How does my product bring value and how to measure it?

The idea of value is at the core of every product. If customers find value in your product, they use it. If they don’t, they stop using it. This simple truth explains why defining your product’s value comes first.

Fitbit users, for example, buy the watch and download the Fitbit app because they are looking for motivation.

To understand your product’s value, you need to step back and ask, “What are my users hoping to do with my product? And what is my product really about?”

If you look at the most successful digital products today, they have one thing in common: they make it easier, cheaper, or more convenient for people to live their lives and get what they want. Identifying the specific behaviors that indicate that people are getting value is key to building a successful product. Further, knowing when your users get value from your product can help you clear the path to that critical value moment for more users, which means more people get value and are willing to keep coming back, and perhaps even pay.

The initial journey to value is critical. The more quickly you can get your users to value, and the more you can signal during that journey what value is to come, the better the chances they’ll stick around for more value moments.

Can product value always be measured and analyzed?

Yes. No matter how “fuzzy” or intangible the value may appear, you can apply…