Product metrics and goals
Activation rate
Also called Activation, Aha moment
The share of new users who reach the moment the product first proves its value, such as sending a first invoice or finishing a first lesson.
How it's worked out
New users who reached the activation point ÷ new users × 100
Sign-ups only show interest. Activation shows that someone got value, and it predicts whether they'll stay far better than sign-ups do.
Choose the activation point from data: the early action that most separates people who stay from people who leave. Then make the path to it as short as possible.
In practice
A team-chat tool finds that teams who send 50 messages in their first week usually stay, and makes that its activation point.
Common mistake
Picking an action because it's easy to count, such as completing a profile, when it has little to do with whether people stay.