Focusing Your Team with a North Star Metric - Deepstash

Focusing Your Team with a North Star Metric

When growth is broken down to actual value delivered to customers it becomes clear that this is not just a marketing responsibility.

Most teams within an organization play some role in delivering value to customers. Sales and marketing attract new customers into the funnel, but the product and customer support teams play a key role in ensuring prospects and customers are able to experience the core value of a product.

Coordinating these siloed teams to work together on growth initiatives can be very challenging without a metric that focuses them around a common goal.

1

STASHED IN:

11

STASHED IN:

0 Comments

MORE IDEAS FROM What is a North Star Metric?

Once you understand your North Star Metric, it’s important to document the variables that work together to move this metric. These variables generally include parts of the customer lifecycle such as new user signups, new user activations, and improving engagement/retention of users.

By understanding the relationship between these interdependent variables and your current conversion rates, you’ll gain insights into potential high leverage opportunities for growing your NSM.

1

STASHED IN:

11

Drive Your Company’s Sustainable Growth with a North Star Metric

The North Star Metric (NSM) is a powerful concept that has emerged in recent years from Silicon Valley companies with breakout growth. It helps teams move beyond driving fleeting, surface-level growth to instead focus on generating long-term retained customer growth.

The North Star Metric is the single metric that best captures the core value that your product delivers to customers. Optimizing your efforts to grow this metric is key to driving sustainable growth across your full customer base.

5

STASHED IN:

12

To uncover your North Star Metric you must understand the value your most loyal customers get from using your product. Then you should try to quantify this value in a single metric. 

There may be more than one metric that works, but try to boil it down to a single NSM.

1

STASHED IN:

11

Deepstash helps you become inspired, wiser and productive, through bite-sized ideas from the best articles, books and videos out there.

GET THE APP:

RELATED IDEA

Objectives and Key Results (OKR)

The Objective is qualitative, and the KR’s (most often three) are quantitative.

They are used to focus a group or individual around a bold goal. The objective sets a goal for a set period of time, usually a quarter. The key results tell you if the objective has been met by the end of the time.

7

STASHED IN:

231

STASHED IN:

0 Comments

Your North Star

It’s a life purpose without which you’re lost in life. But, if you do have one, you’ll have a guiding light that keeps you firmly on track for fulfillment and success.

Having a North Star makes you passionate, energetic and goal-oriented in life

2

STASHED IN:

211

STASHED IN:

0 Comments

Perfect Vs Good Enough

For work that is not mission-critical, sometimes it is better to be just good enough, instead of being perfect.

Striving for 'Good Enough' instead of perfect can increase productivity if done rightly.

1

STASHED IN:

108