Measure the metrics that matter
identifying and tracking KPIs in product
Last week, we explored why a data-driven approach is essential in product management. Key Performance Indicators (KPIs) are at the heart of this approach—they’re our go-to metrics for tracking how well we’re meeting goals, engaging customers, and delivering real value. Yet with so many KPIs to choose from, it can be challenging to decide which ones matter most.
Every product is part of a larger business strategy. KPIs should be tied to overarching goals—whether it’s growing revenue, increasing acquisition, or improving efficiency. If the focus is revenue, then conversion rates, upsell numbers, and average order value should be the focus. If user acquisition is the priority, prioritize sign-up rates and acquisition costs. This way, everyone, from the developers to the C-suite, knows how their work impacts the bigger picture.
Having KPIs is one thing; tracking them consistently is another. Real-time data is critical for maintaining relevance. I lean on dashboards and automated tracking tools that make it easy to visualize where we’re at any given moment. Regular reporting (weekly or monthly) keeps us agile, letting us pivot quickly if the numbers reveal something unexpected. And real-time visuals mean you can spot trends faster and act on opportunities right away.
KPIs aren’t set in stone. As our products and markets shift, so should the KPIs we’re tracking. KPIs should be revisited regularly to ensure they reflect current goals and customer expectations. Iterating on these metrics keeps us aligned with the latest challenges and opportunities, giving us a competitive edge and a clearer path toward continuous improvement.
Which KPIs are driving your success? Share your top metrics and tag me on LinkedIn—let’s dive into what’s working and uncover new insights together!
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SC - great post, per usual. i find picking the right metrics to measure is second to having the right culture around metrics and the includes ownership and accountability around KPI's and other metrics. this is a huge miss with so many startups and needs to be reinforced with new Founders and CEO's, because 2nd time founders get it