Question
What are typical key performance indicators for a web product?
Answer
I assume you're familiar with Dave McClure's "Startup Metrics for Pirates"? If not, you should take a look.
http://www.slideshare.net/dmc500...
It's primary value is that it comes with the best backronym ever: AARRR!
It's what I've used on my projects, and what I recommend to others who are just getting started putting their analytics plumbing together. It represents the 20% process that covers 80% of the needs of 80% of startups (the other 20% weirdly unique products need homebrewed conceptual frameworks).
You should massage your commodity analytics (from Google Analytics say) plus product-specific ones (your definition of the second A, "activate" will almost certainly be product specific, based on a set of trigger events, rather than a commodity metric like repeat visits) into the AARRR framework.
Extremely product-specific KPIs should really only be used in response to specific diagnostic challenges. At the business level, it helps to abstract away from the product details for your operating analytics. When the AARRR instrumentation starts behaving weirdly, that's when you drill down into more localized metrics based on your product UX and start thinking hard about what's going on.
I like an AARRResque daily dashboard type email, and monthly dumps of raw data that lend themselves to some drilling.
AARRR! Happy KPIing me hearties!
http://www.slideshare.net/dmc500...
It's primary value is that it comes with the best backronym ever: AARRR!
- Acquisition
- Activation
- Retention
- Revenue
- Referral
It's what I've used on my projects, and what I recommend to others who are just getting started putting their analytics plumbing together. It represents the 20% process that covers 80% of the needs of 80% of startups (the other 20% weirdly unique products need homebrewed conceptual frameworks).
You should massage your commodity analytics (from Google Analytics say) plus product-specific ones (your definition of the second A, "activate" will almost certainly be product specific, based on a set of trigger events, rather than a commodity metric like repeat visits) into the AARRR framework.
Extremely product-specific KPIs should really only be used in response to specific diagnostic challenges. At the business level, it helps to abstract away from the product details for your operating analytics. When the AARRR instrumentation starts behaving weirdly, that's when you drill down into more localized metrics based on your product UX and start thinking hard about what's going on.
I like an AARRResque daily dashboard type email, and monthly dumps of raw data that lend themselves to some drilling.
AARRR! Happy KPIing me hearties!