Facebook looks at daily active users.
Airbnb.com uses bookings.
At Clarity – my previous company – we obsessed over completed calls.
These are called North Star Metrics.
It’s a clear metric that your growth team focuses on to move the needle.
The key is that it captures the value created for your customers, and allows everyone on the team – and really the company – to drive this forward.
But how do you come up with the right ideas to move this number?
That’s what I teach you in this week’s video.
It comes down to a simple 4 part process that I was taught from one of my mentors Sean Ellis.
Once you’ve defined a solid North Star Metric (NSM), then you need to come up with actionable ideas and strategies that are going to move that number higher.
- Ideation around ideas that are either research, or optimizations
- Prioritize using ICE: Impact, Confidence, Easy
- Test using Dev Sprints
- Report adding to a Knowledge Base
… as well as some common challenges that my SaaS Academy clients constantly run into.
(confusing product with growth is a BIG one that absolutely destroys momentum)
If after watching you have any questions about how to define your North Star Metric or the best way to structure your teams to move them forward, leave a comment below the video and I’ll respond there.
Here’s to your growth!