How do you measure the success of a product or feature launch? 🤔
Batuhan Cebi
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Dhanraj Dhanokar@dhanraj
By the number of people/customers/users using it.
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It's not something fixed, usually depends on the product, feature, or even the overall goal you have set. For example if you're launching an e-commerce app and your goal is to sell, then success would mean meeting a certain amount of GMV. And if you're launching a sort of social network platform and your goal is is to generate revenue from ads, then success would mean having an x number of users and advertisers.
Depends on the product features and market
The success of the launch depends on the product at hand, i.e. Facebook, Stripe, and Slack each would have different metrics to gauge the success of their product/feature.
Usually, before your launch, you'd have some opinion about what would success look like so start with that.
Good question! But answer may vary for different products, in different stage. In early stage , you may focus on the user acquisitions. Number of new users might define your success for the early stage. But if it is the stable stage, you can focus on retention rate or MRR/ARR. Again, there is no single answer to this
Launching a feature or product can be an exciting time, but it is important to have a method to accurately measure success. One of the key performance indicators that can be used to measure success is user engagement and satisfaction. For example, changes in user behavior - such as increased usage, less subsequent editing of the product/feature, and more positive feedback - all point to a successful launch. Another metric of measuring success is customer base growth; if there are more people purchasing the product/feature than predicted then it has been successful. Finally, profitability and improvement in brand reputation through exposure can also provide insight into how successful the launch was. The great thing about tracking these KPIs is that they will help you set objectives for future product/feature launches in order to ultimately achieve your goals!
IMHO, the success of a product or a feature launch is based on how satisfied your customer with it! Basically, we all build the product/feature for the customers. So after the release; it should raise your customer as well as their faith on the product.