📊Metrics for Product Management

Metrics are CRUCIAL for understanding your users and whether your product is delivering value. Numbers tell a story. And you need to speak that language.

First, let's understand the difference between Metrics, KPIs, and OKRs. Take a look at this article:

OKRs, KPIs, and Metrics: Understanding the Differences | SplunkSplunk

Some Commonly Used Metrics

• Quantitative (numbers-focused): MAU, conversion rate, revenue

• Qualitative (user feedback): NPS, satisfaction scores, interviews

• Leading (predictive): New sign-ups, quality of inbound leads

• Lagging (historical): Revenue, churn rate

• Business: Revenue, profit margins, acquisition costs

• Product: Adoption, retention, feature usage

Selecting your Metrics

The AARRR framework is a model for tracking and optimizing the customer journey. It categorizes metrics into the following stages:

• Acquisition/Awareness - How do you acquire new users?

• Activation - Do users have a great first experience?

• Retention - How often do users come back?

• Referral - How do you incentivize sharing?

• Revenue - How do you monetize users?

Refer to this blog to understand metrics (and selecting your metrics) in detail:

Metrics for product management | Signals & StoriesMixpanel