What all metrics you measure to check the growth of your product
Anil Matcha
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Anton Zorin@tonyzorin
Number of backlinks (it affects search rankings and therefore the number of visitors)
Number of visitors (it's the TOFU = Top of the Funnel)
Number of signups
Activation rate
Adoption rate
Conversion to paid
Account retention
Net revenue retention
NPS
There are many more metrics, but I think it's better to focus on just several if not one.
Share
You can check with customer feedback, retention rate & comparison of sales 💵 with last quarter.
Revenue, conversion rate, specific mentions on social media etc.
User Acquisition:
Number of new users
User sign-up conversion rate
Cost per acquisition (CPA)
Channel-specific acquisition metrics (organic, paid, referral)
User Engagement:
Daily active users (DAU)
Monthly active users (MAU)
Stickiness ratio (DAU/MAU)
Session length (time spent per user session)
Session frequency (average number of sessions per user)
Feature usage (which features are being used most frequently)
User Retention:
Churn rate (percentage of users who stop using the product)
Retention rate (percentage of users who continue using the product)
Cohort analysis (grouping users based on acquisition time and tracking their retention over time)
Revenue Metrics:
Average revenue per user (ARPU)
Lifetime value (LTV) of a user
Customer acquisition cost (CAC)
LTV/CAC ratio (to assess profitability)
Revenue growth rate
Conversion rate from free to paid users (for freemium models)
Customer Satisfaction:
Net Promoter Score (NPS)
Customer satisfaction score (CSAT)
Customer effort score (CES)
User reviews and ratings
Product Performance:
Loading times and speed
Uptime and reliability
Error rates and crash reports
And of course, you can choose which metrics stick more to your product. ;)
@jozsef_molnos haha, this is the longest KPI list I've ever seen. Do you think it's effective to implement them all?
@jozsef_molnos Wow, it's impressive. Compared with you, I just focus on very basic metrics, so shameful.
We very much use Weekly Active Teams as our North Star Metric.
Then we measure things that help with it, such as Weekly Active Users, 2 Week Retention, Acquisition %, among others.
The important part for us is making sure that the North Star Metric keeps growing that the user experince is improved on feedback and problem discovery.
Here are some useful metrics:
1. User acquisition rate
2. Conversion rate
3. User retention rate
4. Churn rate
5. MRR
6. NPS
7. CAC
8. CLTV
We're gradually refining our north star metrics from activity-based to value-based. For example, we started with:
- Monthly active users/daily active users
- Figma installs
- Recurring users
And are gradually switching to more value-based metrics:
- Prototypes built
- Prototypes shared
I guess a combination of both (together with more classic SaaS metrics like conversion rates/revenue/...) is ideal. Value-based metrics are usually inherent to your business/product.
@matcha_anil I don't think one metric is better than the other, it depends on what decisions you want to take from them. For example, usage metrics (DAU/MAU) might be more interesting from a marketing perspective: "is our new ad campaign driving more adoption". Value metrics on the other hand are better for product-based decisions (e.g. Does this new feature increase "the value" a user gets).
Note that all of this is my view on things, none of this is an exact science I guess 😀
There are many metrics that can be used to measure the growth of a product, and the ones that are most relevant can depend on the nature of the product and the goals of the company.
1. User acquisition: Tracking the number of users who sign up for or download the product, as well as how they found out about it.
2. User engagement: Measuring how often and how deeply users interact with the product, such as how long they spend using it, how frequently they return, and what actions they take within it.
3. Churn rate: The percentage of users who stop using the product over a given period of time.
4. Revenue: The amount of money earned by the product, whether through sales or other sources (such as advertising).
5. Customer satisfaction: Measuring how happy users are with the product, such as through survey responses or reviews.
6. Conversion rate: Measuring the percentage of visitors who take a desired action, such as signing up for a newsletter or making a purchase.
@victoria_wu Is it Chat GPT?
I've seen some really insightful thoughts here: https://www.producthunt.com/disc...
Our company focuses on tracking daily active users, user retention rates, and session duration to keep our users engaged with our product.
We measure customer acquisition cost and customer lifetime value to ensure we are achieving sustainable growth.
One favourite metric - # paid clients/ Total leads.
Improving funnel conversion is the key to hyper growth.
Social media engagement and follower growth is a key metric we measure to assess brand awareness and customer sentiment.
Our company closely monitors churn rate and customer satisfaction to ensure we are meeting customer needs and expectations.
I check Conversion rate each funnels, WAU on a weekly basis and I share to my team members
here are some common metrics that companies use to measure the growth of their products:
User Acquisition: This measures the number of new users who sign up or register for your product or service.
Conversion Rate: This measures the percentage of users who take a desired action, such as making a purchase or signing up for a subscription, after visiting your product or service.
Engagement: This measures how frequently users interact with your product or service and the amount of time they spend using it.
Retention: This measures how many users return to your product or service after their initial visit, and how often they continue to use it over time.
Churn Rate: This measures the percentage of users who stop using your product or service over a given period.
Customer Lifetime Value (CLTV): This measures the total value of a customer over the entire time they use your product or service.
Net Promoter Score (NPS): This measures the likelihood of users to recommend your product or service to others.
Revenue: This measures the amount of money generated by your product or service over a given period.
Market Share: This measures your product's or service's share of the total . You can find more https://apunkagames.cc/gta-games/
We track our product's mobile app ratings and reviews to understand user sentiment and satisfaction.
Our team closely monitors our revenue growth and monthly recurring revenue (MRR) to ensure sustainable business growth.
We track our product's search engine rankings and optimize our SEO efforts to increase visibility.