Most Important Product Metrics
We write a lot about product metrics and things to track with product operations, but today I heard Ken Surdan talk about the simple things every product leader should know.
How many customers do you have?
How long do they stay?
How much do they pay?
Ideally, if you have a portfolio you’d know each of these metrics by product and other relevant segmentation to your company such as geographic or customer size diversity, but I thought this was a solid starting ground for most conversations. You may also notice that #2 and #3 are a nod to retention/churn numbers, ASP and LTV. I enjoy that he puts it into practical terms so that you can focus on ensuring you are maximizing what you can get out of each of customer.
Tami Reiss is the SVP of Product Strategy at ProduxLabs and the CPO in Residence at Insight Partners. She writes about how Product Leaders can do more to focus on what’s important for a company’s growth and streamline internal processes to yield results. You can follow her on Medium or @tamireiss on Twitter.
