Definition (1):
Product usage is a variable in behavioral segmentation in which marketers group consumers based on how or when they use a product.
Definition (2):
It refers to the data telling you about the user, their doings while using a product, when and how they use it, and the duration of using the product.
For example, a product usage report of any soap is a report which details the number of soaps used by a family or hotel in a particular period of time (for example, week, fortnight, month, quarter, half-year, year).
The data regarding product usage is a useful resource for a business. It is the secret to targeting customers, planning for expansion and designing new campaigns. The marketing team needs to unlock this information to flow it into the right direction. The team should use this information in the following way:
- Instantly connecting to this information.
- Automatically utilizing this information anywhere.
- Automating the whole product usage processes instead of using manual spreadsheets.
- Creating a complete picture of customer analytics.
- Driving more renewal and expansion pipeline.