What metrics/KPIs are so important to your growth and performance that you track them every day? For me it is # leads, #new trials, # new account sign-ups and # cancelled accounts and MRR of cancelled accounts. Thanks!
From a top/middle funnel perspective, my daily dashboard consists of:
- number of new visitors
- number of new trial accounts
- Trial signup conversion rate
- One of our top product behaviors/Wow moments
With each of these, we have things set up to display:
- the number for the previous day (and how it compares to same day from previous week on a % comparison)
- the number so far this week (and how it compares to same days from last week)
- the number so far this month (and how it compares to same period from last month)
This helps me see at a glance how the week and month are trending and then if I need to dig deeper if something is surprising.
Very good share, Jason. Is your product a SaaS product?
Also, for #4, "One of our top product behaviors/Wow moments", which specific metric do you use to capture that? % of users who took certain action in your app?
By far the most important metric for CareGuide is the number of new subscriptions. Beyond that, our first dashboard highlights new listings, messages, calls, and cash flow (making it really easy to see if something is broken, or when a new breakthrough is kicking ass).
We also put focus on some engagement metrics such conversations started per user, reply rate, etc. The day to day focus is highly dependent on what our current growth goals are.
Thanks Ali. And how often would you say you look at the number of new subscriptions? And the other metrics you listed? Once a day? Many times a day? All the time?
Do you display your metrics on a TV for all to see?
Anytime! I personally look at our dashboard metrics at least once every couple hours. It keeps me close to the pulse and makes it easier to identify trends and opportunities.
The other metrics I mentioned depend on what the team is working on. I look at them at least once a week - but recently I've been watching them once or twice daily.
Sadly, our metrics aren't on a TV (although we've chatted about doing so at least a dozen times). However, they are the first thing every single team member sees when they log in to our admin panel, and we discuss the metrics together fairly regularly.
I noticed you haven't dropped in your answer. I'd love to hear about the metrics your team follows.
We find having our metrics up a TV is a big motivator to beat our objectives, early warning signal if something is going off the rails (without the distraction of switching tabs and focus, and continuous reminder if we need to improve.
For my marketing role the metrics I look at a few times a day are: # leads, lead source, lead quality metrics like %of daily leads that are sales accepted, average lead score, #new trials, #trials/country, # new account sign-ups, # cancelled accounts and MRR of cancelled accounts.
Metrics I look at 3 or 4 times a week:
#trials generated from Adwords
Cost/trial
For my product's role I look at these metrics a few times a week:
#downloads of mobile app
dozen or so mixpanel funnel metrics.
downloads of visualizations from our Klip Gallery
When you get to casting your metrics consider this:
We are using Rise Vision, Airtame and Chromecast. Chromecast was very flaky but both Rise Vision and Airtame are working really well so far.
I would say open rates and click rates, even if I had a million subscribers I wouldn't have a successful email marketing with a million people deleting my mails. Cheers.
After an email goes out how often during that day would you want to track your open rates and click rates? And after the first day home many days afterwards would you track it closely?
Also are there others in your organization who would want to track it as well?
I would say week cohorts.... How many new users are still on board after a week of their app download and signup. This essentially gives one an idea of whether an app/service is providing value to the user. Subsequently it allows for A/B testing the on-boarding experience and fostering a constructive dialogue with the users themselves
Hi Mychelle, primarily my concern is the drop out rate. It is highly indicative of value provision to the users. Activity can be sparked but only if users still have your app installed in their device. I would check this metric daily up until the point it stabilises to an acceptable figure, especially around updates and new feature roll out period. For example an 80% drop out just won't do the trick.
CPIS Cost per incremental sale.
What matters in marketing is that the money you spend is driving incremental revenue. If the test population still drives orders/subscriptions etc. why bother advertising?
Daily upgrades - First thing I do in the morning, may make my day miserable
NPS - What suppor issues are we having?
Make sure the conversion rate is stable - Is something broken?
