How do you choose your growth goals?
Hey Guys,
Food for thought .. How do you typically choose your KPIs for your new product when you don't have anything to use as a reference?
For example if you have a new product/app/newsletter etc that is getting initial traction and good feedback, how do you choose what to focus on next and do you use to measure performance (arbitrary numbers)?
I usually prioritize metrics based on how much value I can deliver to my members.
The most critical information of Virtual Mojito is the no. of virtual experience products.
Hence I’d look into the no. of submission and products being listed.
If I don't have ANY data this is what I do:
This should be enough to start getting your first users coming in. Then talk with them, start measuring their behavior and their feedback within your product and you'll be able to make decisions with your own data and this includes choosing where to put your focus on.
I list down all the things that I can do, find the few with good impact that are possible to do given resources and time and try to do the.
@borjaprieto and @zeeshan_mm thanks for sharing your thoughts, that's pretty much what I'm doing.
I'm working on local app idea with friends that have no background in online biz which is a challenge a bit.
So We started by getting feedbacks on the MVP from different community whatsapp groups without explaining the idea and it went great.
Now I am listing my possible high impact desired outcomes and will go about testing one by one. I am also tracking most of the users actions on the app to get insights, learn from behavior and iterate. I assume the metric that will be the focus is the monthly actives (MAU) at the end.