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    2. How do you measure Product Analytics for your product ?

    How do you measure Product Analytics for your product ?

    Eren Gündüz
    5 replies
    📊 Product Analytics is the most significant assistant of the product teams in the decisions to be made about the product. 💫 As producter.co , we believe data should be considered in our every decision. In addition to this, we need to learn how these decisions affect our product. 🧩 There is no point in just looking at the metrics. It is also necessary to analyze these numbers, think about them, and discuss them. 💪 Each Saturday morning, Producter’s product team looks at the dashboards and makes decisions about the product. In addition, we analyze how previous weeks’ actions have affected the numbers. For more information about our product analytics process: https://blog.producter.co/how-we-use-product-analytics-in-producter/ --- We use 3 tools in Product Analytics. They are Heap, Metabase, and Hotjar. How is your product analytics process and which tools do you use for product analytics?

    Replies

    Merve Cankiz Coruh
    Productool
    Really curious about the answers 👀
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    Vishal Patel
    AskMiku
    AskMiku
    Product analytics are a set of metrics and methods used to measure the performance and effectiveness of a product. Measuring product analytics involves tracking key performance indicators (KPIs) that are specific to the product and the industry it operates in. Some common KPIs used to measure product analytics include: User engagement: This metric measures how often users are interacting with the product and how long they are spending using it. Retention rate: This metric measures the percentage of users who continue to use the product over time. Conversion rate: This metric measures the percentage of users who take a desired action, such as making a purchase or completing a sign-up form. Acquisition cost: This metric measures the cost of acquiring new users. Revenue: This metric measures the amount of money generated by the product. customer satisfaction: This metric measures the level of satisfaction of the customer using the product. To measure these KPIs, you can use various tools such as Google Analytics, Mixpanel, Amplitude, Heap, etc. These tools can provide valuable insights into how users are interacting with the product and how it is performing overall. These tools also provide the ability to segment data, track specific user behavior, and compare performance over time. It's important to note that different products have different KPIs, and it's essential to know what are the most important metric for your specific product, and track them accordingly.
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    Vishal Patel
    AskMiku
    AskMiku
    Measuring product analytics for a product involves tracking and analyzing various metrics to understand how users interact with and use the product. Some key metrics that are commonly used to measure product analytics include: User engagement: This includes metrics such as active users, session duration, and number of sessions per user. These metrics can help you understand how often and how long users are engaging with your product. Retention: This includes metrics such as cohort analysis, churn rate, and customer lifetime value. These metrics can help you understand how well your product is retaining users over time. Conversion: This includes metrics such as sign-up rate, purchase rate, and conversion rate. These metrics can help you understand how well your product is converting users into customers. Feature usage: This includes metrics such as feature adoption, feature usage frequency, and time spent in a feature. These metrics can help you understand which features are most popular, and how users are using them. Revenue: This includes metrics such as revenue, average order value, and lifetime value. These metrics can help you understand the financial performance of your product. It's important to note that the right metrics to track will depend on the specific product and the goals of the business. A key part of measuring product analytics is defining the goals and objectives of the product and then selecting the metrics that align with those goals to track over time and make data-driven decisions.
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    Amir Andohkosh
    AiAgent.app
    Thanks for sharing your process Eren! I follow a somewhat similar process to what you mention. We have a website and an app, with the app being the primary product. Each have slightly different tools, process, and goals for the metrics. For the website, I use Hotjar, Google Analytics, and cloudflare analytics - the aim is mainly traffic and SEO so that's what the focus is here. I tend to review the metrics every few weeks, except Marketing focused or when some SEO changes have been made where the data is checked more regularly. For the app, I'm using LogRocket right now - it's a nice all-in-one tool to get logs and get session recordings which I review every week at the latest. LogRocket is good enough for its uses but as we grow, we'll definitely be using more specialised tools. I'm very keen to hear about what others use for app product analysis!
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    Amelia
    I use https://usermaven.com/ for analyzing product analytics. It's simple and provides accurate real-time stats. Usermaven offers in-depth tracking features like pixel white-labeling, attribution, segmentation, event tracking, and a contacts hub. It provides effortless, no-code event tracking, from product insights to segmentation. It lets you analyze user journeys for informed decisions and effortless growth. It has a free version, and even the paid versions are reasonable, and you can choose a plan according to your business size and needs.
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