Webinar: Product KPIs & Metrics That Every PM Should Know by Zalando Sr PM, Zafeer Rais

Key Performance Indicators and Metrics for Product Managers 📊 KPIs and metrics are crucial for measuring performance over a given period of time and determining the importance of what we are trying to measure. 📊 KPIs are quantifiable measures of performance that demonstrate how effectively you are achieving your main strategic objectives. 📊 Daily active users and monthly active users are important metrics for generating revenue from a product or company. 📊 Understanding different types of MRR like new MRR, expansion MRR, contraction MRR, and net MRR is crucial for product managers to increase the MRR of a product. 💰 Customer Lifetime Value (CLTV) allows you to determine the amount of Revenue that can be generated from a user or account in the long run. 💰 Identifying the right customer acquisition channels is crucial for determining where to spend money, whether it's on social media campaigns, television, print media, or marketing schemes and discounts. 📊 Understanding the value of marketing spends on new customer acquisition complements other metrics and helps product managers make strategic decisions. 💸 A CLTV to CAC ratio of 5 is to 1 means that for every dollar spent on acquiring a customer, five dollars worth of business is generated. ⏱️ Session duration is a crucial metric for understanding user interaction and identifying areas for improvement in digital products. 📊 Customer retention rate is a key parameter to measure the stickiness of a product, with an average CRR for most software products being below 20% over a period of eight weeks. Importance of Data in Product Management 📊 Zafeer Rais emphasizes the importance of data for product managers: "If you're building a product without data, I wouldn't call it a product." 🛠️ Data is the combustion engine for product managers, and building a product without data is the biggest crime in product management.