{"id":80222,"date":"2023-03-28T14:15:16","date_gmt":"2023-03-28T13:15:16","guid":{"rendered":"https:\/\/www.prodpad.com\/?p=80222"},"modified":"2025-01-13T16:25:11","modified_gmt":"2025-01-13T16:25:11","slug":"product-launch-metrics","status":"publish","type":"post","link":"https:\/\/www.prodpad.com\/blog\/product-launch-metrics\/","title":{"rendered":"19 Product Launch Metrics You Need To Be Tracking"},"content":{"rendered":"\n

Getting ready to launch your product to the world? Or maybe you\u2019re adding a new feature to an existing one, but want to give that feature every chance of landing with a bang?

Product launches are tricky<\/a>, time-consuming, stressful, and exciting all at the same time.

What\u2019s important to remember, though, is that they\u2019re also great learning opportunities \u2013 and that tracking the right metrics at each stage of your product\u2019s launch phase will show you two really important things:<\/p>\n\n\n\n

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  1. How the launch is actually going<\/li>\n\n\n\n
  2. What you can do better next time<\/li>\n<\/ol>\n\n\n\n

    That\u2019s exactly why, in this piece, we\u2019ll be taking a meaty dive into the key metrics behind a successful product launch. That\u2019s what to track, when, and how each metric can help you understand exactly how successful the fruit of your labor has been.

    But first, let\u2019s go over a few basics\u2026<\/p>\n\n\n\n

    What are product launch metrics?<\/h2>\n\n\n\n

    Product launch metrics are key performance indicators (KPIs) that speak to the success of the various stages of your launch. Like all metrics, they\u2019re indicators that things are hitting your desired targets, exceeding expectations, or falling short.

    With product launches in particular, metrics are barometers for both real-time performance and \u2013 after the fact \u2013 a way to see how strong a given rollout was overall.

    A word of warning, though: while tracking metrics as part of a KPI and OKR (objectives and key results) program is a crucial part of product management, it\u2019s easy to get bogged down in the wrong things. It\u2019s helpful to understand what\u2019s important and what\u2019s just noise, and to ensure that you\u2019re not obsessing over metrics that aren\u2019t really relevant for the launch phase of the product lifecycle.<\/p>\n\n\n\n

    Why are product launch metrics important?<\/h2>\n\n\n\n

    When we\u2019re talking about tracking product launch metrics, we\u2019re really discussing OKRs. Setting intelligent objectives \u2013 and understanding how to accurately track your progress towards them \u2013 is important at any stage of the product lifecycle, but especially so at the point of launch.

    That means capturing metrics but also having realistic targets in mind for them.

    OKRs drive success, too. According to     Mooncamp<\/a>, some 83% of companies that use the OKR framework think they\u2019ve had a positive effect on their business. Sears Holding Company<\/a>, meanwhile, has found that consistently setting and tracking OKRs can increase business performance by 11.5%.

    Stats are great and all, but if you take only one thing away from this, make it this: metrics are your KPIs, KPIs inform OKRs, and OKRs are how you\u2019ll drive success or learn from failures.<\/p>\n\n\n\n

    Why do product launches fail?<\/h2>\n\n\n\n

    For a bunch of reasons! Poor planning, half-assed market research, lack of strategy in marketing and comms, or launching with bugs and technical issues will all see you limping out of the gates with a product that fails to set the world on fire.

    Due diligence is the key, specifically in three areas:<\/p>\n\n\n\n

    Market fit<\/h3>\n\n\n\n

    You need to put in the effort here otherwise you run the risk of launching a product into a world that doesn\u2019t really need it. Product and market discovery<\/a> is how you\u2019ll ensure that your product solves a real need that currently isn\u2019t being serviced.<\/p>\n\n\n\n

    Technical QA<\/h3>\n\n\n\n

    Releasing a buggy product to the public is a great way to ruin what could otherwise have been a fantastic launch. Thorough testing, internal launches, and soft launches will help you spot and squash bugs before they have a chance to reach a wider audience.<\/p>\n\n\n\n

    Marketing<\/h3>\n\n\n\n

    Seems obvious, but you\u2019ve really got to have a plan here. A unified strategy that hits every relevant channel is vital \u2013 as is building out a marketing calendar that continues to bang the drum long after the initial launch.<\/p>\n\n\n

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    \"Measure<\/figure>\n<\/div>\n\n\n

    Tracking the right product launch metrics<\/h2>\n\n\n\n

    So, here\u2019s how this is gonna work: we have this post over here<\/a> that acts as a full checklist of everything you need to do when launching a product. It\u2019s a great framework for any product managers out there to work through and build out your product launch strategy, but it\u2019s also perfect as a jumping-off point for us to talk about metrics here.<\/p>\n\n\n\n