Why launch metrics must be assembled and ready to track prior to launch ?
- You can’t improve what you don’t measure
- Launch metrics are critical operational measures of how well the business is executing on the plans that were set down
- These should be laid out prior to launch and kept ready by means to track as soon as the product is launched
- These metrics must come across from all three business domains:
- Operations (Orders, Time related metrics)
- Sales (Dollar related metrics)
- Marketing (Awareness, Conversion etc type of metrics)
- A firm should not measure every metric out there rather the most relevant ones that would help the product leaders / executives get a pulse of progress.
- Product managers should track the launched of not only their own firm, but also other firms – for competitive activity
- As a product management professional your market focus is as broad as you want it to be, great insights can be gained by an analysis of metrics of competitors in terms of how to better compete with them.
A tracked way of measuring launches will help improve the areas where the launch might be weak on and thus decisions can be taken to invest in those areas to get launch back on track or improve.
Source: Haines, S. (n.d.). The Product Manager’s Desk Reference.