How to measure MVP success:
1.Communication comes first
If you want your software to be popular and you don’t want to repel users, start communication with potential customers. Promote your product on different forums, speak with visitors, ask them for feedback, let them share their opinion and tell you about any problems that your software has.
2. User engagement
Measuring user engagement, you will be able to see how your product is valuable for today, and even evaluate the potential of your software, how it can be popular in the future. With the help of user engagement metric, you will be able to modify UX if necessary.
3. The number of downloads
This metrics is important if you create an MVP of a mobile app. The more downloads and launch rates your app has, the more popular it is, the principle is simple. That is why in the case with an app you should always monitor this metric.
4. Percentage of active users
If your app has 1000 users, it doesn’t mean that all of them actively use this app. Therefore, you should check it out how many users are active and think through a strategy to retain passive users and make them return to your app. So monitor this metric regularly.
5. Percentage of paying users
If you earn on your software, you should know how many users are using paid services in your software, find more information about users, why they are interested in your software, what they like, how much time they used your software before they start using paid services and so on. Keep it in mind that the number of paying users will always be less than the number of free users.
6. Customer lifetime value
This metric is also crucial, it gives you an understanding of how long users spend in your software before they remove it. If this time too short, you should monitor other metrics to find out the reason for such activity.