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: Start by identifying the top five features used by your core audience. These are the “value drivers” that keep people coming back to your product. Todd says ideally you want clients to be using all of those key features. Pendo strives to have each customer use all five of the key features they’ve identified as core retention factors. Understanding your product’s key features can also help you keep your product successful. For instance, if your product uses a freemium model, but you are giving away the most popular features, it could result in users downgrading to the free version. Efficiency
Usability is key to retaining users and the ultimate goal of any product is the ability to use it easily, correctly and as quickly as possible. Efficiency may be the most important measurement of success. To measure efficiency, simply look for one or more key workflows in your product — anything from registration, to onboarding, to new feature activation — and measure how far users get in that workflow before dropping off. Establish meaningful completion goals for each workflow.