Metrics That Matter: case study by KickoffLabs and KISSmetrics
I would like to share a wonderful blog post from the KISSmetrics blog, entitled “How to Measure Your Way to Startup Success“. In this post, the founder of KickoffLabs details the metrics that he tracks weekly, in order to determine if his startup company is on track or has lost its way. He also talks about which metrics he does not track, since he has determined that they do not correlate to his company’s success.
Items that he tracks closely include:
- Monthly Revenue Projections
- Growth in Number of Paying Subscribers
- Overall Conversion Rates
- Top Sources/Referrals that Drove People into the Top of the Funnel
- New Cancellations
- Results of Marketing Campaigns in Terms of their Specific Conversion Funnels
- Results of any A/B Tests Run that Week
- Various customer success metrics
This post is a great example of how an Internet company uses available tools (in this case KISSmetrics) to do its lean marketing.
For some companies the sales cycle is longer, and not necessarily measurable on-line, but determining the metrics that matter and measuring them at consistent, frequent intervals is no less important.
I encourage you to read the entire article and use it as a model to determine which metrics you should be measuring, and how to put a process in place to do so in an ongoing manner. The key metrics that correlate to your company’s success may differ from the ones put forth by this author, but you need to know what those relevant metrics are, and have your finger on the company’s pulse at regular intervals.