Sunday Rewind: Key experience indicators for product managers by Tomer Sharon

This week’s Sunday Rewind is a 2020 ProductTank New York talk from Tomer Sharon, then Head of User Research and Metrics at Goldman Sachs, in which he explains the principles and thinking behind key experience indicators (KEIs).

KEIs are quantitative scores for specific, important, and actionable phenomena related to using products or services. They are used after product launch and can be useful in helping teams move from launching products to landing them.

The principles of using KEIs are as follows:

Specific vs overall. Measure very specific things vs the overall satisfaction or engagement of a product.

In context vs out of context. Find the right people at the right time, in the right place.

Core vs perimeter. Only measure your core experiences.

The Google HEART framework focuses on happiness, engagement, adoption, retention and task success. Tomer uses this framework to provide some key metrics that product people should focus on.

• Happiness metrics to measure: the average satisfaction score and actual net promoter score.
• Engagement metrics to measure: percentage of people to use the product at least once in a particular time frame, actions per user and time between action.
• Adoption metrics to measure: adoption rate and time to first customer.
• Retention metrics to measure: retention rate, churn rate.
• Task success metrics to measure: success rate, time on task, lostness.

Watch the original talk: Key experience indicators for product managers by Tomer Sharon