Are you measuring correctly?
During product launches, teams often struggle with vanity metrics, which are superficial and easily obtained metrics that don’t provide in-depth information about the product.
Among these are prime examples: views, likes, downloads, and followers. However, to gain a detailed insight into a product’s success, more information is needed. What matters is whether these superficial metrics create a meaningful change in user behavior and, ultimately, how quickly this translates into revenue.
Another major measurement mistake is not clearly defining key performance indicators, KPIs. If a team doesn’t understand what defines a product as successful, they may be spending their energy in the wrong areas. This wastes time and can make the launch appear underperforming. Therefore, aligning every department around the same goals is critical for effective measurement.
To overcome issues related to key goals, setting a maximum of five goals before the launch will help prevent potential problems.
The percentage of users who take the first valuable step toward a product (activation rate), a user’s 30-day status, customer acquisition cost (CAC), total customer revenue (LTV), and the percentage of customers who abandon the product and never return (churn rate) are among the most commonly used metrics in this field.
Furthermore, creating dashboards that are updated daily and weekly are important methods that enable teams to take real-time action based on the situation and enable rapid strategic changes when necessary.
