Product Collective - A successful product launch?

Success Metrics for New Products

We suspect we’re not the only ones who have launched a product, threw a party, and then turned our attention to something else in the past. That, of course, is not the way you should do things. There’s that period after you launch where you see how your product is doing and make necessary tweaks. In order to do that effectively, you of course need metrics specially suited for new product launches.

Craft Impactful Products with AI  

Measuring product success — Three tiers of product success metrics. Product-led companies optimize for outcomes, align their product strategy to specific goals, and prioritize the initiatives that develop those products. They actively track and manage how their products perform, using the right product analytics metrics and value metrics. Not all metrics are the same. Not all metrics are useful for tracking value. Therefore, Robbin Schuurman explores the three different tiers of value metrics.
(via Robbin Schuurman)

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. So, Madison Blask asks, why do so many new products fail, and how can you measure product success?
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How to measure and increase the chances of your new feature’s success. Upgrading your product features and introducing new ones is a key part of a successful SaaS product strategy. But how do you measure the success of a new feature? Are the active users aware of the new update? How many users are finding value here? Is it improving the user experience and increasing your monthly recurring revenue? Team UserPilot explores how to measure new feature success and five key metrics and KPIs that illustrate its performance.
(via Userpilot)

How to measure success after a product launch. Product managers use many key performance indicators (KPIs) to gauge the success of a product, but using them all at once can make you feel overpowered and disoriented. Netflix looks at daily and monthly active users, while you may want to use NPS to gauge the success of a hotel recommendation app. Advait Lad explains the success of a product is subjective and not one-size-fits-all. Advait shows how to define what success looks like for your product and how to measure it post-launch.
(via LogRocket)

19 Product launch metrics you need to be tracking. Getting ready to launch your product to the world? Or maybe you’re adding a new feature to an existing one, but want to give that feature every chance of landing with a bang? Product launches are a lot of things, including great learning opportunities. Tracking the right metrics at each stage of your product’s launch phase will show you how your launch is going and what you can do better next time. Janna Bastow dives into the key metrics behind a successful product launch, including what to track, when, and how each metric can help you understand exactly how successful the fruit of your labor has been.
(via ProdPad)

Becoming a Product Leader

BONUS: Register and attend this webinar, and receive a complimentary electronic copy of Build What Matters, by Ben Foster ($11.49 value)

BECOMING A PRODUCT LEADER

The thing very few people understand about product leadership is that the most essential skills aren’t even product skills. Anybody in the product organization can be a leader. But leadership isn’t a title. It’s a series of actions and behaviors that enhance influence and increase impact.

In this virtual fireside chat, we’ll dig in on Product Leadership with Ben Foster — a 25-year product veteran at places like eBay, Whoop, and elsewhere. Ben also teaches Product Leadership in his newly launched Product Leadership course through a collaboration between Product Collective and Gigantic.

We'll talk through:

• The major challenges that product people face when transitioning from product management to product leadership.
• Common traps and pitfalls that new product leaders often make and live through.
• What product people that aspire to transition into product leadership — or what new product leaders — can do in order to give themselves the biggest chance of success as a product leader.

Plus, we’ll answer questions of your own as well!