Product Ops Assistant & Product Leader
Meet to discuss KPI needs. This could involve defining KPIs for a specific team or initiative or refining KPIs across the organization. Identify key stakeholders and gather relevant materials such as strategic objectives, cross-departmental goals and existing KPIs.
Consider KPI criteria: They must be measurable, reliable, relevant, specific, and comparable. The goal is to track success and identify areas needing improvement, helping to drive corrective actions. The KPIs you are looking to measure will depend on your goals.
Types of KPIs to consider:
- Product flows: Metrics that track how customers interact with your product (e.g., page views, bounce rates).
- Actionable value-based indicators: Leading indicators that demonstrate customer value from using your product (e.g., activation rates, conversion rates, retention rates, stickiness, referral rates).
- Customer satisfaction: Metrics that reflect customer sentiment (eg., Net Promoter Score (NPS)).
- Customer relationship funnels: Metrics that track customer progression through different stages of the journey (e.g., funnel completion rates).
- Customer lifetime value: Metrics quantifying your ability to attract new customers cost-effectively and retain them long enough to ensure profitability (eg., customer acquisition costs (CAC), churn rates, and customer lifetime value (LTV)).
Product Ops Assistant
Meet with each of the relevant stakeholders for an initial conversation to discuss their goals, challenges and pain points. Ask the stakeholders what success looks like for them. If you have a stakeholder map or tracking database (see our “Keeping track of key stakeholders and their interests” playbook), update this with the information you have gathered. This initial assessment can help you tailor the KPI workshop effectively.
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