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Metrics for product managers tpma-feb2020
The document outlines the importance of metrics for product managers, detailing types of metrics to track such as user, customer service, business, and mobile metrics, among others. It highlights various analytical tools and frameworks that can guide product management, emphasizing the need for a holistic model to assess product health and success throughout the product lifecycle. The document serves as a guide for leveraging metrics to enhance product strategy, development, and market performance.
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Metrics for product managers tpma-feb2020
- 1. METRICS FOR PRODUCT MANAGERS SaeedKhan @saeedwkhan skhan@transformationlabs.io February 25, 2020 – TPMA USING METRICS TO DRIVE REPEATABLE PRODUCT SUCCESS
- 2. Transformation Labs We helporganizations accelerate their success by enabling highly effective product teams and team members through coaching, workshops and advisory services in areas such as: • Product Strategy & Roadmapping • New Product Research & Discovery • Organizational Assessment & Design • Positioning & Messaging • Win/Loss Analysis • Product Launch Contact me – skhan@transformationlabs.io
- 3. SAEED’S METRICS 23 6 16 45 450K 750M Years inProduct Management Years working in the US Products Managed Product Releases Kilometers of biz travel Revenue of products managed
- 4. I know whyyou're here. I know because I was once looking for the same thing. I was looking for an answer. It's the question that brought you here.
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- 6. METRICS ARE: • Quantifiablemeasures • Track, monitor and assess • Communicate progress • Tied to specific objectives
- 7. ATTRIBUTES OF METRICS •Quantitative, Qualitative
- 8. ATTRIBUTES OF METRICS •Quantitative, Qualitative • Analytic, Operational
- 9. ATTRIBUTES OF METRICS •Quantitative, Qualitative • Analytic, Operational • Lagging, Leading
- 10. ATTRIBUTES OF METRICS •Quantitative, Qualitative • Analytic, Operational • Lagging, Leading • Actionable, Vanity
- 11. ATTRIBUTES OF METRICS •Quantitative, Qualitative • Analytic, Operational • Lagging, Leading • Actionable, Vanity • Direct, Proxy
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- 14. User Metrics # ofSessions/User Session Duration Key Actions/Sessions # of New Users New Users/month User Growth Rate Customer Service # of Incoming Support Tickets Net Promoter Score (NPS) Ave. First Response Time Average Time to Close First Contact Resolution Rate Customer Satisfaction Rate Business Metrics Revenue per day/week/month Revenue Growth Rate Customer Lifetime Value (CLV) Customer Acquisition Cost (CAC) Ave. Revenue per Account (ARPA) Monthly Recurring Revenue (MRR) Annual Contract Value (ARR) Monthly Churn Rate Retention Rate Mobile Metrics Downloads Activations UnInstalls Daily Active Users Monthly Active Users Session Length Session Interval Ratings In-app Purchases Ecommerce Average Order Value Cart Abandonment Checkout Abandonment Ave. Shipping Cost Repeat Customers Visit/Sale Conversion Cost/Acquisition API Metrics API Calls / Day/Week Call Failure Rate Call Response Time Actions per day/week Uptime/Downtime Agile Metrics Sprint Burndown Rate Velocity Release Burnup Feature Cycle Time Missed Bugs/Defect Rate Failed Deployments Epic Burndown Defects/Story Funnel Metrics Product-Qualified Leads Qualified Lead Velocity Rate Organic vs. Paid Traffic ROI Viral Coefficient Conversion Rate to Customer
- 15. Metrics: • depend oncontext • Must define what, who, when etc. • imperfect indicators of what we want to achieve
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- 18. PRODUCT ANALYTICS TOOLS HE A P KISSmetrics
- 19. ANALYTICS PRODUCT STACK Attribution Wheredo your users come from? Aggregation Collect, standardize and share data Analysis Identify Insights from data Action Engage users based on insights H E A P
- 20. Tools: • Increase productivity •Require learning and process changes • Are imperfect for many situations
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- 23. Frameworks: • Provide structureand guidance • Must be applied appropriately for the given objective • Are imperfect models
- 24. ANALYTICS, METRICS, KPIS Analytics:analysis of (large) data sets to identify patterns, trends, & other insights Metrics: Quantifiable measures to track, communicate state of business processes KPIs: important (key) measures that track progress towards big (strategic) goals.
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- 27. 47.89 48.59 47.13 47.48 48.07 48.65 48.62 49.39 DATA (+AGGREGATED) 47.13, 47.48,48.07, 48.65, 48.62, 49.39 47.13oF, 47.48oF, 48.07oF, 48.65oF, 48.62oF, 49.39oF INFORMATION (+METADATA) INFORMATION (+CONTEXT) 1960s, 1970s, 1980s, 1990s, 2000s, 2010s 47.13oF, 47.48oF, 48.07oF, 48.65oF, 48.62oF, 49.39oF
- 28. VISUALIZATION – KNOWLEDGE Ave.Temperature Per Decade in Buffalo NY https://www.weather.gov/buf/BUFtemp
- 29. Ave. Temperature PerDecade in Buffalo NY https://www.weather.gov/buf/BUFtemp VISUALIZATION – KNOWLEDGE??
- 30. "You see thereis only one constant.…Causality. Action, reaction. Cause and effect.
