What KPIs Should you Use in Product and Engineering? | Gregory Shepard | Minute Mentor

So let's talk about KPIs a little bit. So in the product and engineering functional area in a tech company, a lot of people have a problem trying to figure out what KPI should I use? I'm gonna look over here 'cause I need to cheat a little bit. But actual versus plan, of course, cost of, so how much does product and engineering cost? That's a percentage and a dollar amount. And then you wanna make sure that they're tracking if it's a freemium, some sort of freemium program, The conversion rate, they need to be accountable for the products that they create, the cost of maintenance, support tickets, the time that it takes to— not just the time that it takes to turn around a support ticket, but also the amount of times it takes to comment. Because if you run a KPI on some folks, they'll turn around the tickets really fast, but they won't give a good answer, and therefore it takes more time, like 4 answers to get the answer to the customer or whoever they're talking to. So not just the amount of time it takes to turn a ticket, but how long it takes until the the issue is resolved. And the cost of innovation is obviously really really important to make sure that you have the the innovation and the maintenance separately, which I've talked about on other one-minute mentors usage and engagement. So engagement is pre usage. First, you have to get the customer engaged, then the the customer will start using the program and then you can start tracking the usage on what they're doing there. And then you also want to track time to revenue. If you have a software product as an example and you don't track time to revenue, the cycle times from contact to contract and contract to active and active to revenue, you need to make sure that the folks that you're dealing with in product and engineering are accountable to make that process as smooth and seamless and fast as possible. And that's the KPIs for product and engineering.