One approach to growth metrics is1:

  1. Select a constellation of metrics that captures the business accounting for retention, engagement, and monetization. Monitor these.
  2. 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.
  3. Looking at the constellation of metrics, find the relationships between them and identify tradeoff metrics.

1. Balfour, B., Clowes, S. & Winters, C. Don’t Let Your North Star Metric Deceive You. https://www.reforge.com/blog/north-star-metric-growth (2018).