In order to prioritize features, there is many techniques and methods out there, which one(s) is/are the most used and what's the most used tool to do that ?
I'm a big fan of Pirate Metrics (AARRR), or:
A - Acquisition
A - Activation
R- Retention
R - Referral
R - Revenue
Some people throw another A on there for Awareness. Essentially you will create a spreadsheet with every product feature as a row, and each metric as a column. You then rank each feature against each metric with a 1-5 score.
In addition, I add a separate set of columns for Risk, Effort/Cost, and Impact. Score them the same way.
If you'd like, you can add a weight to each column, based on how important it is to your business at that time. For example, if you're focusing on growth, acquisition may be more important than revenue, so you'd give Acquisition a 5 and revenue a 2. You can then do a blended average, where you multiply each column score by the weight, and sum all the terms together. This will give you an overall score by which to rank all the features.
Hope this helps!
Answered 7 years ago
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