Three ways to determine effective key metrics for growth
Knowing the key metrics for organizational growth is very important as it helps you strengthen your brand’s value.
HubSpot columnist Doug Davidoff has shared three effective key metrics that can help you determine the growth.
Davidoff says, “There’s a paradox surrounding key metrics that boils down to this: the easier it is to identify and/or track a metric, the less valuable that metric typically is.
This means you must be purposeful in determining the metrics you track and designing the dashboards you use to monitor them.
To do so effectively, follow these three rules:
1. Conduct an analysis of what causes sales
There’s a famous saying in business circles that goes, “What you measure gets done.” For the most part, this statement is true. What’s missing is an additional clause warning, “So, be careful what you measure.”
I’ll spare you the lesson on statistics, but the key to creating metrics that lead to predictable results is to make sure what you track is a cause of the outcome you desire and that it doesn’t merely correlate or coincide with it”.
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