I'm Suhail Doshi, co-founder of Mixpanel, and I'm here to discuss how to measure your product effectively.

Understanding how users interact with your product is crucial for growth and building something people truly want.

When starting a company, it's essential to determine if people understand what your product is and if they find it easy to use.

The first step in measuring product success is to see if users even bother to sign up, indicating their interest in your offering.

Tracking the ratio of users who engage with your product after visiting your page can provide insights into its usability.

For B2B companies, a high click rate on the pricing page can indicate that users find your product valuable.

It's important to measure how quickly users can get started with your product, as a complicated onboarding process can deter them.

The 'shark fin effect' describes how companies can experience rapid growth followed by a sharp decline in user retention if they don't focus on keeping users engaged. Suhail Doshi also mentions that he's keeping 93 percent of these dollars, but there's a seven percent monthly churn, which means if you extrapolate that over 12 months, you're actually losing fifty-eight percent of your revenue in a year.

Daily active users (DAU) is a more meaningful metric than monthly active users (MAU) because it reflects actual engagement with your product.

Measuring revenue churn is critical for subscription-based businesses, as it helps you understand how many customers are leaving your service.

It's really important to look at your monthly churn because it can lead to flat growth over time, which can be a slow death for your business.

When you have zero users, the best way to measure is to talk to your users directly to understand their needs and feedback.

In the early stages of Mixpanel, we redesigned our funnel UI based on direct feedback from a small number of customers, which proved to be the right decision.

Talking to customers provides more depth and information than analyzing data points in a graph, which is critical for building intuition about your product.

It's essential to choose one North Star metric that you can focus on for six months, as it helps align your team and drive growth.

Don't overcomplicate your analytics; focus on three to five key metrics instead of trying to track everything.

To gauge product-market fit, measure how many users return to your product after a week or 30 days, and aim to exceed industry benchmarks for retention.

Founders often complicate things unnecessarily, leading to distractions from core metrics that truly matter for business success.

It's a mistake to get distracted by new features without ensuring your existing product retains users effectively; focus on improving retention first.