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This is interesting, because a product's story has a beginning, a middle, and an end. Just like they told us all stories have when we were at school. The data/metrics you care about aren't necessarily the same throughout all of that.. https://twitter.com/productschool/status/1286801084049170433
The beginning: setting the scene, character development, establishing the challenge your character will overcome.
You care about metrics that define the problem your product will ultimately solve. They derive insight. These will be different almost every time.
You care about metrics that define the problem your product will ultimately solve. They derive insight. These will be different almost every time.
For a problem we recently defined, they ended up being the following, for example:
* How frequently do people find answers to their questions before they make contact with a company?
* How frequently do they use features x, y, and z to accomplish that?
* How frequently do people find answers to their questions before they make contact with a company?
* How frequently do they use features x, y, and z to accomplish that?
* How frequently do they use channels a, b, and c to accomplish that?
* What are the differences in behaviour across all of those for different segments of customer and end user?
Etc etc
* What are the differences in behaviour across all of those for different segments of customer and end user?
Etc etc
The middle: your character's story arc, the obstacles it overcomes, its successes and failures.
All the metrics from the beginning remain important, but now we're looking to see if the product is impacting those.. plus some additional things, like:
* Does this impact adoption?
All the metrics from the beginning remain important, but now we're looking to see if the product is impacting those.. plus some additional things, like:
* Does this impact adoption?
* Does this impact regular usage? (Eg DAU, MAU etc)
* What's the business impact (eg. Revenue)?
* What's the impact on our support teams?
* Does this impact customer acquisition?
Etc etc
* What's the business impact (eg. Revenue)?
* What's the impact on our support teams?
* Does this impact customer acquisition?
Etc etc
The end: wrapping things up, tying off loose ends, closure.
With the benefit of time, we achieve closure by being able to look back on the story and see what was overcome/achieved. We might set ourselves up for a sequel.
* Did we achieve our goals?
With the benefit of time, we achieve closure by being able to look back on the story and see what was overcome/achieved. We might set ourselves up for a sequel.
* Did we achieve our goals?
* How did this impact retention and churn?
* What things prevented us from achieving those goals? How significantly?
* What things prevented us from achieving those goals? How significantly?
There's never really a silver bullet set of metrics to 'tell the story' of a product, even though one or two may appear frequently.
You have to do what all good writers do; think hard about what you're solving for, and choose the narrative elements that best tell the story.
You have to do what all good writers do; think hard about what you're solving for, and choose the narrative elements that best tell the story.
