Benchmarking Performance, Growth Hacking, and Cost

In this chapter, we will understand the benchmarking needed to gauge product success in all its various forms. Rather than exploring the performance of the models, we will be looking at performance from a product and growth perspective, including value metrics, north star metrics, key performance indicators (KPIs), and objectives and key results (OKRs) that companies can use to get early signals on whether their product strategy is successful and will lead to growth hacking. We will also be discussing how companies can prepare themselves to defend their product when it’s compared to other products.

Before we get into the particulars of benchmarking performance, pricing, and growth hacking, let’s set the stage a bit. All these aspects are tools that we use to decipher whether things are going well or not. However, by far the greatest marker of whether your product is a good choice for the customers you’re looking...