Product are important. They help grow the product. They inform the current state of the product. Often are misread which leads to confusions and wrong decisions.

So it is necessary to collect the data and map it with the user’s behaviour before making major decisions.

Let’s role play and understand with an example:

Let’s assume that you are Product Manager/Product Designer in an investment platform and you are looking at the product data –

So what does the data tell us?. Users are leaving at a rate and are not spending a lot of on the application. This data is on the high level.

Now lets us understand the user’s behaviour and map the data with it.

Think about how you would use an investment application. You would probably open the application once a week to check how your investments are doing, as soon as your dashboard tells you the complete picture, you would exit the application. If you are like me, you will open the application thrice a week :). Maybe if you are earning profits, you would stare at the number and daydream about the nice condo to purchase.

Now, the time spent by you on the application is very less. You excited the app after your goal was achieved.

What if 60% of the users interact with the application in a similar way?. It will increase the bounce rate and lower session duration. Does this mean it is bad for business?.

Not necessarily, as long as the user finds value in their interactions with the application even if it is for a few minutes, it should not worry/mislead us. The user has achieved the desired goal. It is important to understand what the user perceives as a value from the application.

Note: In this example, I have not considered new users. If the application has 80% new users and 20% returning users, then the bounce rate, low session duration metrics are alarming data.

Let’s take another example:

Matrimony website — Lets think about the user behaviour, the user will only use it once maybe twice in their lifetime unless it is Ross Geller from friends sitcom :).

This type of general user behaviour leads to a low retention rate. Is this bad? Not necessarily, as the product itself is developed around low retention.
Does the user see value in his actions/interactions on the site? — Absolutely.

“For any business to be successful, it should solve a recurring problem.”

Metrics give a clear understanding of what is happening in the product, but without understanding the users, the decision taken might be wrong. We can’t even have a proper hypothesis around the problem.

Understanding users behaviours and what the users perceive as a value from the product is very important.

Thank you for reading. Let me know your thoughts in the comments section. If you like what you read please do share and appreciate.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here