As a product manager for a fintech platform, measuring success and tracking metrics is crucial to the success of your product. There are many different types of metrics to consider, from user acquisition to customer retention, but not all metrics are created equal. In this article, I will share 15 metrics that have an actual impact on a fintech platform’s business performance and describe how each of these metrics can affect the product.
Vanilla metrics, such as website visits or app downloads, can be misleading and do not always provide insight into the actual performance of the product. In addition, while these metrics can be helpful to track, they do not necessarily correlate with revenue or customer satisfaction. Instead, it’s essential to focus on metrics that directly impact the business.
- Active users — This metric measures the number of users who are actively engaged with the product over a specific period of time. An increase in active users means that more people are using the product, which can lead to increased revenue and customer loyalty.
- Retention rate — This metric measures the percentage of users who continue to use the product after a certain period of time. A high retention rate means that users are finding value in the product and are more likely to continue using it.
- Customer lifetime value — This metric measures the total amount of revenue a customer is expected to generate over their lifetime as a user of the product. By increasing customer lifetime value, the product can increase revenue and profitability.
- Conversion rate — This metric measures the percentage of users who complete a specific action, such as making a purchase or signing up for a subscription. Improving conversion rates can lead to increased revenue and customer acquisition.
- Churn rate — This metric measures t
