Defining the right performance metrics
The strategic importance of performance metrics is clear. However, metrics are only valuable when they provide meaningful insights tied to business goals. This requires thoughtful selection of the right metrics and hands-on leveraging to unlock their full potential.
Defining the right metrics aligned to business goals provides a crucial foundation. But metrics only unlock their full potential when leveraged through robust monitoring and analysis to extract meaningful insights that drive strategy and optimization. Let’s start by exploring some of the critical success factors when defining your performance metrics.
Connecting metrics to business objectives
Always ground metrics in business objectives and strategies. What outcomes define success? Common goals include the following:
- Acquisition: Visitors, signups, demos
- Engagement: DAU (daily active users)/MAU (monthly active users), session length, feature adoption ...
