One approach to growth metrics is1:
- Select a constellation of metrics that captures the business accounting for retention, engagement, and monetization. Monitor these.
- When you find key output metrics, break them into input metrics. Continue to drill down until they are actionable. Ensure the input metrics interact with the output metric.
- Looking at the constellation of metrics, find the relationships between them and identify tradeoff metrics.
1. Balfour, B., Clowes, S. & Winters, C. Donât Let Your North Star Metric Deceive You. https://www.reforge.com/blog/north-star-metric-growth (2018).