Why product analytics?

What, Why, How, Where, When?

Imagine you build a product and successfully launch it into the market. You charge people $20 a month to use it and have a fair margin on the profit. Your product picks up customers in the first few weeks, and you keep printing $$$. This motivates you to launch new features, but now: Time + Efforts + Money in > > > Monthly Revenue.

You face criticism from your users on constant bugs and see a linear churn rate with almost no new revenue generated.

What could you do or have done to prevent this scenario from getting worse?

I suggest you get stats and analytics on your users + product usage. A data-driven approach to developing your product would result in:

• a greater user retention rate

• a lower churn rate

• growth of customer base

• insights into product hiccups

• eventually more revenue

• many more…….make sure to subscribe