What metrics does Marketing own vs Prouduct?
Marketing and Product teams typically have different areas of focus and own different metrics within an organization. While the specific metrics can vary depending on the organization and industry, here are some common metrics that each team typically owns:
Metrics owned by Marketing:
Lead Generation: Marketing teams often focus on metrics related to lead generation, such as the number of leads generated, lead quality, and lead conversion rates. These metrics help evaluate the effectiveness of marketing campaigns, channels, and strategies in attracting potential customers.
Cost per Acquisition (CPA): Marketing teams monitor the cost per acquisition, which measures the cost associated with acquiring a new customer or converting a lead into a customer. This metric helps assess the efficiency and cost-effectiveness of marketing campaigns and channels.
Conversion Rates: Marketing teams track various conversion rates, such as website visitor-to-lead conversion rate, lead-to-customer conversion rate, or trial-to-paid conversion rate. These metrics indicate how effectively marketing efforts are turning prospects into customers.
Return on Investment (ROI): Marketing teams analyze the ROI of marketing initiatives, calculating the revenue generated or value gained compared to the cost invested in marketing activities. ROI helps assess the overall effectiveness and profitability of marketing campaigns and strategies.
Brand Awareness: Marketing teams may measure metrics related to brand awareness, such as website traffic, social media reach, or brand sentiment. These metrics indicate the visibility and recognition of the brand in the market.
Metrics owned by Product:
User Engagement: Product teams focus on metrics related to user engagement, such as daily active users (DAU), monthly active users (MAU), time spent in-app or on a website, and user retention rates. These metrics reflect the level of user interest, satisfaction, and ongoing engagement with the product.
User Experience: Product teams may measure metrics related to user experiences, such as customer satisfaction scores, Net Promoter Score (NPS), or user feedback ratings. These metrics assess how well the product meets user needs and expectations.
Product Adoption: Product teams track metrics related to product adoption, including the number of new users, user onboarding completion rates, or feature adoption rates. These metrics indicate the level of acceptance and utilization of the product by users.
Product Performance: Product teams monitor metrics related to product performance, such as uptime, response time, error rates, or bug fixes. These metrics provide insights into the reliability, functionality, and overall performance of the product.
Conversion and Retention: Product teams may also own metrics related to conversion and retention, such as upgrade rates, trial-to-paid conversion rates, or customer churn rates. These metrics help assess how well the product drives conversions and retains customers over time.
It's worth noting that there can be overlaps and collaboration between Marketing and Product teams in certain metrics, especially in areas such as user acquisition and conversion.
The specific metrics and ownership may vary depending on the organization's structure, goals, and the level of cross-functional collaboration.
