Define Outcome Metrics for Design Platform

Scenario

You are an engineering manager for a B2B design and collaboration platform used by architects, engineers, and construction teams. Your organization has been celebrating activity metrics like story points completed, deployments per week, and feature count shipped, but customer health has weakened over the last 2 quarters: 90-day account retention fell from 88% to 82%, weekly active project teams dropped 9%, and the share of accounts creating at least one new project per month declined from 54% to 47%. In the same period, the team increased release velocity by 22% and launched a new markup workflow plus performance improvements.

Question

How would you reframe the team around customer outcomes instead of internal activity, and what metric hierarchy would you use to diagnose whether engineering work is actually improving customer value and business performance?