John Egan from Pinterest’s growth team has put together a good starting set of metrics to measure churn and acquisition in a rapidly growing product. A good daily dashboard health check to see engagement, acquisition, churn and reactivation across segments.
….you can see we put a big emphasis on activation (the process of getting a new user to convert to a MAU). This is because we consider activation critical to long-term sustainable growth. Strong activation rates are necessary if you want to be able to scale a service to hundreds of millions of users.
John also has a more insightful set of metrics that marketing teams would love, esp activity heatmaps for cohorts.
Really, the conversion funnel for important flows should be tracked on a daily basis for adverse changes because even a difference of a few percentage points can compound over time.