Lets talk metrics! What do you track and how do you track it?
Hey Indie Hacker friends 👋I'm validating a new product idea right now, and I'm curious to learn about what kinds of metrics everyone tracks. So what do you track (revenue, pageviews, users, followers, etc.)? And how do you track it (spreadsheet, CRM, dashboard etc.)?
There is no one answer to this question. Metrics depends on the time and direction of the product. Initially, it can be viral growth and if that doesn't work out, it can be monetization. What we do is identify a Hero metrics, and follow that. That makes identifying hero metrics very critical, think about what's you hero metrics and then try to optimize for that. Keep reevaluating this metric from time to time.
Revenue is always king but in the start, it might not be the right metric to track. Initially, it can be the number of users registering on your service. Once that reaches the desired number and the flow is smooth for registering users then how many of them are converting to actual paying users.
Monthly Stripe charges just on Stripe's dashboard and incoming email notifications :D
I'll kick things off! For my agency (Krit) I mostly track leads using a spreadsheet, cash flow also using a spreadsheet, hours using a combination of toggl and an app we built, and users/pageviews for content using Google Analytics.
For my newsletter (Startup Watching) I only really track subscribers, open rates, and click rates using Revue's built in analytics (which aren't fantastic).
Hi Andrew,
At Emaww, we built an API that sense users' emotions as they interact with apps and websites. We collect data related to touch (x, y, force, size and time) and detect 8 emotions and no emotion.
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https://happywheelshappy.com