There are many ways to measure the success of a company and many analytical networks have presented us with standard ways of doing it, such as the likes and shares of Facebook, but sadly today that standard success only works to enhance the ego of a company.
In this article I will teach you to measure what is important so that we are focused on the important information.
When it comes to measuring, it is important that the resulting information helps us make decisions and it is difficult to have standard metrics since each business is different and you cannot measure an electronic store or a maquila.
For practical purposes we will divide the metrics into 2, vanity metrics (avoid them) and actionable metrics (focus on these).
Vanity metrics are easy to measure or monitor metrics, they can give us a false impression of growth. This is because they do not help us to optimize our efforts or to generate greater results and generate a feeling of false success.
Some examples of vanity metrics would be:
- Number of followers
- Number of likes, shares and comments
- Number of visits
- Downloads of an application
The actionable metrics are those that provides relevant information to adjust a strategy and are usually qualitative. It is important that the information collected helps to validate / reject a hypothesis or generate a new hypothesis.
Examples of actionable metrics:
- User reactions to a prototype
- New ideas for later prototypes
- Content Validation
- Flow Validation
- Previous and subsequent actions for the use of your product
Design your metrics
Share in the comments which metrics have confused you about your goals and which ones have helped you maximize your results.