How to Answer: Metrics to Measure Success (Product Manager Interview Question)

🎯 Strategic thinking is crucial in understanding what success means in a product. 📈 Researching the company and its product is crucial for a successful product manager interview, even if you're not familiar with the product initially. 🚀 Not grounding the answer and why this product or feature matters to the company zoom out and think about why this product matters if it helps come up with a mission statement for the company and use that to help you understand how the product drives the company Mission. 📊 Product metrics are the things that users need to do in order to move the needle in the right direction, and it's important to break these steps down into key metrics. 📊 Prioritize the group that's the hardest to convince to use the app, as their satisfaction is crucial for the success of the entire marketplace. 💰 Knowing how much revenue each purchase generates can inform marketing and promotion strategies for retailers moving to an app-based experience. 🚧 Guardrail metrics act as a safeguard against over optimizing for a specific goal and prevent negative outcomes from happening that can result from focusing too heavily on a particular aspect of the product's performance. 🔍 Define a top level metric, cover each part of the in-product funnel, and tie together business metrics and guardrail metrics to provide a comprehensive measurement of success for a product.