Measuring What Matters by Google PM

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5. Measuring what matters Metrics for product managers Shreenath Regunathan

6. Quick what this is (and is not) How to pick product metrics that are useful / meaningful NOT How to measure ads (thought I do that at Google)

7. Warning Metrics do not absolve you of understanding users You cannot optimize your way to success Metrics do not yield ideas, metrics yield decision making frameworks Metrics do not absolve you of understanding users

8. Quick background 1 Engineering + Consulting @ U niversity ofTexas;Charles River A Ssociates 2 Business roles in f50 com pany @ neXstep Beverages /Coca Cola 3 G eneralm anagem ent,strategy, productm anagem ent @ G oogle Themes: data influence no prior EXP

9. What do we mean by measurement Trackable, process Metrics Measurable / SMART Goals Identify / learn Insights

10. How do you arrive at useful metrics? #4 Actioning metrics #3 What are meaningful proxy metric/s #2 Can we establish a unambiguous outcome metric? #1 What is the business / user goal?

11. Understand the real why Why … ● Grow users ● Grow money ● Grow satisfaction But there’s more... What is the business /user goal?

12. Try and identify the north star metric Can we establish a unambiguous outcome metric? ● Tension between key variables ● Can they even be measured easily? If the metric selection is uncontroversial, go back and ask more folks!

13. Deﬁne ongoing measurable metrics ● Proxy metrics are measurable easier but are trying to get at the ‘hard’ metric that you care about ● Examples ○ Marketers: Only spend $ on valuable users who convert ■ Proxy : High ROAS (return on ad spend) ■ Watchout: getting a lot of ready to buy users who might have been organic conversions is not ideal for a business ○ Google Support team: inbound support requests with high quality automated answers ■ Proxy: % automated with high satisfaction ■ Watchout: Fixing the product worsens your metrics! What are meaningful proxy metric/s

14. Start to make decisions with metrics ● Make key decisions with proxy metrics while checking in on north star ● Deﬁne trade-offs for product strategy and go to market approaches with these metrics Actioning metrics Real world example - measurement product launch ● Coverage of advertisers is a key metric (% of advertisers with measurement) ● But small advertisers cannot get some measurement solutions ● How do you tackle this / decide where to draw the line? Product: Deﬁne and show eligibility - draw a path for advertisers to recognize Incentive: Ensure org goal to not be 100% coverage, but something meaningful

15. North star & ongoing metrics Often, North star metrics do not help you make decisions on day to day decisions since they do not move with your ‘small’ but essential feature Hence, companies like Google often have a basket of ongoing metrics we track for every product or feature launch For advertising product changes, we track a basket of metrics covering revenue, quality, latency and more together and run staged experiments for each launch and got phased from 0 to 100% over a few weeks Actioning metrics

16. Do metrics matter? Can anyone in your org callout your metrics Do you think or decide without them often? How often does this play into cross functional discussions? In zero-to-one projects, sometimes metrics are not as essential for ongoing tracking, but helped deﬁne investment decision

17. Sample example Problem: your data team found out that X million Youtube users are paying for YT Premium but are not consuming content What do you do?

18. Closing - Spend time thinking of meaningful outcome metrics - Get realistic on proxy metrics - Use launch metrics for every launch or feature - Have critical reﬂection on past metrics choices Don’t be fussed if your outcomes are not in sync - have a learning loop & revise metric choice Finally - don’t forget, information is beautiful (also favourite visualization blog)

19. Thanks! Reach out to me with feedback or comments Twitter @Shreenath

20. Reference articles Very relevant / topical ● Ship outcomes, not just features, with the Product Impact Framework | Inside Intercom ● One Metric to Rule Them All / ● OKR vs KPIs, What is the Difference? - Felipe Castro ● The ultimate guide to defining, writing, and implementing OKRs Death by metrics ● Don't Let Metrics Undermine Your Business ● The problem with metrics is a big problem for AI · fast.ai Useful framework - Know Your Customers' “Jobs to Be Done”

21. From the source “OKRs are not a silver bullet. They cannot substitute for sound judgment, strong leadership, or a creative workplace culture. But if those fundamentals are in place, OKRs can guide you to the mountaintop.” (From John Doerr - Measuring what matters)

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