Categories of KPIs in Product Management
Here are the following Categories of KPIs in Product Management:
Categories of KPIs in Product Management
1. Acquisition KPIs:
Measure the effectiveness of efforts to bring new users to the product.
- Cost per acquisition (CPA): Cost spent on acquiring one customer (marketing, ads, etc.).
- Customer acquisition cost (CAC): Average cost to acquire a customer across all marketing channels.
- Conversion rate: Percentage of website visitors who become users.
- Sign-up rate: Number of new users signing up per period.
- Marketing campaign performance: Metrics like impressions, clicks, and conversions for specific campaigns.
2. Engagement KPIs:
Assess how actively users interact with the product.
- Daily active users (DAU): Number of users using the product on a given day.
- Monthly active users (MAU): Number of users using the product in a month.
- Average session duration: Time users spend on average in each session.
- Feature adoption rate: Percentage of users using specific features.
- Number of actions taken per user: Frequency of users performing key actions (e.g., purchases, comments).
3. Monetization KPIs:
Evaluate how well the product generates revenue.
- Average revenue per user (ARPU): Average revenue generated per user in a specific period.
- Churn rate: Percentage of users who stop using the product within a period.
- Lifetime value (LTV): Total revenue expected from a user throughout their relationship with the product.
- Conversion rate for paid features: Percentage of users who subscribe to paid plans or purchase in-app items.
- Subscription renewal rate: Percentage of subscribed users who renew their subscriptions
4. Product Development KPIs:
Track the efficiency and effectiveness of the product development process.
- Release velocity: Frequency of new feature releases or product updates.
- Defect rate: Number of bugs or errors encountered per unit of development work.
- Time to market: Time taken to launch a new product or feature.
- Net promoter score (NPS) for the development team: Feedback from internal stakeholders on the development process.
- Bug resolution rate: Time taken to identify and fix bugs.
5. Operational KPIs:
Monitor the technical health and support experience of the product.
- Uptime and performance: Availability and response time of the product.
- Customer support response time: Average time taken to reply to customer queries.
- Employee satisfaction score: Feedback from internal teams involved in product management and development.
What is a KPI (Key Performance Indicator) in product management?
KPIs, or key performance indicators, are road maps in the field of product management. These are numerical assessments that monitor your product’s development and performance in relation to its predetermined objectives. Consider them your compass, providing you with ongoing guidance and assurance that you are heading in the correct direction.
A Key Performance Indicator (KPI) in product management is a measurable metric that aids in monitoring a product’s success and directs strategic choices. Consider it a compass that guides you toward the intended results for your product.
KPI (Key Performance Indicator) in product management
Table of Content
- What is KPI in Product Management?
- How KPI’s Work in Product Management?
- Product Management KPIs Define Performance
- Categories of KPIs in Product Management
- When to Use Which KPIs?
- KPIs(Key Performance Indicators) Vs OKRs(Objectives and Key Results)
- How to effectively track product management KPIs
- How KPIs Enhance Cross-Functional Collaboration in Product Management?
- Some other types of KPIs
- Conclusion: KPI (Key Performance Indicator) in product management
- KPI (Key Performance Indicator) in Product Management – FAQs