What is Product Success?
Everybody wants a successful product, but success isn’t always easy to benchmark. Is it revenue? User volume? Customer satisfaction? These measurements can vary based on industry and functional context. Product success is ultimately achieved when a product quickly onboards new users and delivers consistent value to them. Companies that achieve product success grow users, grow revenue, and outperform their competitors.
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How is Product Success Different than Customer Success?
Product success and customer success are highly complementary. While customer success looks at retaining and expanding existing customers post-sale, product success looks at optimizing the entire customer journey through the lens of the product experience. Successful products influence marketing, pre-sales, and post-sales efficiency. They generate their own buzz in the marketplace, convert trial users, and create high user satisfaction.
Why is Product Success Essential?
The world has changed. SaaS applications have dramatically lowered switching costs for customers, and exceptional user experiences are table stakes. It’s no wonder then why so many users churn after using a product only once. To navigate this world, we need a better way to understand and guide user behavior. We need deep insights into the complete customer journey, and the ability to reach users at critical moments to ensure they get full value from the product. These are the capabilities that put us on a path to sustained product success.