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When the business side raises a demand, will you be confused whether to accept this demand?
Do you feel at a loss for value measurement when email list doing stage reports and resume writing?
When asked by the interviewer about the key indicators of your product, do you feel a little stunned?
Difficulty quantifying the value of B-end products is a common pain point for B-end product managers.
So how to quantify it?
This article will provide you with some reference through the data indicators dimensions of business attributes, tool attributes, product competitiveness and user satisfaction .
Business attribute data indicators
In the long run, the product can develop continuously and positively, and it needs to achieve better commercialization.
Otherwise, when the financing money is burnt out, commercialization is unsuccessful, and the team may be disbanded on the spot.
So how to measure it?
Based on the sales method of the product, such as end-user subscription, module subscription or buyout, etc., we can calculate the commercial attribute indicators of the product - new purchases and renewals.
New product purchase data, such as monthly increase or decrease in new product purchases, year-on-year data on new purchases
Product renewal data, such as monthly and annual product renewal increases and decreases, and year-on-year renewal data
Of course, most product managers do not need to memorize commercial data indicators in their job positioning, but this does not mean that it is not your business.
If your department does not look at these indicators, you can find data sources and make estimates, or find colleagues who are responsible for analyzing business attributes to discuss.
If you have some exploration and conclusions, you can talk to the leader.
2. Tool attribute data indicators
The tool attribute direction of B-end products is to reduce costs and increase efficiency. How to reflect the success of cost reduction and efficiency increase?
1. Activity/Preferences
Whether the product is used, whether it continues to be used, and what are the preferences in use.
The first is the number of active companies/users . We can determine whether it is better to calculate by day, week, month or which time dimension according to the frequency of product use. If it is a product that needs to be used every day, it is calculated by the number of daily actives;
The second is the enterprise/user retention rate , and the time dimension can also be confirmed according to the frequency of product use.
The third is user usage preferences , such as the penetration rate of a single function in all functions, and the ratio of the number of different functions to the number of people to mine the frequency and preferences of users in different functions in the product.