaaS mode, user engagement is important – a lot. No, seriously, a lot.
This seems to be an obvious point, but one that can not be overstated.
The entire SaaS management model relies on retention. Without retention, there is no SaaS activity.
And the retention is based on the commitment. If people do not use your product, they will cancel.
No commitment, no retention. No retention, no business. The formula is really no more complicated than that.
The user engagement is also one of the true leading indicators of a SaaS activity. As the investor David Skok said in his excellent article on the subject:
"The goal of a SaaS CEO should be to increase the profits made by each customer (LTV), and to reduce the costs of sales and marketing that". it takes to acquire every customer (CAC) .Performing customer engagement is a key tool that will help you achieve that goal.
Honestly, apart from incomes, there is no more parameter important for a SaaS business as user engagement. "
In many ways, user engagement is the lifeblood of the entire SaaS business model. So … it's something that should be measured and managed like any other KPI. However …
2. There has never been a good way to measure the actual engagement of users
I was looking for a good solution to measure user engagement since I started building SaaS companies. It just made me understand that there was no easy (and effective) way to truly measure and understand all aspects of user engagement. This was one of my biggest frustrations during several SaaS companies.
And yes, yes … I used general analysis tools. I have tried almost all. But none of them really understood what I wanted. What I needed While they held all my data, offered many ways to slice and slice, none of them answered my question – in a quantifiable way – about what I was doing. user engagement.
What I've always wanted when running SaaS companies was not so crazy. I wanted:
- Know my best users / accounts
- Understand what makes them great
- Do more of them
Is not this really what every SaaS company wants?
For this to happen, the commitment of the users had to be quantified in a way that no general analytical tool could do. There had to be a solution that focused on that.
3. The user's engagement is a metric that can and should be operationalized throughout the organization
As a fundamental metric behind a SaaS activity, every part of the organization should use some of the quantified engagement of users to help them in their daily work . For example:
- The product should use the user engagement rating to determine if the characteristics of their work actually contribute to increasing overall engagement;
- Sales should give priority to their reach towards trial accounts based on the level of commitment of these accounts (see qualified product prospect model)
- The success of the client must use the measure of commitment to generate upsells, register risk accounts and provide context for all support interactions.
- The design should use the notation of the commitment to determine the best sources of feedback from users.
- Marketing should use engagement notation to better target the message, identify potential advocates and more.
- Boards and investors should use the measure of user participation as a factor of future investment.
The user's commitment, when done well, can drive operations throughout the organization – this list only scratches the surface. A good engagement scoring platform will make it very easy to connect data engagement with the different tools used to drive your operations.
Here are the three basic reasons why Sherlock now exists in the world. If you need more reasons, this post on Appcues blog is a good reference.
HOW SHERLOCK WORKS
Sherlock works by giving SaaS teams the ability to create a custom scoring model for their product.
Sherlock's trip begins by sending product usage data to Sherlock via Segment.com (for the moment, we only accept Segment data). Then, a user simply weighs the key events of the product (with a weight between 1 and 10) according to their importance to the overall commitment. It looks like this:
<img src="https://businessdigit.com/wp-content/uploads/2018/05/sherlock-presentation-user-engagement-rating-for-saas-enterprises.png" alt=" global commitment of sherlock "class =" full-size alignnone wp-image-36809 "/>
Not all actions are created equally. For each product, some actions (or events) are simply more important than others. You know it better than anyone else, which is why Sherlock allows you to manually set these weights. Once that's done … .voila! The entire Sherlock product is populated from there and you will immediately be able to:
Discover users categorized by Escrow
A complete list of your users, ranked by their level of engagement with the product.
<img src="https://businessdigit.com/wp-content/uploads/2018/05/1525284533_221_sherlock-presentation-user-engagement-rating-for-saas-enterprises.png" alt=" sherlock top users "class =" full-size alignnone wp-image-36811 "/>
In Sherlock, all users get an engagement score between 1 and 100. This allows you to discover your best users in seconds (we promise you, you will be surprised by the people who drive them. commitment). In addition, find out who is going up or down, what they are doing and how their commitment tends to be prolonged.
Discover Account Level Engagement
Really understand the commitment at the account level is extremely valuable for SaaS companies. I would say essential.
<img src="https://businessdigit.com/wp-content/uploads/2018/05/1525284533_774_sherlock-presentation-user-engagement-rating-for-saas-enterprises.png" alt=" sherlock active users "class =" alignnone full-size wp-image-36812 "/>
With Sherlock, you get a ranked list of your accounts as well as a list of all users of this account, by level of commitment. This is incredibly useful for many reasons, but especially when planning account management activities.
Tracking the overall commitment of the product over time
On the dashboard, follow the total number of active users, the average score per user and l & Total commitment of the product in time. Nowhere can you get data that tells you the overall performance of your product over time.
<img src="https://businessdigit.com/wp-content/uploads/2018/05/1525284533_697_sherlock-presentation-user-engagement-rating-for-saas-enterprises.png" alt=" sherlock partition distribution "class =" full-size alignnone wp-image-36813 "/>
Compare Engagement by Segment
Create custom segments for different groups of users and compare their engagement.
<img src="https://businessdigit.com/wp-content/uploads/2018/05/1525284533_718_sherlock-presentation-user-engagement-rating-for-saas-enterprises.png" alt=" segment sherlock "class =" alignnone full-size wp-image-36814 "/>
See which events are the most appealing
Get an overview of all the activities (events) of your product over time and see what events actually spark more engagement.
<img src="https://businessdigit.com/wp-content/uploads/2018/05/1525284533_63_sherlock-presentation-user-engagement-rating-for-saas-enterprises.png" alt=" Average user score of sherlock "class =" full-size alignnone wp-image-36815 "/>
Ship Engagement Results for All Your Important Operational Tools
The most important thing you can do with these quantified engagement data is to make them accessible in the key tools that will allow you to take action on this. We send engagement data to Segment, Intercom, Salesforce and Slack.
<img src="https://businessdigit.com/wp-content/uploads/2018/05/1525284533_861_sherlock-presentation-user-engagement-rating-for-saas-enterprises.png" alt=" Sherlock integrations "class =" alignnone size-full wp-image-36816 "/>
Again, we are incredibly happy to be able to bring Sherlock to the market. If you run a SaaS company at any stage, I can not imagine how you can run your business without a clear understanding of the users' engagement and all the benefits that flow from that understanding. That's what Sherlock is made for and we are very confident that it will bring a ton of value to your SaaS business
Register today for a free 17-day trial at https://www.sherlockscore.com
About the author: Derek Skaletsky is responsible for the success of products and customers at Kissmetrics. Previously, he founded the Knowtify Engagement Automation application, which was acquired by Kissmetrics.