February 2012
Intermediate to advanced
235 pages
5h 47m
English
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Chapter 10. Get Ready to Measure
You need not only the ability to visualize your customer lifecycle, but also the ability to measure it.
The Need for Actionable Metrics
Even though the terrain before product/market fit is riddled with qualitative learning, you still need actionable metrics to be able to visualize and measure your customer lifecycle.
The objective before product/market fit is not as much about optimizing for conversion and all about quickly identifying and troubleshooting hot spots in your customer lifecycle.
Up until now, you have made a number of product decisions based on what customers have told you. It’s time to start measuring what they do.
What Is an Actionable Metric?
An actionable metric is one that ties specific and repeatable actions to observed results.
The opposite of actionable metrics are vanity metrics (like web hits or the number of downloads), which only serve to document the current state of the product but offer no insight (by themselves) into how you got there or what to do next.
A warning flag that indicates you might have a vanity metric on your hands is when the numbers don’t go anywhere but up and to the right every month.
Put another way, things like web hits or downloads are elements of subfunnels that make up the larger macro metric that matters, such as acquisition and activation.
It’s not what you measure, but how.
Understanding the difference between a vanity metric and a macro metric is the first step. In order to make your metrics actionable, ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.