How to Measure the Right Product Metrics

What gets measured gets managed. So it stands to reason that if you measure the wrong metrics for your product you could end up managing your product in the completely wrong direction. Here’s some advice for establishing the right product metrics to get and keep your product heading in the right direction.

Product metrics. There is a myriad of metrics you could track to gauge product performance. It’s easy to get confused about which is the right set of metrics to pursue. To help you out, Gerard Chiva provided this introduction to the world of product metrics. He wants to help you understand the basics of product metrics and make sure you don’t get confused by the different buzz words on this topic, so he explains the difference between One Metric That Matters (OMTM) and North Star Metric (NSM) and finishes with an introduction to Metrics Framework.

(via @aktiasolutions)

The definitive guide to designing product metrics. If you have a technology product, you’ll want to track something and its trends to avoid data debt when starting a product. A product’s success and quality are only as good as metrics that verify it, and engagement metrics alone are not sufficient. That said, Zachary Thomas has not seen many online resources that discuss how to design a good metric, so he put together this guide to help you design your own metrics.

(via @zach_i_thomas)

Finding the metrics that matter for your product. Startup literature is full of ardent advice on how to measure activation, engagement, and how users are interacting with your product. These concepts might help your business in the short term, but can leave you blinded by the very data you hoped would open your eyes in the long term. Kevin Mcnally and Nick Odlum explain how to go from plugging numbers into formulas to asking and answering key questions about your product and business in order to track and use the right metrics.

(via @khmcnally and @muldokcin )

19 Product management metrics and KPIs to track in 2020. To be a successful product manager of a SaaS product, you need a good understanding of the fundamental metrics of the trade. Adam Von Reyn covers 19 product management metrics from specific metrics that help you understand user engagement or the resonance of a new feature, to high-level metrics that indicate the health of the overall business. When you understand these fundamentals, you’re well on your way to becoming a better product manager.

(via @TeamParlor)

Metrics that matter to product managers. The inherent value of product metrics is in discovering little nuggets from the myriad of analytic data available about your product. To discover these nuggets, you need to ask interesting questions and know which metrics you should be measuring. Richard Holmes can’t ask interesting questions for you or your product and tell you which metrics matter most for your product or business model. But he can provide you with a useful list of metrics by product vertical which you can use for your product.

(via @Deptofproduct)

Kent McDonald
kentjmcdonald@gmail.com

Kent J McDonald writes about and practices software product management. He has IT and product development experience in a variety of industries including financial services, health insurance, nonprofit, and automotive. Kent currently practices his craft for a leading agriscience company and provides just in time resources for product owners and business analysts at KBP.media and Product Collective. When not writing or product managing, Kent is his family’s #ubersherpa, listens to jazz and podcasts (but not necessarily podcasts about jazz), and collects national parks.