Launching Products Right - Setting KPIs for MVPs
Moses Maurice Mugerwa
VP Operations at Jibu Inc. | Business Strategy, Operational Excellence, Marketing Strategy & Analytics | I Help Early-Stage Companies Optimize their Operations to achieve Over 80% of Their Growth and Revenue Goals
Very few people build MVPs (Minimum Viable Products) before mass launch...
I have been working with #Startups and this is a common problem.
Once you think about it, develop it, and launch it massively is a common syndrome.
The few people who are smart enough to deploy MVPs fail to have the right metrics for the #MVP
In this edition, I share a few metrics you can measure after deploying your MVP.
User Engagement
Active Users: Measure the number of users actively using your product within a specific time frame.
Session Duration: Monitor how much time users spend on your platform during each visit.
User Acquisition
User Sign-ups/Registrations: Track the number of new users registering for your product.
Conversion Rate: Measure the percentage of visitors who become registered users.
User Retention
Retention Rate: Analyze how many users continue to use your product over time.
Churn Rate: Identify the percentage of users who stop using the product within a given period.
Feedback and Satisfaction
Customer Feedback: Collect qualitative feedback through surveys, interviews, or reviews.
Net Promoter Score (NPS): Assess how likely users are to recommend your product to others.
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Feature Adoption
Feature Usage: Track the adoption of specific features within your MVP.
Most Used Features: Identify the functionalities that resonate most with users.
Conversion Metrics
Conversion Rate: If applicable, measure the percentage of users who complete a desired action (e.g., making a purchase, or upgrading their account).
Performance Metrics
Page Load Time: Monitor how quickly your application pages load.
Error Rates: Keep an eye on the frequency of errors or bugs reported by users.
Market Validation
Market Fit: Assess whether your product solves a real problem for your target audience.
Competitive Positioning: Evaluate how your product compares to existing solutions in the market.
Cost Metrics
Customer Acquisition Cost (CAC): Calculate the cost of acquiring each new customer.
Return on Investment (ROI): Assess the overall return on investment for your MVP launch.
My name is Moses Maurice Mugerwa, I help #StartUps launch and scale their products using proven data-driven strategies.
I have spent a great deal of my career working within Growth and Operations teams to scale products for start-ups.
DM and let's grow your product together.
Product Management Lead at FLIP Africa | Empowering economic participation of informal workers and FDPs in Africa
1 年Understanding your target audience through effective segmentation, creating user personas to comprehend their needs, and becoming passionate about solving the problem rather than just your MVP can propel you further toward achieving product-market fit. It's all about developing the right product efficiently and effectively. Think about MVP after doing your market research!!!
Founder Vision555 ADVISORY | Innovationprenuer | Projects Manager | Author Innovatively Leveraging Africa-Wide & Global Expertise to deliver Sustainable Growth Value to Enterprises and Organizations across Africa
1 年Moses Maurice Mugerwa Insightful share! I have often viewed MVPs as the needed ignition to take off! Question: what could the distinction be between an MVP and High ground offing?
Experienced HR Professional|Strategic Partner|Payroll Specialist|CV Writer
1 年Adding knowledge is always a great endeavor!! Thank you Moses Maurice Mugerwa