How PMs can measure the success of their Product — Tearing down user connection metrics
You must be wondering how user connection metrics ( UCM ) are different from the product journey metrics introduced in the first article. Here are the key differences :
🔵 UCM focus on the user’s perspective completely;
🔵 It depicts & integrates deeply with the user life cycle stage;
🔵 It covers the entire horizon of the user connection with the product across various touchpoints over a longer duration of time.
Let’s analyze the different stages of the User journey funnel 👇
The majority of the PMs consider acquisition as their key goal however, that’s just the beginning of the user journey. A PM should ensure that users start using the product & deliver an amazing onboarding experience.
If the PM succeeds in retaining & delighting the engaged users, they are surely going to refer other users to the Awareness stage & create that viral loop.
A PM can deploy tools from its remarketing arsenal to target inactive users who have turned dormant over the period of time. It’s a great opportunity to win back them as they have a lower cost of acquisition as well.
The user journey funnel involves a path from awareness to loyalty. It gives an ability to micro-segments users into different levels which helps them to identify their relationship with the product. It further helps to zero in on the below areas :
🟢 Step or juncture of the funnel with maximum drop-offs.
🟢 The loose connections, poor UX flow, unclear CTAs serve as the hurdle for the user in proceeding to the next stage of its journey.
For instance, at the activation stage, there are 40% drop-offs & you are able to arrest that drop by 50% to 20% then you are successful in bringing the users one step closer to the next stage of engagement.
It further boils down to analyzing the cohort of the users depicting similar behaviors in terms of improved conversions or increased drop-offs & then graduating them to the next step of the user journey funnel.
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- The Ultimate List of 100+ Product Management tools 🛠https://rohitverma.gumroad.com/l/PM-tools
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https://rohitverma.gumroad.com/l/PM-frameworks - The most exhaustive OKRs notion template 📔https://rohitverma.gumroad.com/l/OKR-Template
