Metrics are key ways to track progress against north star missions half over half. When conceiving your metrics, consider each of these categories & pick the right metrics across them.
Product metrics categories
1. Health metrics
2. Usage metrics
3. Adoption metrics
4. Satisfaction metrics
5. Ecosystem metrics
6. Outcome metrics
Health metrics
Is the product available & performing in the manner that users would reasonably expect?
Examples:
latency, initial load time, uptime, data loss rate, error rates, cpu utilization, memory utilization
Usage metrics
How are users using the product?
Examples:
time-of-day/day-of-week trends, top N actions, funnel metrics, help docs usage, retention, password reset, queries per second, queries per caller/channel
Adoption(Growth) metrics
Is the product (along with its key features) being used as much as we’d hope and in the ways that we’d like?
Examples:
active users, dap:map:wap, N of M day usage, strategic feature adoption trends, free-to-paid conversions, number of callers, retention
Satisfaction(Engagement) metrics
What is our customers’ overall sentiment towards the product or its main features?
Examples:
overall CSAT, new feature CSAT, support CSAT, weekly active thread, time spent per day, likes per user, comments per user, riders taken per day, weekly riders per rider, weekly rides per driver
Ecosystem metrics
What is the macro state of the product within the domain in which it operates?
Examples:
share of wallet, 3rd party integrations, industry rank, marketshare within target segments, % of TAM, category rank, ratio of buyer and seller side in 2 sided marketplaces that define the ecosystem health
Outcome metrics
What overall results are we seeing from this product?
Examples:
revenue, margin, revenue per user, active users, marketshare, transactions, % of Fortune 1000 covered,...
