@@productanalyticsacademy It would be great to see content around picking metrics, establishing goals and reviewing them for experiments at different stages of the product.
@@smaira2024 Thanks for the tips! I do have more videos on metrics selection and experiments in the main course that I offer on my site, but I'll think through which aspects of those I can summarize and publish as a separate video here
Yes, definitely! The Saas example given in the video matches what many subscription products look like, especially B2B ones. Remember that healthy product usage is what contributes to people converting to a paid subscription, as well as keeping their subscription for longer. If they onboard easily, activate well, and have high engagement, then that will lead to them keeping their subscription.
It seems there is some inconsistency at 10:59 with Retention metric. On the video it was said that we calculate users, but based on the formula on a slide we calculate animations.
It’s bad wording on my part cause I was trying to fit everything in one line. “Created animations” is shorthand for “user that created animations”. That’s why I’m the previous line I phrase it differently (“number of animations created”). In hindsight, this was a poor way of phrasing it in my part, you’re right to think what you thought
I am trying to apply this to a project where my goal is to measure reduction in time by automating a manual workflow. Would that be a focus metric? I'm not sure how to map my goal into this framework. Feels like that kind of KPI may not fall under this. eg. Today it takes a business user X hours to perform a manual task. After I launch my feature I expect it will reduct it by 90%. My feature can still have these metrics but I'm not sure how to use them to track this goal. Could you please help?
If you already have a metric in mind as your KPI, there’s no need to try and force it into this framework. This framework helps you put KPI’s in place when you don’t have any. Sounds like you already have a key KPI that you need to manage to: average (or median) time to conversion. Just set that as your goal and don’t worry about trying to use this framework. It will probably be helpful to track the overall conversion rate of the workflow as well, alongside the time to conversion
@@productanalyticsacademy thank you for your reply. I don't think I fully understand. When you say conversion rate and time to conversion for the automated workflow (new feature) are you referring to : conversion rate = #of activated users/ #of users exposed to feature? time to conversion = amount of time it takes an activated user to complete one or more key actions? Would the focus metric in this case still be DAU/MAU?
Can you also add a video for LTV CAC and also what is the key for determining success - For eg for new company, growth stage company and scale - what are the key results for the metrics we are looking for- for eg there should be a 70 perc retention rate for new companies - similar to this
For Engagement metric I would disagree with # of times a watcher has watched a video for instance. Instead I feel it should be x# of videos watched / watcher. Reason being that # of times could also be 1 time but that doesn't make for an Engaged user. What makes an 'Engaged' user is based on data analysis coming down to that magic # that beyond which we know the user doesn't quit our product
Hope you all enjoyed the video! If you want to learn more about product metrics, split testing, and analyzing product data, check out the Ultimate Product Analytics Course, offered on our site. bit.ly/3EnzD0v
This is the best video I have watched so far about product analytics
Wow this is very high praise, thank you! So happy to hear you’ve found it this helpful
Very clear explanation of the framework and helpful application in B2B and B2C. Glad I came across your channel. Thank you!
So great to hear that you found it helpful! Let me know if there are any other product analytics topics you would like me to cover
@@productanalyticsacademy It would be great to see content around picking metrics, establishing goals and reviewing them for experiments at different stages of the product.
@@smaira2024 Thanks for the tips! I do have more videos on metrics selection and experiments in the main course that I offer on my site, but I'll think through which aspects of those I can summarize and publish as a separate video here
@@productanalyticsacademy Thank you!
Brilliant, absolutely loving your clear and to the point content.
Much appreciated!
Thanks for the video! The examples were really helpful.
Glad you enjoyed it, thanks for watching!
This is awesome! Clearly explained and so easy to understand. Thank you so much.
You're very welcome!
Love love this video. Simple explanations with great and practical examples. Subscribed!
Thanks, glad it was helpful!
Great tutorial! Does this method work for subscription products as well?
Yes, definitely! The Saas example given in the video matches what many subscription products look like, especially B2B ones. Remember that healthy product usage is what contributes to people converting to a paid subscription, as well as keeping their subscription for longer.
If they onboard easily, activate well, and have high engagement, then that will lead to them keeping their subscription.
Great insight!
Such a great video 👍!
Glad you liked it!
It seems there is some inconsistency at 10:59 with Retention metric. On the video it was said that we calculate users, but based on the formula on a slide we calculate animations.
It’s bad wording on my part cause I was trying to fit everything in one line. “Created animations” is shorthand for “user that created animations”. That’s why I’m the previous line I phrase it differently (“number of animations created”).
In hindsight, this was a poor way of phrasing it in my part, you’re right to think what you thought
This is gold, keep up the good work!
Thanks so much!
Such a great video! ❤
Thank you!!
Bro You are awesome
BTW loved Your Course although Recommended to other Coworkers
Awesome, thank you!
Great video, thank you!
My pleasure!
I am trying to apply this to a project where my goal is to measure reduction in time by automating a manual workflow. Would that be a focus metric? I'm not sure how to map my goal into this framework. Feels like that kind of KPI may not fall under this.
eg. Today it takes a business user X hours to perform a manual task. After I launch my feature I expect it will reduct it by 90%. My feature can still have these metrics but I'm not sure how to use them to track this goal.
Could you please help?
If you already have a metric in mind as your KPI, there’s no need to try and force it into this framework. This framework helps you put KPI’s in place when you don’t have any.
Sounds like you already have a key KPI that you need to manage to: average (or median) time to conversion. Just set that as your goal and don’t worry about trying to use this framework.
It will probably be helpful to track the overall conversion rate of the workflow as well, alongside the time to conversion
@@productanalyticsacademy thank you for your reply. I don't think I fully understand. When you say conversion rate and time to conversion for the automated workflow (new feature) are you referring to :
conversion rate = #of activated users/ #of users exposed to feature?
time to conversion = amount of time it takes an activated user to complete one or more key actions?
Would the focus metric in this case still be DAU/MAU?
great
Thanks a lot bro
Can you also add a video for LTV CAC and also what is the key for determining success - For eg for new company, growth stage company and scale - what are the key results for the metrics we are looking for- for eg there should be a 70 perc retention rate for new companies - similar to this
Those are more so finance and marketing metrics, why is why they’re not as much the focus of this channel
For Engagement metric I would disagree with # of times a watcher has watched a video for instance. Instead I feel it should be x# of videos watched / watcher. Reason being that # of times could also be 1 time but that doesn't make for an Engaged user. What makes an 'Engaged' user is based on data analysis coming down to that magic # that beyond which we know the user doesn't quit our product
Yes that’s exactly what is said in the video as well. Listen to 14:30
Hope you all enjoyed the video! If you want to learn more about product metrics, split testing, and analyzing product data, check out the Ultimate Product Analytics Course, offered on our site. bit.ly/3EnzD0v
Great video @productanalyticsacademy !👌