This week’s Sunday Rewind is a 2021 post from John Allen, then Director, Global SEO at RingCentral, on the importance of KPIs in tracking product success.
John runs through a number of performance indicators, explaining how to choose the correct ones to make informed decisions and providing examples.
He looks at: customer acquisition cost, conversion rate, session duration, adoption rate, traffic, net promoter score, customer retention rate, customer satisfaction rate and monthly recurring revenue.
He summarises: “When it comes to monitoring KPIs and their implications, communication is key to making decisions for upcoming strategies, setting goals, and identifying issues. In this case, digital collaboration tools can come in handy, as they help each team member to track metrics and stay up to date with the project’s progress.
Depending on the department or stakeholder group of a business, each can align its objectives to the according KPIs. Goals may vary from bringing in new target markets to increasing sales or coming up with new additions or elements for the given product."
Read the original post: Essential KPIs for data driven product managers
