What is the best ways to measure the success of a product launch?
Shaur ul Asar
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Justin McGill@jus10mcgill
I think the best way to measure the success of a product launch is by tracking KPIs specific to your goals
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@jus10mcgill I completely agree with you.
It provides valuable insights into the performance, impact, and effectiveness of your launch strategy.
Monitoring customer feedback and sentiment through surveys, reviews, and social media mentions can provide valuable insights into the reception of your product and its impact on users.
I think by comparing pre-launch expectations and post-launch results can provide a clear understanding of how well the product launch performed against set targets.
@mani_abod I completely agree with you.
This comparison provides a clear understanding of the effectiveness of your launch strategy and enables you to identify areas for improvement
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By examining user retention and customer lifetime value (CLV), I guess
The best way to measure the success of a product launch is the badge of the product of the day 😂😂 But seriously, in my opinion, the best metric is feedback from users which will give you a clearer picture of your product
@realvladgolub Absolutely! User feedback is key to truly understanding the success of your product launch. It offers valuable insights and helps you improve the product.
I think one of the most important metrics to track MRR, ARR, ACV, retention rate, customer satisfaction score, and conversion rate. Depends on what you set success for as well.
@canberk_ars Yes, indeed these are important indicators for measuring the success of a product launch.
Launching soon!
Benchmarking against competitors in terms of market share, customer feedback, or industry rankings can help assess the relative success of your product launch and its impact on the market.
For me, if users are genuinely signing up for your product - that's the metric I would choose. Once they do, they will leave you with feedback for sure. They can't leave a feedback, if they haven't used it.
Conversion.
Paying customers.
Traffic.
Tangible metric over noise is the right approach to take.
I think the most important thing is to set the goals BEFORE the launch so you have objective measures rather than trying to define the KPIs based on the metrics.
I personally think the success can be measured by visits from the link shared on product hunt along with how much feedback do you get about your product.
It's not about getting comments from your existing users but from new users that you potentially converted out of it!
This is our first launch! So right now our hope is our supporters will review us and help us get traction. And if we see new users in the coming days and weeks we'll be over the moon.
Check us out and see if we get it right the first time! https://www.producthunt.com/post...
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The success of the product according to user reviews.
@siit @camille_bencoil1 It's great that you are focused on gathering feedback and evaluating the responses ✨
Depends on why you did it.
For instance, next week we're going with Argil after our first Product Hunt.
The goal is to determine if our horizontal play for No-Code AI-automated workflows makes sense for everyone or not.
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Find out if any specific niche verticals wish to use our product.
That's why we're launching, if we cant have feedback for both then we're good :)
Launching soon!
Visitors vs recurring visitors in GA
Good day! Very interesting.
Depends on your goals and what metrics you specify to help you reach those goals. Context is king, imho
Bonus if you have great early adopters!