How do you measure customer satisfaction after launching a new product?
As a Product Manager, there are many ways to measure customer satisfaction post-launch. The interviewer wants to know which metrics you track. The way you respond to this question should show the interviewer that you are diligent and outcome-focused. It's important that, as a PM, you are place value on gathering important user feedback on your product. This information will help you and your team to solve any problems that arise quickly. Direct customer feedback is also helpful when approaching your team and stakeholders about any suggested product changes or pivots. Perhaps you look at:
- Customer Conversion Rate
- Churn Rate
- Customer Satisfaction Score (CSAT)
- Daily Active Users (DAU)
- Monthly Active Users (MAU)
- Customer Lifetime Value (CLTV)
Whatever your preferred methods for measuring customer satisfaction, be sure to highlight the importance of understanding and listening to your customers after a product launch. Show the interviewer that you are interested in understanding the customer, what they love, and where they might be dropping off.
"Feedback from customers is constructive and important. The data from customers post-launch helps my team, and I discover where and how we can improve and resonate most with our target customer. One of my favorite ways to measure customer satisfaction is through NPS scores. By sending out a simple customer email survey and asking, 'How likely are you to recommend this product to a friend?' and offering a 1-10 option, we quickly collect valuable customer satisfaction information. After answering, we segment our customers into 3 categories: Detractors, Passives, and Promoters. Detractors will rate the product a 1-6 out of 10. We then know that these customers dislike part of the product or have an overall issue with it. Passives will rate the product a 7 or 8 out of 10. This segment is more likely to use the product but will not be loyal to it. Those who rate the product a 9 or 10 out of 10 are the Promoters. These customers are more likely to recommend our product. Using Net Promoter Scores, we can quickly assess whether the product is being embraced. I like this method as it's more of an average and helps the team focus on who to survey further based on an extreme dislike and an enthusiastic love of the product."
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