Metrics, KPIs, & Goals ("Oh my!")

Metrics are what you measure. And what you measure is what you manage to.

Good metrics have three key attributes:

• the data is consistent

• cheap

• and quick to collect

  
  

A simple rule of thumb: if you can’t measure results within a week, free of charge, and if you cannot replicate the process, then you’re prioritizing the wrong ones. There are exceptions, but they are rare.

A KPI is a specific metric that has been singled out as critical to achieving business goals.  Not all metrics are KPIs, i.e., only the ones that matter most.

To provide example, metrics could be

• number of phone calls, emails opened, face-to-faces, etc.

• SEO or GEO improvement, visits to websites, LinkedIn engagement, comments, etc.

• Pipeline size, proposals sent, etc.

KPIs are specific, should be more than 3 to 5 for any individual or team, such as:

• Cost of acquiring a new customer (CAC)

• Sales qualified opportunities per rep per month

• Win rate %

• Quarterly order intake (revenue)

• Gross margin on new business

Choose wisely (discussions regarding this can take more than a week). Your business will flow towards what you manage.