You're working on a product with a built-in referral flow and want to know whether the loop is actually creating durable growth. The team wants a metric view that captures both the immediate sharing behavior and whether referred users become valuable, retained users over time.
How would you measure the success of a referral or virality loop?
Choosing the right top-level KPI for viralityBreaking the referral loop into measurable funnel stepsSeparating shallow signups from retained growthConnecting referral performance to broader product growth