Product Collective - Tracking product metrics that matter
Tracking metrics that matterWhen we talk about metrics that matter, we’re talking about those numbers that help you make decisions about your product. The bit about “help you make decisions about your product” is key. It’s one thing to instrument up your product to record a lot of data. It’s another thing to use that data to arrive at insights and guide your product actions. The resources we share this week help you do the latter. Meanwhile in product news, more layoffs of product and technology folks, a big fine, a big service outage with some schadenfreude, and a developer platform introducing an AI feature. History may not repeat itself, but it often rhymes. Metrics that matter: what a consumer VC looks for in a start-up’s numbers. Spoiler alert: all metrics matter. They help build a rich tapestry of the company’s health today and in the future. Taos Edmondson explains why all metrics matter, and what all those metrics are. Creating metrics that matter. Product managers love to create metrics, however, many product teams still get these wrong, resulting in a lot of churn that generates no meaningful improvement to customer experience and business outputs. Since there is so much already written on the different metrics, Kapil Khosla focused on the common pitfalls that lead to ineffective metrics and a simple framework you can use for your North Star metrics. Continues below... This Week’s VideoHelp your company thrive with Survival Metrics. The product strategy you made at the end of 2019 didn’t work. The events of 2020 most likely invalidated it. As our industry and society had to adapt to new circumstances, the importance of flexibility has become clear. Given the landmines that often exist, changing projects isn’t just a switch you can flip. Product teams often know that a project needs to change direction, but they don’t have a way to make that change safely and quickly. In this presentation from INDUSTRY Virtual Spring 2021, Adam Thomas explains how survival metrics empower them to do just that. This video, and many more just like it, are available on our Member Hub. If you don’t have access to the Member Hub already, you can join the community today for free. Dashboard Metrics Imagine you’re driving down a country road with the sun starting to set off in the distance against a clear blue sky. You glance down at the dashboard – and can immediately track the essentials: you know how much gas is in the tank, you can see how fast you’re going, and you feel confident knowing that there aren’t any warning lights flashing on. Now think about what it’s like to manage your product right now. Do you have metrics in place that are just as simple – and just as actionable – as when you glance above your steering wheel when you’re inside your car? Maybe it can’t be that easy – but you get the point. If the metrics you have in place are overly complex and are providing data that you can’t take action on – or even worse, if you don’t even really have true metrics that you’re tracking – you’re essentially driving blind. Your product's 'dashboard' needs to show you the good stuff at a glance - like how engaged your users are, if they're buying what you're selling, how happy they are, and if they're sticking around. What’s most important is keeping it simple – as having too many irrelevant metrics just gets in the way. Imagine if you were trying to find out if you were running out of gas when you were driving, but couldn’t find out because there were thousands of different other measurements clogging up your dashboard. So remember – if your current metrics aren't cutting it, it might be time for a little spring cleaning. The right metrics can make navigating your product's journey a breeze, rather than a frantic scramble. Smooth driving out there!
