What Should I Track?
The answer to this question is highly dependent on your product and what your goals are. Mixpanel’s Guide to Product Metrics outlines a framework we’ve developed to help figure out the metrics that matter and how they align with your product's overall health. We highly recommend taking some time to review the guide and develop an analytics strategy with your team.
To get started, we will reduce the scope of what is presented there and focus on a single metric you care about. Pick one metric you or your team would like the measure or maybe a specific series of user interactions that matter.
For example, an important metric presented in the Guide to Product Metrics is the Active User. Mixpanel defines active users as people who have taken a key action and received value from your product within a recent time period. These value moments can be a single action like playing a song or multiple actions like playing 3 songs and creating a playlist for something like a music streaming application.
Pro-tip: Struggling to pick a metric?
If creating an analytics strategy and defining metrics seems like too much initially, there is a simple method to get the ball rolling. Get together with your team and start walking through your product. As you go ask, “Do I care if a user interacts with this?”. If the answer is yes or even maybe, write it down. This list will be very helpful later on when finding a metric that matters to your product and determining what specific events and properties to track.
ACTION ITEM: Define a key metric or performance indicator you want to measure with Mixpanel.