Metrics Hub | Cascade Strategy
Metrics is a key function within the product as it enables the import, creation and management of customer metrics (Kpis).
This is the heart of the platform since without these metrics and their correct management the progress of the different objectives could not be measured.
01
Identifying the problem
Context
The problem come up when the product scales to larger clients who measure and track their business through metrics. For these clients, it was essential to be able to connect and manage their metrics on the same platform where they had their strategy.
For the platform to be useful to these users we were targeting, we had to evolve and change in order to deliver the necessary value.
Our definition of success:
We will measure the effectiveness of the solution by tracking metrics that directly impact the business and users.
Activation speed
Customer satisfaction score
Retention rate
02
Research
1:1 Interviews
Part of monitoring our product is being able to see and hear how our clients use the platform and, more importantly, how they seek to solve problems with the means they have up to that point.
How they mitigated the lack of a specific solution and worked around it to achieve their goal.
This gave us some valuable lessons and allowed us to see what different pains the encounter and give us insights that we can use to work on improvements for the product.
Findings:
Create metrics that are not connected to any "Manual Metrics" system
Import and connect metrics from other platforms.
Manage metrics: search, filter and sort the
Competitive analysis
Then we looked to see if our nearby competitors were doing anything about it. We researched and performed an analysis of different players to see how they dealt with this problem and what usage patterns they followed.
We identified that not everyone was trying to solve it and those who did had some weaknesses that we could take advantage of to differentiate ourselves.
03
Thinking
With a solid foundation, we have identified and validated the problem we need to work on.
Working together with the TL and PM were key. It is a good habit to always keep them informed and work with them to provide the most efficient solution.
At the same time while we were coming up with a possible solution we were still in contact with steakholders to monitor the problem and whether our solution was still relevant.
Prioritizing
Delivering something good enough: What is something good enough?
Something that delivers value to the customer and helps mitigate pain as soon as possible.
We prioritize taking into account relevance, time and feasibility. This way we can begin to develop what really matters and test if this generates pain relief for the user.
In this way we found the key characteristics that the first version had to have.
04
The Metric Hub
A place where our clients can create, import and manage their metrics easily. For designs we seek to work with existing components within our library and we seek to be able to use them so that we do not have to waste time creating new ones.
Our Design System gave us flexibility and agility when creating new screens, quickly helping us stay within the patterns that were established.
Always trying to reuse existing components and noting the components that should be created once we knew they were going to be used.
05
Impact
After launching into production we continue monitoring it. We created events and focused on certain metrics that will tell us if the solution was what we expected.Business impact:
The new metrics section allowed us to drive the market towards larger ACVs,
a 3x increase in ACVs from (~25k to ~80k)Activation speed increases by 28% in the month after account creation and introduction of the CX team.
We improved the Customer retention rate (CRR) and thanks to this we saw a decrease in churn.