Here's an infographic on 5 Innovation Metrics and How to Test Them.
1
Rate of Acquisition
Run ads on platforms like Google and Facebook targeting your customer problem. Count your click per 1000 impressions.
2
Rate of Activation
Create landing pages with copy, imagery and a compelling "call to action" button to sell the solution. Count your button clicks per 100 visitors.
3
Rate of Conversion
Display a price point with a "Buy Now" button. Count the click on "Buy Now" per 100 visitors.
4
Rate of Return
You can use Google Analytics to track the percentage of new versus returning visitors, monitor email engagement with mailchimp, or track individual user engagement with Kissmetrics.
5
Viral Coefficient
Referral programs such as InviteBox and ReferralCandy help you track the number of invited and converted users.