Rules For Great Metrics
- Use retention as a way to assess your market-product fit, as it tells you how valuable the customers find your product after they stop using it.
- Understand the steps your customers have to take to get to your product, and if you can eliminate extra steps.
- Focus on key data, and do not waste time on unimportant metrics.
- Ask yourself what information you want from the customers to increase sales.
- Understand the metric goals clearly, not just on face value.
- Use counter-metrics to stress-test your figures.
- Pair your hard data with qualitative research like usability testing, focus groups and surveys.
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Don't think you can continue to relate to your customer. Instead, make a list of the outcomes you want, then make a guess what will get you there based on data and research.
- If you don't have the volume of data, start with qualitative feedback from user surveys or testing.*
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