How PMs can measure the success of their Product?

PM’s can assess the product’s health & financial feasibility by measuring the metrics divided into the below 5 buckets :

1. Product journey 🛣️
   → Are users successfully able to achieve their job with your product?
2. Actionable utility metrics ⚒️
   → What are the leading signals of user behavior that indicate they are deriving utility from your product?
3. User satisfaction 👥
   → Is your product able to satisfy users' expectations?
   → Areas where the product is excelling?
   → Areas where the product is lagging?
4. User connection metrics 🖇️
   → Is your product optimized across each user touchpoint in order to invoke positive feedback from the users?
5. Customer lifetime value (CLV) 💰
   → Is your product worth the financial viability of the business over the long term?

The below graph highlights the placement of the 5 buckets based on the impact generated by them vs the effort and complexity to measure and optimize the metrics.

In the next article, I will detail out metrics in each of the 5 buckets with the help of examples. Stay tuned 👀

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Do check out exclusive Product Management resources 👇

• The Ultimate List of 100+ Product Management tools 🛠https://rohitverma.gumroad.com/l/PM-tools
• The Ultimate List of Product Management Frameworks ⚙️
  https://rohitverma.gumroad.com/l/PM-frameworks
• The most exhaustive OKRs notion template 📔https://rohitverma.gumroad.com/l/OKR-Template