Defining Product Metrics
Explore how to define and apply product metrics that measure various stages of the customer journey for API products. Understand discovery, engagement, activation, acquisition, retention, and experience metrics to evaluate API performance and guide product decisions. Learn to identify the North Star metric to align with business goals and use data for effective product strategy and stakeholder communication.
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Product metrics are used to figure out how well a product is doing by measuring different parts of the customer journey and comparing them to the product strategy. Product metrics enable us to identify opportunities for product development, establish a baseline, and evaluate results as we make changes to the overall product experience. To accomplish this, product metrics measure various aspects of the customer journey, including discovery, engagement, activation, acquisition, retention, and experience.
We can use the developer journey to map the steps of the developer journey to various metrics we can measure at each step as customers go through them. We can see this framework in the following illustration.
As customers ...