Product manager kpi examples


As Product Managers, opening up Google Analytics and being confronted by the all options available can be a little daunting at first. But after a few tweaks here and there and a little trial error, we eventually get it. We set up our little dashboards which show the metrics we think are important and then we feel good about ourselves. If you want to use metrics to further your career, make yourself look intelligent to your peers or bamboozle other people in a meeting room then go for it. The inconvenient truth is that in many cases, particularly in larger corporates, creating a veneer of intelligence by using graphs and charts will work wonders to further your own personal ends. These little nuggets of gold can transform the direction, focus and fortunes of a product.


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WATCH RELATED VIDEO: Top 3 KPIs for Project Managers

What Metrics Should a Product Manager for an E-Commerce Company Measure?


There is no doubt - if you look after the product launch and growth, you need to know how the product is performing. Product metrics help you to see if the ball is rolling or not. There is a lot of metrics in the digital world, and I bet you can probably list one or two hundreds of them.

That's not the point. The point is to have two, maximum four on your whiteboard, not twenty or thirty. You want to have a gander at the dashboard and immediately learn how is your digital product performing.

Let's have a look, how to make sure your product management metrics are appropriately selected, and you measure enough, not everything. To choose the right product success metrics, you need to make sure your business model exists and is available as the document. One of the best ways to structure it is to build the business model canvas. I assume you have one, and your value proposition is up to date. This is where you need to start by linking your value proposition to the product metrics.

Related : Validating and designing a value proposition. One of my customers helps home appliances manufacturers to make their products discoverable on e-commerce platforms. The value proposition is straightforward. The manufacturer makes dishwashers, washing machines, and microwaves, my customer makes them available for purchase on most eCommerce sites, with one click. In this situation, it is quite easy to list product metrics, which will tell the manufacturer if my customer technology converts or not.

Number of clicks, minutes spent on reading a product description, number of items added to baskets, number of transactions, average purchase value - all of these product numbers are important to track the performance for my customer.

It depends on what is the business goal of the product. Understanding this makes the KPIs prioritization possible. If your product directly generates revenue, then the revenue is probably the most critical metric or at least an important one.

Let's have a look at my customer product. Their goal is to make manufacturers products available on the eCommerce platforms quickly. Speed and range matter here a lot. All the metrics associated with speed and product availability are moving to the top of the ladder.

It is because the value proposition, which is a foundation of their business models, vows that. Let's have a look at LinkedIn now. If you have a LinkedIn profile, you know how it is easy to find you. Recruiters love that. This is part of the value proposition, which both sides enjoy. How to translate it to metrics? The number of profiles is one metric; a number of registered recruiters are the other metrics. The number of searches conducted by recruiters is the third, the most critical parameters.

By tracking these numbers, it is easy to measure the success of the LinkedIn product. I have found it very powerful to connect value proposition with the product goals and then define the most critical metrics. Do you care about Facebook ping speed, number of users logged in in the morning, or how many virtual servers they hire to serve users?

No, you don't. Your customers don't care about your infrastructure, technology architecture, and other technological issues. They don't have to understand this, neither track it. Technical performance indicators bother only technological people, and this is good. Why did I mention this? Some companies are tracking not what they should.

CEOs spend money on advanced technologies or software, and then start to follow the technical indicators. I think it is not valid, as it steals the focus.

Instead, every minute invested in funnel analysis is a properly invested minute. Funnel never lies. Let me quickly explain what I mean by "funnel. This is your acquisition level. You might also run a blog, as I do, and share content to help pet owners properly take care of their beauties. This is another puzzle in your acquisition process.

Now, a user consumed your piece of content and came to your online store. She is browsing and searching, and finally, she set up the account. You have activation in place. She activated the account. This is your activation level. Now, you want the user to come back. Here is the retention asking for the attention.

Let's say you release a coupon. She came back. Your retention product metrics changed in plus. She is so happy, and she asked her boyfriend to join your website. Referral worked. Your funnel sees more referrals coming. It is good. More retention, combined with more referrals, always bring more growth. It doesn't matter what the growth means to you, revenue or downloads, this particular KPI is climbing up.

I hope I did a great job and explained how to conduct the process of picking up the most crucial product metrics. I still didn't name the particular metrics, but I gave you strategic hints. They will help you to pay attention to these processes and these actions, which influence your business the most.

Please remember, the value proposition is the most critical part of any business model. Your product success depends on how the value proposition is strong. Number two is your funnel. Every business needs to respect the funnel. Pick up these actions which drive your funnel, and measure them. For LinkedIn, the funnel looks differently than for Apple Music, but everybody needs to start at the acquisition level and give people reasons to influence the company growth.

Here is the list of metrics, which are relevant to most of the digital products on the planet. I picked up the most popular metrics, and not specialized ones. When I run AI-powered product development, I use a lot of specialized metrics. Please put your value proposition and funnel glasses now, and filter these metrics which track what matters to your digital business.

