A lot of our time as product managers are spent thinking about product metrics. In this Sunday Rewind episode however, we look back to #mtpcon San Francisco where Josh Elman guided us through the data noise to provide the only metric that matters.
Josh explains that we are all trying to build products that have an impact on our customers’ lives. He reminds us to focus on just one thing: are people using your product?
This sounds like a really simple question to answer, but even here there is complexity. Josh breaks down three key metrics to be able to answer that question: Your product purpose, core actions required to use your product, and frequency of use.
Once you have a sense of this key metric, it’s also important to understand who your best users—your core users—are. By doing this, you can then understand the behaviour required to become a core user. It helps you to focus your product experience on what matters—from onboarding to virality.
Watch this insightful talk in full. It’s packed full of examples and hard-earned experience, to learn how to understand your product’s metrics and core users. And remember, there isn’t one metric to rule them all, the metric that matters is unique to your product and company.