Product Café: Why are Product Metrics useful after all?
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Product Café: Why are Product Metrics useful after all?
Management, UX, Startups, and more — freshly curated by Zeda.io.
Sunday Eve is here!🥤
Do you know what that means?
It’s time for me, Mahima; to catch you guys up on the latest edition of ProductCafe where we curate some of the best content on product management, business, and product-led growth. 📩
Google’s Heart Framework for Product Metrics
HEART🤍 framework is based upon 5 metrics: Happiness, Engagement, Adoption, Retention, and Task Success.
Image credits: https://medium.com/@rohitverma141/googles-heart-framework-for-product-metrics-8b23356f593d
These set of metrics are quite helpful in decision making during the product development process.!🕺
Happiness 🤩
Information gathered through surveys, customer ratings and reviews on the Playstore, or the TPS/ NPS illustrates the ease of use and happiness derived by the user through engagement with your product.
Engagement 👥
Engagement is assessed using numerous metrics such as the amount of time users spend on the app, the number of visits per user, the conversion rate, and so on. It assesses the amount to which consumers' attention is invested in the product.
Adoption💪🏻
As an app PM, you will keep track of the number of new users who have installed your app, signed up, and logged in successfully. This enables the product to assess the consumers' interest in your product and how that may be improved further by measuring Adoption indicators.
Retention👀
Retention metrics are the secret sauce to your product's success. The number of people that remain active and engage with your product on a continuous basis defines the value proposition of your products.
Task Success🎖️
Users respect your product because it allows them to accomplish their goals and challenging tasks. This measure can provide objectivity to the process by monitoring Error Rate, Failure Rate, and APR (App Not Responding) Rate. It also assesses the task's efficacy and efficiency.
Product Metric; Comic Strip😆🚀
Credits: https://twitter.com/shippingtmrw
Podcast choice of the week🎙️
How To Think About, Set & Track Product Metrics (Plus The Biggest Pitfalls To Avoid) with Reforge's Dan Wolchonok
In this episode of Growth, they talk about how to approach historical data and data tracking, how to pick reporting tools, and who should own analytics. Then Matt and Dan go deeper and talk through the thing that separates the top one percent of the companies from the rest – good retention. Listen to the full episode.
Tweets worth mentioning 🐦
Rounding off here👋🏼.
Do you feel something is missing? We are all ears👂🏼. Share your feedback in the comments. We’ll get at it in a jiffy. Let the weekend therapy begin.🥂
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