- 31. ACTIONS OUTPUTS METRICSOBJECTIVES (CAUSE) (EFFECT)
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- 35. Product Lifecycle Objectives ObjectiveDescription Build it Nail it Scale it Extend it Milk it End it Build the first version of the product for specific use case(s) for a target market Identify & address barriers to wider adoption in your target market & prepare company for product growth – more than product/market fit Scale business (marketing/sales/services/operations etc.). Focus on expansion & new customer acquisition Move into new markets, segments, use cases etc. Growth in new customers & sales into existing base. Reduce investment but continue to market/sell with an eye on maximizing profits from customer base Remove all investment, stop actively marketing and eventually remove from market
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- 37. Product Lifecycle Metrics Asingle, holistic model to track product health and success across the product lifecycle.
- 38. 4 Independent Categoriesof Focus Business Organizational Readiness Go-To-Market Product
- 39. What is importantin each area? Business Corporate Objectives, Revenue, Pipeline, Win/Loss, Renewals, Pricing, etc. Organization Internal Training and Enablement (Sales, Support, Marketing etc.), Partners, Channels etc. Go To Market Positioning, Messaging, Lead Gen, Marketing Funnel, Sales Metrics, Collateral etc. Product Product Strategy, Capabilities, Roadmap, Quality, Performance, Stability, Gaps etc.
- 40. At each lifecyclestage, Product Management focus and objectives can be different!
- 41. Focus Areas vs.Lifecycle Objectives Build it Nail it Scale it Extend it Milk it End it Business Go-To-Market Organizational Readiness Product Focus Areas vs. Lifecycle Objectives Light Focus Medium Focus Heavy Focus
- 42. Focus Areas vs.Lifecycle Objectives Build it Nail it Scale it Extend it Milk it End it Business Go-To-Market Organizational Readiness Product Focus Areas vs. Lifecycle Objectives Light Focus Medium Focus Heavy Focus
- 43. Focus Areas vs.Lifecycle Objectives Build it Nail it Scale it Extend it Milk it End it Business Go-To-Market Organizational Readiness Product Focus Areas vs. Lifecycle Objectives Light Focus Medium Focus Heavy Focus
- 44. Focus Areas vs.Lifecycle Objectives Build it Nail it Scale it Extend it Milk it End it Business Go-To-Market Organizational Readiness Product Focus Areas vs. Lifecycle Objectives Light Focus Medium Focus Heavy Focus
- 45. Focus Areas vs.Lifecycle Objectives Build it Nail it Scale it Extend it Milk it End it Business Go-To-Market Organizational Readiness Product Focus Areas vs. Lifecycle Objectives Light Focus Medium Focus Heavy Focus
- 46. Focus Areas vs.Lifecycle Objectives Build it Nail it Scale it Extend it Milk it End it Business Go-To-Market Organizational Readiness Product Product is in 1 stage at a given time Light Focus Medium Focus Heavy Focus
- 47. Implementing the Model Whatquestions are important to answer for each focus area for the current stage of the product lifecycle i.e. the key business metrics
- 48. Sample Questions toAsk Business Organizational Readiness Go-To-Market Product • Are revenues meeting targets? • What does our current pipeline look like? • What does our deal trend look like? Up/Down? • What is our NPS? Is it increasing/decreasing? • Which pricing levels are performing to plan? • Which pricing levels are not? • Is our acquisition rate growing? • Is our retention solid?
- 49. Sample Questions toAsk Business Organizational Readiness Go-To-Market Product • Are our sales people & sales engineers trained on the latest product? • Are Marketing lead gen programs executing to plan? • Have our Services teams started engaging with customers on implementation? • What is the state of our Partner enablement program? • Is Customer Success fully trained on current version? • Is Customer Success meeting it’s targets for new customer implementation
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- 52. Product LifeCycle Metrics Acommon and holistic view of the key metrics for your product. A means to identify, communicate and proactively resolve issues
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- 54. Rich Mironov Saeed Khan Your FeedbackPlease 3 Questions 2 Minutes 1 Happy Speaker http://bit.ly/tpmametrics
- 55. Transformation Labs We helpstartups and larger organizations accelerate their success by enabling highly effective product teams and team members through coaching, workshops and advisory services in areas such as: • Product Strategy & Roadmapping • New Product Research & Discovery • Organizational Assessment & Design • Positioning & Messaging • Win/Loss Analysis • Product Launch Contact me – skhan@transformationlabs.io
- 56. METRICS FOR PRODUCT MANAGERS SaeedKhan @saeedwkhan skhan@transformationlabs.io February 25, 2020 – TPMA USING METRICS TO DRIVE REPEATABLE PRODUCT SUCCESS
Editor's Notes
- #2 https://www.wallpaperflare.com/city-view-photo-during-night-time-sydney-harbour-bridge-australia-wallpaper-472/1440x900
- #5 Sorry, a bit of a glitch here. Let me fix that. Any fans of the movie “The Matrix”? So what is the question that brought you here?
- #6 So what is a metric? Anyone have a definition?
- #15 So what’s the next question?
- #16 If you go online, you’ll find lots of articles that tell you exactly what metrics to track. Ignore them.
- #20 So what’s the next question?
- #21 Do you use any of these tools? What do you use them for? If not, why not?
- #22 Do you use any of these tools? What do you use them for? If not, why not?
- #26 So what’s the next question?
- #31 Do you use any of these tools? What do you use them for? If not, why not?
- #32 Do you use any of these tools? What do you use them for? If not, why not?
- #33 Do you use any of these tools? What do you use them for? If not, why not?
- #34 Do you use any of these tools? What do you use them for? If not, why not?
- #62 https://www.wallpaperflare.com/city-view-photo-during-night-time-sydney-harbour-bridge-australia-wallpaper-472/1440x900