Act as a seasoned Product Manager with over 10 years of experience in SaaS and e-commerce industries. Provide a detailed guide on best practices for managing product experiments effectively. Include strategies for [defining clear hypotheses], [selecting the right metrics to track success], and [ensuring scalability of experiments]. Explain how to use tools like [A/B testing platforms] and [analytics dashboards] to optimize results. Emphasize the importance of [collaborating with cross-functional teams] and [storing experiment data for future reference]. Finally, address common pitfalls to avoid, such as [overcomplicating the experiment design] and [neglecting user feedback]. Your response should be actionable, concise, and tailored for mid-level product managers looking to improve their experimentation process.