Product Metrics Map: What It Is and How to Build It
If you ever joined a company as a Junior Analyst or had to start from scratch with analytics, you might remember how desperately your hands were shaking when a Product Manager asked:
“Can you analyze, how do customers use our product?”
At first, the simplicity and vagueness of this question made me spend hours on making up the approach to analysis, verifying, and restructuring it. It took me dozens of use cases to get the idea of a product metrics map and come up with a method to build it. So, this writing aims to bring a bit more clarity to your product analysis and save a few of your nerve cells.
If you try to break down the customer journey into steps, it may come out that in general customer has four stages of life in a product (depending on the product specifics, the number can vary):
- Onboarding
When a customer learns about your product value and completes all the steps to try it themselves.
Example: signing up for Canva and completing a simple onboarding tour about its features. - Activation
When a customer completed onboarding and tries out product features first time in their lifetime.
Example: adding the first friend on Facebook, subscribing to a Youtube channel. - Engagement
Duration…
