In the Choosing the relevant product metrics (Part 1), we reviewed product metrics classification to distinguish performance and user experience as well as a fundamental approach building a metrics map which is aligned with business and team.
More growth and more experiments result in more metrics to follow. It is crucial to prioritize metrics and stay focused on the most important things especially when our creativity goes wild.
Priority 1 metrics
These are the highest priority metrics. Priority 1 metrics are the product growth main indicators. Though, with the pace of growth influencing key metrics is getting more difficult. When a product is new, such indicators can grow rapidly. It is essential to keep an eye on the highest priority metrics, but it makes no sense to expect their constant growth.
Priority 2 metrics
These are critical metrics but mainly reflect user experience. Priority 2 metrics not directly relate to product KPIs, but can have a substantial impact. Influencing priority 2 metrics is easier than the highest priority, but still challenging.
Priority 3 metrics
Priority 3 and below metrics can be classified as “micro metrics”. These metrics also describe user experience and behavior, but the product shouldn’t be too sensitive to the metrics fluctuations. These metrics are especially helpful in validating A/B tests which didn’t affect priority 1 and 2 metrics. The more micro metrics, the better. Though, every micro metric should be directly or indirectly, related to priority 2 metrics.
In conclusion, I’d like to say that metrics map is a versioned document. Product changes and experimentations is an ongoing process, and the metrics must evolve together with the product. As you can see there is no magic trick behind the metric prioritization, but rather simple logic. Although metric prioritization helps us to stay focused while being creatively pushing the product limits.
Source: awsmd.com
Author: Stan Nevedomsky
