Dolphin Experience: Product Metric tracking for B2B / Internal products
Today product managers use a number of product metrics to quantify/measure success of a product. A B2C product can have varied metrics depending on the domain, target demographic, business vision, maturity of the product, etc.
On the other hand a B2B product or an internal product can be structured into a defined set of metrics where your weightage can be modified depending on the domain, target audience and product vision.
Basis research, we have identified product metrics vs time graph to follow a dolphin shaped pattern.
Let’s consider ideal metrics that a product manager tracks for an internal products and divide these metrics into a positive and negative factor. A positive factor affects the overall metric calculation in a positive way (higher the better). You can assign weightage as per your product vision and priorities.
A sample calculation is as shown below. Lets deep dive into columns in the below table:
- Actual Value: Basis data, rate each metric for the actual value out of 10. Example: If every feature is being used, you can assign Actual value for Adoption Rate as 10 whereas if only 5 of 10 features are being used, you can assign Actual value for Adoption Rate as 5.
- Weightage: Decide weightage depending on the type of product and product vision. Overall sum should of all cells in the column should be 1.
- Metric Value: Computation to assign a weighted value for each metric
- Final Value: Depending on the Metric value with the Factor (positive or negative) a final metric score is created.
Next if you track Final Value over a period of time (weekly or monthly), you would observe a Dolphin shaped pattern.
Note a hard stop is to be maintained for Reconciliation and training period.
If you have developed a B2B application or a product for internal stakeholders, do drop a comment and let’s track your metrics in detail.
