Key Metrics to track in a Software As A Service Product

User Engagement Metrics

• Daily Active Users (DAU): Number of unique users engaging with the product daily.

• Monthly Active Users (MAU): Number of unique users engaging with the product monthly.

• User Retention Rate: Percentage of users who continue to use the product over a set period.

• Churn Rate: Percentage of users who stop using the product over a set period.

• Session Duration: Average time users spend in a single session.

• Frequency of Use: How often users engage with the product (e.g., daily, weekly).

User Acquisition Metrics

• User Growth Rate: Speed at which new users sign up for the product.

• Cost Per Acquisition (CPA): Cost associated with acquiring a new user through marketing and advertising.

• Conversion Rate: Percentage of visitors or leads who become paying customers or active users.

Product Activation Metrics

• Onboarding Completion Rate: Percentage of users who complete the onboarding process.

• Time to First Value: Time it takes for a new user to experience the product's core value.

• Feature Adoption Rate: Percentage of users who adopt key features of the product.

User Retention and Loyalty Metrics

• Customer Lifetime Value (CLTV or LTV): Total revenue expected from a single customer account.

• Net Promoter Score (NPS): Measure of user satisfaction and loyalty, indicating the likelihood of users recommending the product.

• Cohort Analysis: Tracking groups of users over time to identify retention trends and behavioral changes.

User Engagement and Interaction Metrics

• User Activity: Actions users take within the product (e.g., clicks, shares, posts).

• Content Consumption: Amount of content users consume, such as articles read, videos watched, or items purchased.

• Social Engagement: Interaction metrics like likes, comments, shares, and mentions on social platforms.

Product Monetization Metrics

• Revenue: Total income generated from the product, including sales, subscriptions, and in-app purchases.

• Average Revenue Per User (ARPU): Average revenue generated per user.

• Revenue Growth Rate: Rate at which revenue is increasing over time.

• Recurring Revenue: Income expected to be generated regularly, such as subscription fees.

Product Performance and Reliability Metrics

• Load Time: Time it takes for the product or its features to load.

• Uptime: Percentage of time the product is operational and available to users.

• Error Rate: Frequency of errors or bugs encountered by users.

Customer Support Metrics

• Support Ticket Volume: Number of customer support requests received.

• Response Time: Average time it takes to respond to a support request.

• Resolution Time: Average time it takes to resolve a support request.

• Customer Satisfaction (CSAT): Ratings from users after interacting with customer support.

Product Quality Metrics

• Defect Density: Number of defects found in the product per unit size (e.g., per thousand lines of code).

• Test Coverage: Percentage of the product’s code or features covered by automated tests.

• Release Frequency: How often new updates or features are released.

Market Metrics

• Market Share: Percentage of the market that uses the product compared to competitors.

• Competitive Analysis: Metrics comparing your product's performance with competitors (e.g., feature parity, user satisfaction).

Tracking these metrics helps you understand how well your digital product is performing, identify areas for improvement, and make data-driven decisions to ensure long-term success.