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You cant create a great product without these 8 matrices

  

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Data and matrices are the eyes and ears of a product manager. here is the list of matrices that a product manager should have an eye upon. For better understanding, I have categorized them into two groups product is all about user acquisition, and once the user is on-boarded their engagement.

User Acquisition

  • User acquisition cost (UAC): This metric measures the money spent on acquiring new users. It is calculated by dividing the total cost of user acquisition (including advertising, promotions, and other marketing expenses) by the number of new users acquired. For example, if a company spends $10,000 on marketing and acquires 1,000 new users, the UAC is $10 per user. A Product Manager can use this metric to assess the effectiveness and efficiency of user acquisition strategies and optimize their marketing budget accordingly.
  • Rating and review score on app stores: This metric measures the average rating and review score of an app on app stores such as Apple App Store and Google Play. It can be an indicator of user satisfaction and engagement. For example, if an app has a high rating and many positive reviews, it may indicate that users find the app useful and engaging. A Product Manager can use this metric to monitor user sentiment and identify areas for improvement to enhance user experience and boost ratings and reviews.
  • Social media mentions or shares: This metric measures the number of times an app is mentioned or shared on social media platforms such as Twitter, Facebook, or Instagram. It can be an indicator of user engagement and brand awareness. For example, if an app is shared frequently on social media, it may indicate that users find it valuable and are more likely to recommend it to their friends and followers. A Product Manager can use this metric to assess the effectiveness of social media marketing campaigns and identify opportunities to increase brand awareness and user engagement.

User Engagement

  • Daily Active Users (DAUs): This metric measures the number of unique users who access an app daily. It can be an indicator of user engagement and product stickiness. For example, if an app has a high number of DAUs, it may indicate that users find the app useful and engaging and are likely to return to it frequently. A Product Manager can use this metric to assess user engagement and identify opportunities to increase user retention and product stickiness.
  • Monthly Active Users (MAUs): This metric measures the number of unique users who access an app each month. It can be an indicator of user engagement and product reach. For example, if an app has a high number of MAUs, it may indicate that users find the app valuable and are likely to use it frequently. A Product Manager can use this metric to assess user engagement and product reach and identify opportunities to increase user retention and acquisition.
  • User retention rate: This metric measures the percentage of users who return to an app after their initial use. It can be an indicator of user engagement and loyalty. For example, if an app has a high user retention rate, it may indicate that users find the app valuable and are likely to use it again in the future. A Product Manager can use this metric to assess user engagement and identify areas for improvement to increase user retention and loyalty.
  • User engagement rate: This metric measures the amount of time users spend interacting with an app. It can be an indicator of user engagement and satisfaction. For example, if an app has a high user engagement rate, it may indicate that users find it valuable and are likely to use it frequently. A Product Manager can use this metric to assess user engagement and identify areas for improvement to increase user satisfaction and engagement.
  • Average session length: This metric measures the average amount of time users spend on each session of an app. It can be an indicator of user engagement and satisfaction. For example, if an app has a high average session length, it may indicate that users find the app valuable and are likely to spend more time.

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