Prices increase on April 1st! The New York Product Conference (a Product Collective/INDUSTRY event) returns to the Times Center in Manhattan on April 18th for a packed day of:
BONUS: Purchase a Plus Pass or Superpass, and get access to a half-day workshop on April 17th (Influencing Without Authority) and/or access to online training programs. Register before February 1st to save $200 off of our day-of-show rate – no code required! Bringing a group? Reply to this email and you could save even more. Metrics that matter: a guide to measuring the success of your growth hacking initiatives. Growth hacking can fuel rapid expansion, but how do you know if your efforts are working? The key lies in meticulous measurement. Mari Luukkainen explores the metrics that matter to evaluate the success of your growth hacking initiatives effectively. Deep-dive: Metrics that matter. Mike Belsito dives into the sophisticated yet practical approaches for measuring metrics that matter. By understanding the evolution of these metric frameworks and their pivotal role in steering product development and strategy, we equip ourselves with the tools necessary to make informed decisions that align with our overarching goals of delivering value to users and achieving sustainable growth. Resources and news curated by Kent J. McDonald. |
Older messages
Exclusive member special for INDUSTRY Virtual (May 2nd)
Thursday, March 7, 2024
We're soon announcing our upcoming Spring Virtual edition of INDUSTRY: The Product Conference on May 2nd. It's a daylong interactive experience that you can enjoy from your home or office
Deepdive – Metrics that Matter for Product Managers
Monday, March 4, 2024
Metrics serve as the foundational elements that guide strategy, inform decisions, and drive success. After all, you can't manage what you can't measure. Yet, as the discipline of product
With great ideation comes great responsibility
Friday, March 1, 2024
With great ideation comes great responsibility It's great fun to come up with a lot of different ideas that your product team can build. But when you practice that sort of ideation without
You're invited – product metrics, experiments & sense
Thursday, February 29, 2024
Metrics that Matter in Product Experimentation Metrics that Matter in Product Experimentation Wednesday, March 6th @ 01:00 PM EST Join this virtual fireside chat as we unravel the pivotal metrics that
Last chance! Free 1/2 day workshop in NYC: Influencing without authority
Wednesday, February 28, 2024
Anybody who registers for a Main Conference pass for the New York Product Conference this month will also get invited to a half-day Workshop.
You Might Also Like
Daily Coding Problem: Problem #1616 [Easy]
Friday, November 22, 2024
Daily Coding Problem Good morning! Here's your coding interview problem for today. This problem was asked by Alibaba. Given an even number (greater than 2), return two prime numbers whose sum will
The problem to solve
Friday, November 22, 2024
Use problem framing to define the problem to solve This week, Tom Parson and Krishna Raha share tools and frameworks to identify and address challenges effectively, while Voltage Control highlights
Issue #568: Random mazes, train clock, and ReKill
Friday, November 22, 2024
View this email in your browser Issue #568 - November 22nd 2024 Weekly newsletter about Web Game Development. If you have anything you want to share with our community please let me know by replying to
Whats Next for AI: Interpreting Anthropic CEOs Vision
Friday, November 22, 2024
Top Tech Content sent at Noon! How the world collects web data Read this email in your browser How are you, @newsletterest1? 🪐 What's happening in tech today, November 22, 2024? The HackerNoon
iOS Cocoa Treats
Friday, November 22, 2024
View in browser Hello, you're reading Infinum iOS Cocoa Treats, bringing you the latest iOS related news straight to your inbox every week. Using the SwiftUI ImageRenderer The SwiftUI ImageRenderer
iOS Dev Weekly - Issue 688
Friday, November 22, 2024
How do you get an app featured on the App Store? There's a new process, and it's great! 📝 View on the Web Archives ISSUE 688 November 22nd 2024 Comment Every developer, from solo indie devs to
Why Nvidia's CEO loves NotebookLM
Friday, November 22, 2024
I love my Alexa-enabled microwave; Best early Black Friday deals -- ZDNET ZDNET Tech Today - US November 22, 2024 Jensen Huang Even Nvidia's CEO is obsessed with Google's NotebookLM AI tool
Digest #151: Uber’s Migration, Terraform Tips, AMI Creation, and Helm Chart Scanning
Friday, November 22, 2024
Learn zero-downtime migration techniques, improve testing workflows, and master AMI creation. Plus, explore Terraform tools, Helm chart validation, and debugging AWS EC2 issues. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
SWLW #626: AI makes Tech Debt more expensive, The problem with most L&D strategies, and more.
Friday, November 22, 2024
Weekly articles & videos about people, culture and leadership: everything you need to design the org that makes the product. A weekly newsletter by Oren Ellenbogen with the best content I found
Warning: Over 2,000 Palo Alto Networks Devices Hacked in Ongoing Attack Campaign
Friday, November 22, 2024
THN Daily Updates Newsletter cover Generative AI For Dummies ($18.00 Value) FREE for a Limited Time Generate a personal assistant with generative AI Download Now Sponsored LATEST NEWS Nov 22, 2024