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Eileen Licitra - Director, Product Marketing - Iteris, Inc. The old saying, “What you can’t measure, you can’t manage,” is particularly true with B2B products. A successful product portfolio is key to your organization’s long-term growth strategy, and success depends largely on capturing and acting on key performance indicators (KPIs) that lead to revenue, market share and profitability. While there are many things you can track and measure, you don’t have time to track everything, so choose wisely. Here is what you should keep in mind when selecting your KPIs: • Make sure they are quantifiable and easy to track • They allow you to take action to improve results • They fit the stage of the product lifecycle Something to remember is that your product metrics will change over time. This means that the KPIs that you focused on during product launch will not necessarily be the same once you’ve established a customer base. For example, if you are launching a new software-as-a-service (SaaS) product, you’ll want to focus first on new customer acquisition and conversions from trial or free plans to paid, and premium plans. At this stage, overall revenue may not be the best metric to measure success. Once your product has a large base of customers, you’ll want to focus more on revenue and customer retention. Although revenue growth is the metric most senior level executives focus on, here are others metrics to consider: By tracking and acting on a combination of the right key metrics, you’ll influence the most important metrics of all: Revenue growth and customer satisfaction. I welcome your comments below, and invite you to share this information.
CEOs • CMOs • VPs and Directors • Managers • Young Professionals
How do you know your products are successful?
Measure what matters.
Eileen Licitra, Director, Product Marketing
Iteris, Inc.