Title: The 5 Key Measurements of Product Success | Hacker Noon
Headings: The 5 Key Measurements of Product Success
The 5 Key Measurements of Product Success
@ FirstMark FirstMark
Breadth of Use
Frequency of Use
Depth of Use
Efficiency
Satisfaction
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Content: At the end of the day, if a customer isn’t willing to recommend you, that isn’t success in the product world. You can turn a qualitative reaction like satisfaction into an actionable quantitative measure by leveraging customer surveys. Net Promoter Score (NPS) is widely used as an effective tool for measuring customer satisfaction. Todd recommends comparing your NPS against industry benchmarks offered by firms like Temkin. Which of the above metrics are most salient will depend on your product. Todd advises: “ It’s not that all five together are going to work for your product, but one or more of these five are likely leading indicators on whether your product is successful or not.” To hear Todd’s final takeaway for every company examining their product metrics, watch his talk: 7
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# startup # startup-lessons # product-management # entrepreneurship # analytics
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