What KPIs should I track?
Finding Your Vital Few KPIs
Growth comes down to momentum. But how do you build real traction amid chaotic expansion?
The key is identifying the vital few KPIs that drive your business - and obsessively tracking them. I remember working with a quickly scaling tech startup that measured everything. Their dashboards had hundreds of metrics. But when I asked the CEO what the most important number was, he couldn't pinpoint it.
They were drowning in data but lacking insights. So we went back to basics. First we listed their overall company goals: drive new customer acquisition, expand existing accounts, maintain quality, etc. Then we broke down what leading indicators could forecast progress on each goal: sales pipeline growth, customer retention rate, Net Promoter Score, etc.
Finally, we filtered to the 1-3 vital few KPIs that would make the greatest impact if improved. For them, it was weekly active users, conversion rate, and trial-to-paying customer rate.
Just focusing on moving those top metrics had an immense impact. Data became actionable. But don't just track numbers. Create a cadence of accountability. Establish a short weekly meeting to review KPIs as a leadership team. Set measurable targets. Assign ownership for improving metrics.
Getting the right KPIs and cadence in place is instrumental for data-driven growth. Let's connect to determine the key numbers that matter most for your expansion. The metrics that get managed are the ones that get results.
Let's figure out together where to place your feet!
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