📊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:
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:
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