How PMs can measure the success of their Product — Tracking actionable utility metrics

The overall performance of the product can be measured by actionable utility metrics. Usually, Chief Product Officer owns the high-level metrics & tracks them on regular basis. The PMs who own the particular feature or module track the L2 metrics which measure the percentage of users who are exposed to the feature & achieve their goals.

The most common actionable utility metrics are :

  1. Activation Rate (%) ⏺️ — Activation rate measures the percentage of people who successfully complete a certain goal in the onboarding journey. The goal can be any event that increases the chance that the user will come back and continue using the product. For example, if 1Mn users are onboarded on Swiggy & 250K of them added items to the cart then the activation rate is 25 %.

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Product Manager @AngelOne, ex-@Flipkart, @Cleartrip. Interests: Product, Technology, Strategy, Startups, Fintech & E-commerce!