Title: Measuring the Value of Your Product | Phase2 Technology
Headings: Measuring the Value of Your Product
Measuring the Value of Your Product
Measuring Value by Profit
Measuring Value by Market Position
Measuring Value by Utility
Measuring Value through Customer Perception
Defining Value Collaboratively
Define Value Based on What Matters to You
Metrics to Start With
Revenue
Cost Savings
Customer Acquisition
Customer Retention
User Engagement
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Tags:
Application Development

Content: As a result, ensuring the accuracy of the value measure over time becomes more difficult. Define Value Based on What Matters to You
I have come to find there is no cookie cutter approach to measuring the value of a product. It very much depends on the organization, product, and the market the product serves. You need to invest the time to determine what metrics will help your organization demonstrate the value of your product, then come up with a measurement plan to guide how you track that value over time. Consider the following: There may be more than one metric that can demonstrate the value of your product. Though you may want to measure more than one, you don’t need to measure a laundry list of metrics to demonstrate value. Just focus on a few to start. Demonstrate your product’s value to both your business and its users. Neglecting one or the other will not give you a holistic view of your product’s place in the market.