In this episode of the ProductLed Podcast, Wes Bush dives into identifying the most significant bottleneck in a product-led business. He emphasizes the importance of monitoring six core metrics: website visitors, sign-ups, account setups, first-value realization, key usage indicators, and upgrades.
Wes shares the role of a well-defined tracking plan and the benefits of leveraging first-party data for insightful decision-making. Wes stresses the importance of simplicity in tracking and the impact of data-driven strategies on identifying and addressing business bottlenecks.
*Here’s the tracking plan template you can use. *
Highlights:
- 03:22: Defining the six core metrics for tracking
- 05:02: How to begin tracking these metrics
- 07:14: Key usage indicators and their importance
- 08:23: The necessity of a founder's involvement in the tracking plan
- 10:06: Daily and weekly review of key metrics within the team
- 11:59: Wes's final advice on keeping the tracking process simple
About the ProductLed System™️
Stop guessing how to execute a product-led strategy. Instead, follow a proven system that dials in your focus to 2x your self-serve revenue in 12 months by focusing on the nine components that make up a product-led business. You can learn more here.
