In marketing, there are no standard rules for what defines success. The measurements – or metrics – that mean success at your company may indicate failure at mine. The good news is that all kinds of tools will help you do all that math. The bad news is none of these tools help you understand what the numbers mean for your business
Get everyone on the same page
Identify and architect your shared objectives by defining clear, unambiguous measurements of success.
- Design the analytics and reports to give the insight you need to determine what’s working and what isn’t working, and to move you along the path to your shared objective.
Define success
What will unambiguously define success?
- Example: OKR strategic objective is to drive a 25% increase in net new sales in the next year
- Shareable goal is 10% of new sales opportunities
- Three key results: increase new leads with content by 15%, increase conversion rates of free trials by 25%, decrease cost-per-thousand advertising rate by 20%
Design your analytics
No single tool can be used to determine whether you’ve met the key results in OKR
- Instead, your analytics tools must assess several activities
- Top tier: strategic goals key results
- Middle tier: key performance indicators
- Bottom tier: data and metrics to improve process to reach KPIs
- Look like an org chart with each segment connected to the OKR pyramid
How do you create shared success measures?
OKRs are a concept called objectives and key results (OKRs) that help ensure progress toward a shared destination
- Three steps to create OKRs
- Write out the process
- Use OKRs to get to the measurement that matters
More than numbers
Now you’re measuring what’s meaningful and important
Step 1: Set Objective
Create an actual and shareable objective
- Well-articulated strategic objectives capture a mix of how content will deliver value to the business and when success will happen
- Time-box them to understand how quickly you need to change
- Once you have a shareable strategic objective, move to the next step
