What are the key metrics you use to measure the success of your product?

For evoke-app.com, we have metered usage. So I would say users that constantly make API calls that result in large revenue.

paid rate and share rate

It depends on the type of your product: news websites, social networks, SaaS tools or IM? Different products may focus on different metrics.

1. Sales and 2. Customer retention

One of the key metrics you can also track is the how many mentions about your product you get on social media platforms like reddit and twitter on a daily basis. If people are naturally talking about your product in their posts or recommending it to their friends, that's a good sign of success.

Mostly Paid conversion & NPS. but there could be different metrics at different stages of the product/business. Like DAU, Avg connections per user (Social network).

In my case, it is the number of returning users and average spent time. Also, I found it quite difficult to correctly measure everything, because it seems like Google Analytics messes up some numbers quite often. There are a few resources that my fellow startup owners found, especially interesting regarding KPIs: 1. The 2023 OKR Guide - https://info.quantive.com/hubfs/... 2. Sales number guide - https://knowledgehunt.co/resourc... 3. Onboarding KPIs for SaaS - https://knowledgehunt.co/resourc... Hope it helps :)

At https://bonikapp.com we use some metrics. But the followings are most important ones. 1. MRR (NS metric) 2. ARR 3. GMV

User engagement。 This can be measured through various metrics such as: 1. Active User Count: The number of users who actively use the product on a regular basis. 2. Retention Rate: The percentage of users who return to the product after their first session. and more depending on your product

Excellent question! Measuring the success of a product is crucial in order to understand how well it is performing and where improvements can be made. I typically focus on metrics such as user engagement, retention rates, conversion rates, and customer satisfaction. These give a good overall picture of how the product is being received by users and how well it is meeting their needs. Additionally, I also keep an eye on more specific metrics that are relevant to my product, such as the average time spent on a particular feature or the number of referrals generated by happy users. Overall, having a well-rounded approach to measuring success is key in making informed decisions for the future of the product.

NPS & Churn. Let people put their money where their mouth is.

The success of my products, CowTransfer.com and WorldofCreator.com, is measured using several key metrics. However, the primary metric I use to gauge the success of these products is the gross margin. This metric provides a clear understanding of the product's profitability and the effectiveness of the business model. The gross margin helps me determine the value that each user brings to the business and how much revenue is generated from their usage of the product. While metrics such as Daily Active Users (DAU) and Monthly Active Users (MAU) are important, they alone do not reflect the overall success of the business. It is essential to understand the profitability of the product and the value it generates for each user. Having millions of users does not necessarily mean success if the product does not have a solid business model and is not generating a profit. The focus should be on delivering value to the user and ensuring the product is profitable.

For me its retention, the ARR values and the L1&L2 tickets that are closed

I place more significance on the level of user usage than I do on the total number of users. 10 heavily utilised consumers are significantly more important than 100 newly enrolled users, especially for early goods. https://essentialsclothing.net/

Depends on the product. At 3veta we track metrics that revolve around customer acquisition and retention. For example, we measure user engagement and satisfaction, frequency of use, and financial performance. The more data you gather, the clearer picture you will get.

This is a such a good question because every organizations goals are so different. Not one organization will be tracking the same exact thing, because what one company may view as insightful the other may not. We are tracking, revenue, customer retention etc anything that has to do with growth and scaling.

Quantitatively conversion rate. Qualitatively organic reviews (more important to me

DAU and customer retention rate for now.

A thing that's always interesting to look at is how fast people get to the point of understanding the value of the product. I.e. how they move from just registering to performing an action that is required to complete a specific use case. Bulding that kind of funnel helps you understand if there is anything preventing them from seeing / trying what you actually want them to try and see the value.

To measure the success of our product, we keep a close eye on a few key metrics: User Acquisition: How many new users are we attracting and how are they finding us? User Engagement: Are our users finding our product valuable and using it regularly? User Feedback: What are our users saying about us and what can we improve? Revenue: Is our product generating enough revenue to be sustainable? By tracking these metrics, we can make data-driven decisions to continuously improve and make our product even more successful!