Product Metrics Pyramid
Posted: Sun Dec 22, 2024 7:20 am
Different aspects of product metrics can serve as examples of interest: how satisfied is the user, what is the revenue, profit, conversion, number of users joining, time of use of the product.
A unique concept was developed that works within the framework of product management. This is the so-called pyramid, with the help of which it is possible to define key product metrics how to add taiwan number on whatsapp and options for their use for assessing quality and productivity. This scheme does not have a clear structure, because its structure may depend on what the organization's goals are, what the value of the products is, and other indicators. In fact, it is somewhat reminiscent of the well-known Maslow's pyramid. And it works on the same principle: if you want to reach the top point, start from the first step.
Marketing Metrics Level
Here it is determined how the channels work, how successful or unsuccessful the advertising integrations are. And all this can be calculated using the site's product metrics, which are called CTR (Click Through Rate) - the clickability indicator, that is, the ratio of the number of clicks on the ad and the number of its impressions. It is measured in percentages.
Marketing Metrics Level
Source : shutterstock.com
Another type is CPA (Cost Per Action). Literally, this means "cost per action". It sets a certain price for a click, transition, call or any other target event. Marketers help to compile such metrics. And here there may not be a number of products that relate, for example, to technical, internal or corporate ones.
Quality Metrics Level
They are numeric indicators. Professionals use them to measure the quality of the service or project offered. They can be used to determine whether the product meets quality standards or what the client wants.
It is important to know that such metrics are used at every stage of a product’s life: from conception and design to creation and delivery to the end user.
What are the types of product metrics:
Time . Attention is paid to the period spent on completing a task. This metric is often used to evaluate how well the work is done and how well the processes are structured.
Errors . Defects made during the creation/production of a product. An error can be any defect that prevents the product from functioning properly.
Customer satisfaction. This is how satisfied the customer is with what the company does: the service or the product. Measurements are made by interviewing customers.
Failures : This is how often a product fails to deliver the expected results or performs as advertised.
Returns : The percentage of the product/service that the customer returns due to a defect.
Defect Rate: An assessment of business processes that could lead to defects or failure.
KPI – coefficient of repeated use . The calculation is based on how many times the product has been used relative to its total operating time.
Using the listed product metrics, you will be able to evaluate the quality of the service/product being produced. This will also help determine if there are any problems, how to improve processes and increase customer satisfaction.
A unique concept was developed that works within the framework of product management. This is the so-called pyramid, with the help of which it is possible to define key product metrics how to add taiwan number on whatsapp and options for their use for assessing quality and productivity. This scheme does not have a clear structure, because its structure may depend on what the organization's goals are, what the value of the products is, and other indicators. In fact, it is somewhat reminiscent of the well-known Maslow's pyramid. And it works on the same principle: if you want to reach the top point, start from the first step.
Marketing Metrics Level
Here it is determined how the channels work, how successful or unsuccessful the advertising integrations are. And all this can be calculated using the site's product metrics, which are called CTR (Click Through Rate) - the clickability indicator, that is, the ratio of the number of clicks on the ad and the number of its impressions. It is measured in percentages.
Marketing Metrics Level
Source : shutterstock.com
Another type is CPA (Cost Per Action). Literally, this means "cost per action". It sets a certain price for a click, transition, call or any other target event. Marketers help to compile such metrics. And here there may not be a number of products that relate, for example, to technical, internal or corporate ones.
Quality Metrics Level
They are numeric indicators. Professionals use them to measure the quality of the service or project offered. They can be used to determine whether the product meets quality standards or what the client wants.
It is important to know that such metrics are used at every stage of a product’s life: from conception and design to creation and delivery to the end user.
What are the types of product metrics:
Time . Attention is paid to the period spent on completing a task. This metric is often used to evaluate how well the work is done and how well the processes are structured.
Errors . Defects made during the creation/production of a product. An error can be any defect that prevents the product from functioning properly.
Customer satisfaction. This is how satisfied the customer is with what the company does: the service or the product. Measurements are made by interviewing customers.
Failures : This is how often a product fails to deliver the expected results or performs as advertised.
Returns : The percentage of the product/service that the customer returns due to a defect.
Defect Rate: An assessment of business processes that could lead to defects or failure.
KPI – coefficient of repeated use . The calculation is based on how many times the product has been used relative to its total operating time.
Using the listed product metrics, you will be able to evaluate the quality of the service/product being produced. This will also help determine if there are any problems, how to improve processes and increase customer satisfaction.