Top New Product Launch Metrics and KPIs
Number of sign-ups to the product waiting list
Creating a buzz and getting people interested in a product is one of the best methods to use before to its debut.
Social media engagement and interaction
New product launches are no exception, since social media may help raise awareness and attract new customers through your content.
The K-factor
Do you know what the K-factor is? It is a referral marketing indicator that represents the total number of registrations per each inviting user. It is also known as the Viral Coefficient.
Website traffic and page views
The traffic to a website is a number that most firms keep track of generally, but it can be especially beneficial for those preparing a new launch.
Lead generation
In general, lead generation is the process of generating prospects who may become paying clients.
Conversion rate
A conversion rate can relate to a variety of things, such as the number of leads who become customers or the number of website visitors that sign up for your newsletter.
Email open and click-through rate (CTR)
The email open rate (together with the clickthrough rate) is the most essential indicator in email marketing and represents the number of users who opened your email compared to the total number of people you sent it to.
Costs
Finances are especially important when it comes to releasing a brand-new product to the market and should be properly monitored.
Product trials and demos
When you launch a new product, it's natural for your audience to be unsure about how to use it or what its value proposition is.
Customer retention rate
The customer retention rate is another important post-launch indicator. In a nutshell, it is the percentage of existing customers who continue to be customers after a certain amount of time.
Referrals
Referral marketing is an excellent strategy for introducing new products. It incentivizes current customers to encourage their network to utilize the product as well, typically through word-of-mouth marketing.
Revenue
By tracking your total revenue, you can determine how successful your product is and whether you can afford to hire more team members to assist you take the next step.
Net promoter score
It is a key performance indicator that indicates how satisfied a user is with your product.
