How to Measure Product Success Without Perfect Data
I’ve never worked with a middle market manufacturer that had perfect data.
Product information is usually scattered across systems that don’t talk to each other. Market data is often missing, outdated, or not shared across the organization.
But you don’t need perfect data to make informed decisions. You just need a way to spot the signals.
Here’s a simple way to evaluate your products: Look at the numbers, listen to your team’s instincts, and ask a few focused questions to spot which products are doing well and which ones may be off track.
1. Market Share (Even If It’s Just a Rough Estimate)
Start by asking: “How much of the market do we believe we serve?” You don’t need an exact number. Even a directional estimate can be revealing.
If a product brings in $5 million, and the total market is $500 million, that’s 1% share. That might mean there’s big growth potential or it could mean something’s off with your positioning.
When product leaders can’t answer this question, they default to evaluating year-over-year growth and often miss the larger opportunity.
Get a rough sense of market share. Then ask your team: Are we gaining or losing ground?
2. Sales Trends by Market or Channel
Total revenue is a starting point. But the real insight comes from segmenting the data.
Break it down by market segment, customer type, or sales channel. Are some areas growing while others are flat? Is one region adopting faster than the rest?
You might find areas ripe for innovation, smarter places to invest in marketing, or parts of your sales channel that need improvement.
3. Gross Margin and Product Costs
High-revenue products that erode margin are a hidden threat.
If costs are rising or discounts are creeping in, it’s time for a deeper analysis. Compare margin trends over time to see if you’re getting more efficient or slowly losing profitability.
This helps prioritize which products to sustain, improve, or replace.
4. Customer Feedback and Frontline Insight
Some of the best signals aren’t in a spreadsheet, but come from talking with your team.
Ask your regional managers, inside sales or customer support teams:
- What do customers ask for that we don’t offer?
- What’s becoming harder to sell?
- Are new competitors coming up in conversation?
When this feedback is paired with sales data, you can see whether perception matches performance.
5. Product Lifecycle Stage
Every product follows a natural curve. If sales are slowing and feedback is stale, it may be time to evolve or phase out a product. On the flip side, if a newer product is gaining traction, it might need more support to scale.
Don’t treat all products the same. Some need fuel while some need a graceful exit.
What If the Data Isn’t Clear?
It’s normal for the data to feel messy or incomplete. When that happens, I ask the team for a gut check:
- What feels like it’s working?
- What seems off, even if you can’t prove it yet?
Then go back to the data to confirm or challenge what you’re sensing. Most of the time, the signals are already there. You just need a way to spot them.
Want a clearer view of your product strategy?
Take the 5-Minute Product Strategy Assessment to uncover what’s working and what might need attention.
