Product Collective - 🏆 Your product's success

Success Metrics for New Products

It’s not possible to know if your product idea will succeed before you introduce it. That doesn’t mean you can’t tell if your product is succeeding once you deliver it. The trick to gauging success is creating metrics that will tell you if you’re reaching your intended outcomes. Here are some ideas on how to introduce success metrics for your new product.

Overview: Setting the right metrics for product launches. Product launches are fraught with challenges—from budgeting to timelines to collaboration breakdowns, there are many places and ways a launch can go wrong. But one area where headaches are preventable is metrics: i.e., how you measure the success of your launch and subsequent product performance. 
Mark Simborg walks you through the value of setting metrics for product launches, how to define the metrics for your product launch, types of product launch metrics, and how Mixpanel used metrics for a specific project..
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How to measure product launch success: 12 KPIs you should be tracking. According to Harvard Business School, of the approximately 30,000 new products launched each year, about 95% fail. Of course, the product failure rate varies from one industry to another—for example, grocery products fail at a rate of 70-80%—but think about it: When you launch a new product, your odds of success are 25 to 1. If casinos offered those kinds of odds, they'd go out of business overnight. Madison Blask explores why so many new products fail, and how you can measure product success.
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How to measure the success of new product features and why it is important. How we measure the success of new features is one pillar of product management. While research and discovery are a great way to know where your product is going, Kedson Alves explains that a clear data strategy on how you’re going to use data to measure success is one of the most powerful tools to guide you along the way.
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Product success metrics: How to measure the success of a new product. We all know that kid from middle school, which everyone had big hopes for, but didn’t turn into an extraordinary genius, or vice versa; the lazy kid in class becoming an unexpected success… Come to think of it; it’s not always only people that prove other people’s expectations wrong. Hilal Yıldırım explains there are ways to measure Product Success in the early stages so that you don’t keep wasting your money on something useless. Or don’t give enough attention to a side feature that actually is the key feature of your product which you didn’t realize.
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What metrics are the most important for your product? The SaaS industry is full of advice on the perfect product metrics to gauge your users’ activation, engagement, and interactions. If you don’t know exactly what questions you want answered, these product metrics leave you blinded by the very data you hoped would open your eyes. Nick Odlum and Kevin McNally explain how to go from simply plugging your numbers into cookie cutter formulas to answering key questions about your product and business, and providing data that can inform product team decisions.
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Secrets behind getting your team — and even your users — to use data

For many of our products — whether the data is meant to be used by our teams or even our customers and users — sometimes, the data just sits there. The people that should be using it aren't doing so. Is it because they don't want to? Or, is it because of the way we've set the data up? In this discussion, we'll not only talk about why this happens, but what we can do to actually get our teams — and even our customers and users — to actually use the data that's out there. Plus, you'll have a chance to ask questions of your own!

Transitioning from Managing Products to Managing People

As Product Managers, it's tricky enough to navigate what it takes to successfully build, launch, scale, and manage technology products. But at a certain point, you may be asked to do something that takes a whole new set of skills — manage people. In doing so, you'll need to be adept at recruiting, training, developing and mentoring Product Managers. But making that transition isn't so straightforward. In this discussion, we dig into all of this — and will make time for your questions as well!

In this discussion, we'll dig into this conundrum — and you'll be able to ask questions of your own as well.

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