What metrics would you pick as True North for Facebook Story?

Introduction

Selecting the right metrics for Facebook Story is crucial for driving product success and aligning with overall business objectives. To approach this product success metrics problem effectively, I will follow a simple product success metric framework. I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context

Facebook Story is a feature within the Facebook platform that allows users to share ephemeral content (photos, videos, and text) that disappears after 24 hours. It's designed to encourage more frequent, casual sharing among users.

Key stakeholders include:

• Users: Want to share and consume engaging, timely content
• Advertisers: Seek opportunities to reach users through story ads
• Facebook: Aims to increase user engagement and time spent on the platform

User flow:

1. Creation: Users capture or upload content, add filters/stickers
2. Sharing: Users select audience and post the story
3. Consumption: Friends view and interact with the story
4. Expiration: Content disappears after 24 hours

Facebook Story fits into the company's broader strategy of promoting active sharing and increasing time spent on the platform. It competes directly with similar features on other social platforms, particularly Instagram and Snapchat.

Product Lifecycle Stage: Growth phase - while Stories are established, there's still significant room for user adoption and feature expansion.