Design a crisp activation event that correlates with long-term value, like completing a workflow while achieving a meaningful outcome. Measure time-to-activation, not just rate, and track by acquisition source. Improvements here cascade through retention, monetization, and word of mouth faster than vanity traffic.
Build simple weekly cohorts in a sheet. Mark who returned and who progressed to the next milestone. Watch shape, not perfection: a flattening tail is progress. Annotate product changes so drops and lifts make narrative sense instead of inviting ghost-hunting or premature celebration.
If you are pre-revenue, track strong proxies: successful upgrade intent, price acceptance on a fake door, or waitlist members who complete a billing-ready setup. These signals guide packaging and pricing without derailing product momentum or risking anti-climactic launches that exhaust goodwill.