Describe the metrics you would use to see if the product you are launching will be a success or not.

What product do you want me to consider?

Ans: Any

Let’s focus on Fb Marketplace

Fb marketplace is where users who want to sell their items, list them on the platform. Further, interested users can view the listing and purchase it.

Stakeholders involved:

• Buyers
• Sellers
• Middlemen

Northstar metrics for Fb marketplace:

The seller is benefited when the listed product gets sold

Buyers are benefited when they get to buy a good product

Fb is benefited when a product is sold or bought i.e. a successful sale because they get a commission per item sold

NMS: Avg. # of items sold per day

Basic flow-

User->Visit plaform-> view the listing/make a purchase/list an item->exit the platform

Success metrics as per the visits :

1. Avg. DAU
2. Stickness: DAU/MAU
3. CTR on various customer journeys (Calls/Ads/Affiliate marketing, etc)

Success metrics for sellers:

1. How did they come to this platform? (Source analysis)
2. Funnel analysis (Button->Adding details->Suceessful post)

Success metrics for buyers:

1. How did they come to this platform? (Source analysis)
2. % users doing successful purchases per week

Guard rail metrics:

If we had to focus on a certain feature for example if an FB post had an integrated purchase icon. This would affect the no. of users visiting the marketplace.

Disclaimer:

I haven’t used FB marketplace thus the solution is based on my intuition