These metrics measure a product's total revenue in one month. To determine them, consider the MRR at the beginning of the month, add gained revenue from new acquisitions, and deduct revenue from lost customers. These metrics help you to understand the level of revenue generated per user monthly or annually. It helps to grasp the idea of retention. If the pool of users buys with you regularly, it means the ARPU increases in time. These measurements allow you to calculate how much money a user generates in the long term.

Track LTV to determine distribution channels, purchasing cycles, retention strategies. If you sell through the third party, LTV can help you to understand if it would be better to open your own eCommerce store. Imagine you sum up marketing spendings, sales teamwork, advertising, new features for Christmas, and then check how many users all the effort acquired.

You will learn about your customer acquisition cost. This is one of my favorites metrics. As you probably see, it sits on the top of the funnel. It measures how effective you are doors. If you run a beautiful restaurant, with a fantastic kitchen and menu, and nobody orders from you, your acquisition sucks. That means you might have a great product, but the acquisition doesn't work. If you increase budgets for marketing and leave the rest as it is, your CAC will increase, which is not good.

The same happens to apps. A beautiful app, which has zero downloads, will have poor CAC. It is a vital product metric, as it shows whether users appreciate your value proposition. The best way to measure it is to take the total time users spend in your product, divide it by a number of users, and you will see how your product performs.

If you read Forbes magazine for 2 hours per week, and a single session is 1 hour, it means the product books your life for 1 hour.



23 OKR examples for Product Managers

At a SaaS company, metrics can be even more muddled for PMs. Remember the Technology Adoption Lifecycle Model? Where your product falls on this model impacts which metrics you should monitor. Being a SaaS company ourselves, we want to help.

Product Metrics. Mobile product managers have a long list of Product Management Metrics to pull from when determining the success of their.

A guide to SaaS metrics for product managers

You know this excited feeling you get when you start working on a new feature? As a Product Manager, you may have faced questions like:. I could go on for hours. In my previous job at a large scale tech company, I learned a lot about how to define KPIs and metrics while building products for more than one million customers. A couple of my mentees ask me similar questions. When I started getting deeper into the topic of measuring and quantifying projects and products, I got lost in gazillions of definitions and interpretations. I love collecting information from different sources, picking the best pieces, and phrasing them and simplifying them in an understandable way.


Defining Product Success: Metrics and Goals

product manager kpi examples

Recently spotted want ad: U. Must have a user-centric mindset and be creative, innovative and collaborative. To bake analytics into your human capital management practice, begin by identifying the KPIs and metrics that will help accelerate your organizational goals. Talent management refers to the way in which a company puts together the best workforce for its business model and continues to develop and meet the individual motivations and needs of employees so that they stay with the company.

Published November 29, , updated Dec, 07 Summary - While some basic sales KPIs remain in place, industry changes have meant that modern SaaS sales teams now embrace some newer, more dynamic sales KPIs than in year's past.

The Key Metrics That Fintech Product Managers Can’t Live Without

In order to give you a top-notch experience on our website, Lucidity and our partners may use cookies and similar technologies to analyse usage, personalise content and ads, and optimise our site. Our Privacy Policy has lots more info on the cookies we use and how to amend your settings, if you fancy taking a look. The world of Product Management has greatly matured over the years, with the discipline becoming more strategically important for many companies. In this article we'll look at:. Take a read of those further guides for more information on each. These can include


9 KPIs Every Retail Manager Should Track

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Let's look at SaaS for example. SaaS focuses on month-to-month product and service offerings. This business model means that sales teams are.

Five agile metrics you won't hate

Ecommerce is an incredibly competitive field. The best way to help your business thrive is by using data to understand your customers and serve them in the best possible way. Monitor the financial health of your business and prove your viability to shareholders with these metrics. Use KPIs to justify your initiatives and make adjustments if needed.


The Best B2B SaaS Metrics and KPIs to drive excellence in B2B SaaS Product Management

Product management KPIs and metrics help product managers monitor their performance to ensure that the company is improving and working towards a successful product strategy. But what are product management KPIs and metrics, and how can they help you? And more importantly, which metrics should you be tracking? KPIs determine if your business is achieving its core business targets and objectives. Metrics can also serve as a performance indicator that helps you determine if your business is achieving its goals.

Des Traynor. Liam Geraghty.

Stats and charts are powerful tools. Use them for good, dear agilists Summary: Agile metrics provide insight into productivity through the different stages of a software development lifecycle. This helps to assess the quality of a product and track team performance. On the one hand, we've all been on a project where no data of any kind was tracked, and it was hard to tell whether we're on track for release or getting more efficient as we go along.

This tutorial will walk through how to select useful and actionable product metrics for an e-commerce business. But they fall into one of three categories: primary metrics, secondary metrics and operational metrics. A primary metric is a metric that reflects the ultimate goal of the product, and should align with the ultimate business goal.


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  1. Gabei

    Of course, this goes without saying.

  2. Moogulrajas

    The joke is cruel!

  3. Daishya

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