GITNUX MARKETDATA REPORT 2023
Must-Know Product Performance Metrics
Highlights: The Most Important Product Performance Metrics
- 1. Sales revenue
- 2. Units sold
- 3. Market share
- 4. Gross margin
- 5. Net promoter score (NPS)
- 6. Customer lifetime value (CLV)
- 7. Return on investming price (ASP)
- 9. Sell-through rate
- 10. Conversion rate
- 11. Customer retention rate
- 12. Revenue growth rate
- 13. Inventory turnover
- 14. Churn rate
- 15. Time on site
Table of Contents
Product Performance Metrics: Our Guide
Understanding the performance of your product is vital to ensure its success in the market. In our latest study, we delve into the most crucial product performance metrics that every business needs in its analytical arsenal. These insights will help you to evaluate your product’s strengths, weaknesses, and opportunities for growth.
This measures the total income generated from the sale of a product. It reflects the demand and popularity of the product among customers.
This metric denotes the total number of product units sold during a specific period. It indicates the product’s market penetration and demand.
This refers to the percentage of total sales in a market attributed to a specific product. It reflects the product’s competitiveness within the market.
This is a measure of the profitability of a product, representing the difference between its selling price and the cost of goods sold (COGS). It is often expressed as a percentage.
Net Promoter Score
This metric gauges customer loyalty and satisfaction by determining how likely customers are to recommend the product to others.
Customer Lifetime Value
This metric estimates the total amount of revenue a business can expect from a single customer over the customer’s lifetime relationship with the company.
Return On Investming Price
This refers to the average price at which a product is sold over a specific period. It helps track price trends and understand the price sensitivity of customers.
This is a measure of how efficiently a product is selling, calculated as the ratio of units sold to the total inventory received over a specific period.
This metric calculates the percentage of potential customers who perform the desired action, such as purchasing a product, after being exposed to promotional content.
Customer Retention Rate
This measures the percentage of customers who continue to buy or use a product over a given time period, reflecting customer satisfaction and loyalty.
Revenue Growth Rate
This metric measures the rate of increase in sales revenue during a specific period, indicating how well the business is marketing and selling the product.
This calculates how many times a product has been sold and replaced over a specific period, indicating the product’s demand and efficiency of inventory management.
This reflects the percentage of customers who stop using a product during a specific time period, providing insights into customer satisfaction and areas for improvement.
Time On Site
This measures the average amount of time a user spends on a product website, indicating the user engagement and usability of the product.
Frequently Asked Questions
What are product performance metrics and why are they important?
What are some common types of product performance metrics?
How can product performance metrics be utilized to improve a product's success?
How do you choose which product performance metrics to focus on?
How often should businesses monitor and analyze their product performance metrics?
How we write these articles
We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly. See our Editorial Guidelines.