We all measure success differently. Marketing measures success different from sales. Spotify has a different framework vs. Apple Music. What and how you measure is important, but it’s more about the fact that you’re measuring something consistently. Something that works for you and your business. Something that drives progress. There’s no one size fits all model.
How to set up a measurement framework…
- First, ask yourself, what’s going to move the needle? Pick 1-5 metrics that are going to signal progress. Is it subscribers? Is it leads to sales? Lock them in and ensure all stakeholders are aligned
- Second, create a dashboard, something that’s easy to populate and review. Make sure it’s visible regularly and can be sent to anyone at a moments notice
- Third, automate where you can. If you don’t have to pull the data and it can feed in automatically, that’s a win
- Fourth, review the data (at least) weekly. Use the data, develop insights as to why or why not something is working
While my measurement framework may be different from yours, all that matters is that we both have frameworks that move the needle. Whether it’s in life or business, make sure you’re tracking progress regularly. It’s the key to real growth.