What is AARRR Pirate Metrics? AARRR Pirate Metrics framework is an acronym for a set of five user-behavior metrics that product-led growth businesses should be tracking: acquisition, activation, retention, referral, and revenue. Acquisition (or awareness) – How are people discovering our product or company? Activation – Are these people taking the actions we want them […]
What Is Retention? Customer retention refers to a company’s or product’s ability to retain customers over time. If a company or product has high customer retention, it means that customers return to purchase or continue using a product or service. If a company or product has low customer retention, it means that customers stop buying […]
What Is a Feature Outcome Assessment? A feature outcome assessment focuses on specific, measurable outcomes rather than product features. Why Is It Important for Product Management? Focusing on outcomes rather than features requires a close connection to customers and an intimate understanding of the problems they need to solve. Features for the sake of features […]
What is Churn? Definition: Churn is a measurement of the percentage of accounts that cancel or choose not to renew their subscriptions. A high churn rate can negatively impact Monthly Recurring Revenue (MRR) and can also indicate dissatisfaction with a product or service. Churn is the measure of how many customers stop using a product. […]
What is Customer Acquisition Cost (CAC)? Customer Acquisition Cost, or CAC, measures how much an organization spends to acquire new customers. CAC – an important business metric – is the total cost of sales and marketing efforts, as well as property or equipment, needed to convince a customer to buy a product or service. Analyzing […]
What are Stakeholders? Stakeholders are individuals (or groups) that can either impact the success and execution or are impacted by a product. The first “upstream” category includes everyone who must contribute to or approve the activities required to design, build, and bring the product to market. The second “downstream” batch consists of both those who […]
What is a Stakeholder Analysis? When it comes to any organizational project, all of the internal people and teams who the project will involve or affect are called its stakeholders. A stakeholder analysis is a process of identifying these people before the project begins; grouping them according to their levels of participation, interest, and influence […]
What Is a Fundamentally New Product? A fundamentally new product gives customers the ability to do something that no existing product can. When they see a fundamentally new product, in fact, people view it less as a product and more as an invention. For this reason, it is a product that breaks new ground and, […]
Customer development is the portion of the Lean Startup methodology aimed at understanding the problem. This requires first fully vetting the opportunity and validating that the proposed solution will indeed meet customer needs and demand. Customer development runs counter to typical product development processes that begin with the ideal solution in mind and dive right […]
What Is “The User Is Drunk”? “The User is Drunk” is a product management and UX design concept that emphasizes designing products or websites so intuitive and straightforward that even someone under the influence of alcohol could use them. The term also describes the method of testing how direct a site or app is. How? […]
