What are the key metrics you use to measure the success of your product?

For Growth Hacking Kit this is number of sales

This is a such a good question because every organizations goals are so different. Not one organization will be tracking the same exact thing, because what one company may view as insightful the other may not. We are tracking, revenue, customer retention etc anything that has to do with growth and scaling.

Mostly Paid conversion & NPS. but there could be different metrics at different stages of the product/business. Like DAU, Avg connections per user (Social network).

It would be revenue but currently in free beta so will wait until payments is enabled

One of the key metrics you can also track is the how many mentions about your product you get on social media platforms like reddit and twitter on a daily basis. If people are naturally talking about your product in their posts or recommending it to their friends, that's a good sign of success.

Depends on the product. At 3veta we track metrics that revolve around customer acquisition and retention. For example, we measure user engagement and satisfaction, frequency of use, and financial performance. The more data you gather, the clearer picture you will get.

NPS & Churn. Let people put their money where their mouth is.

1. Sales and 2. Customer retention

The success of my products, CowTransfer.com and WorldofCreator.com, is measured using several key metrics. However, the primary metric I use to gauge the success of these products is the gross margin. This metric provides a clear understanding of the product's profitability and the effectiveness of the business model. The gross margin helps me determine the value that each user brings to the business and how much revenue is generated from their usage of the product. While metrics such as Daily Active Users (DAU) and Monthly Active Users (MAU) are important, they alone do not reflect the overall success of the business. It is essential to understand the profitability of the product and the value it generates for each user. Having millions of users does not necessarily mean success if the product does not have a solid business model and is not generating a profit. The focus should be on delivering value to the user and ensuring the product is profitable.

A thing that's always interesting to look at is how fast people get to the point of understanding the value of the product. I.e. how they move from just registering to performing an action that is required to complete a specific use case. Bulding that kind of funnel helps you understand if there is anything preventing them from seeing / trying what you actually want them to try and see the value.

For me it is user retention

Here is what works for me - 1. Free or Trial Sign Ups - How many people signed up for the free plan or trial 2. Sales - How many actually swiped their card to purchase. That's the hard one

Probably retention, usage, and high referral activity. If users stick, use your product and encourage others to do the same organically, you’re onto something I think 😁

This has my own company's metrics that we measure so you don't have to ready too much into it, but we list our metrics that we track as well as what we reccomend to our customers: https://drive.google.com/file/d/...

There is a cool article about the metric to actually measure your Product Market Fit: https://review.firstround.com/ho... Highly recommended!

1. Value for customer 2. Customer satisfaction

For me its retention, the ARR values and the L1&L2 tickets that are closed

In my case, it is the number of returning users and average spent time. Also, I found it quite difficult to correctly measure everything, because it seems like Google Analytics messes up some numbers quite often. There are a few resources that my fellow startup owners found, especially interesting regarding KPIs: 1. The 2023 OKR Guide - https://info.quantive.com/hubfs/... 2. Sales number guide - https://knowledgehunt.co/resourc... 3. Onboarding KPIs for SaaS - https://knowledgehunt.co/resourc... Hope it helps :)

DAU and customer retention rate for now.

Quantitatively conversion rate. Qualitatively organic reviews (more important to me