Test running and their conversions - How are we doing at optimizing stuff
Referral traffic - Any blog that may've picked up?
Mentions - Anyone important talking about us?
Jason Peck
From a top/middle funnel perspective, my daily dashboard consists of:
- number of new visitors
- number of new trial accounts
- Trial signup conversion rate
- One of our top product behaviors/Wow moments
With each of these, we have things set up to display:
- the number for the previous day (and how it compares to same day from previous week on a % comparison)
- the number so far this week (and how it compares to same days from last week)
- the number so far this month (and how it compares to same period from last month)
This helps me see at a glance how the week and month are trending and then if I need to dig deeper if something is surprising.
Hila Qu
Very good share, Jason. Is your product a SaaS product?
Also, for #4, "One of our top product behaviors/Wow moments", which specific metric do you use to capture that? % of users who took certain action in your app?
Jason Peck
Yep, we're SaaS all the way. For #4, you got it. # and % of trial signups that complete XYZ behavior.
Ali Dinani
By far the most important metric for CareGuide is the number of new subscriptions. Beyond that, our first dashboard highlights new listings, messages, calls, and cash flow (making it really easy to see if something is broken, or when a new breakthrough is kicking ass).
We also put focus on some engagement metrics such conversations started per user, reply rate, etc. The day to day focus is highly dependent on what our current growth goals are.
mychelle mollot
Thanks Ali. And how often would you say you look at the number of new subscriptions? And the other metrics you listed? Once a day? Many times a day? All the time?
Do you display your metrics on a TV for all to see?
Ali Dinani
Anytime! I personally look at our dashboard metrics at least once every couple hours. It keeps me close to the pulse and makes it easier to identify trends and opportunities.
The other metrics I mentioned depend on what the team is working on. I look at them at least once a week - but recently I've been watching them once or twice daily.
Sadly, our metrics aren't on a TV (although we've chatted about doing so at least a dozen times). However, they are the first thing every single team member sees when they log in to our admin panel, and we discuss the metrics together fairly regularly.
I noticed you haven't dropped in your answer. I'd love to hear about the metrics your team follows.
mychelle mollot
We find having our metrics up a TV is a big motivator to beat our objectives, early warning signal if something is going off the rails (without the distraction of switching tabs and focus, and continuous reminder if we need to improve.
For my marketing role the metrics I look at a few times a day are: # leads, lead source, lead quality metrics like %of daily leads that are sales accepted, average lead score, #new trials, #trials/country, # new account sign-ups, # cancelled accounts and MRR of cancelled accounts.
Metrics I look at 3 or 4 times a week:
#trials generated from Adwords
Cost/trial
For my product's role I look at these metrics a few times a week:
#downloads of mobile app
dozen or so mixpanel funnel metrics.
downloads of visualizations from our Klip Gallery
When you get to casting your metrics consider this:
We are using Rise Vision, Airtame and Chromecast. Chromecast was very flaky but both Rise Vision and Airtame are working really well so far.
Kasey Luck
number of email subscribers
mychelle mollot
Thanks Kasey.
How often do you want to see number of email subscribers? Once a day? Multiple times a day? And do you want to see unsubscribes as well?
Jammil Flores
I would say open rates and click rates, even if I had a million subscribers I wouldn't have a successful email marketing with a million people deleting my mails. Cheers.
mychelle mollot
Thanks Jammil.
After an email goes out how often during that day would you want to track your open rates and click rates? And after the first day home many days afterwards would you track it closely?
Also are there others in your organization who would want to track it as well?
Nikolaos Tsoniotis
I would say week cohorts.... How many new users are still on board after a week of their app download and signup. This essentially gives one an idea of whether an app/service is providing value to the user. Subsequently it allows for A/B testing the on-boarding experience and fostering a constructive dialogue with the users themselves
mychelle mollot
Thanks Nikolaos.
By on board do you mean still signed up or do you mean still actively using? And would you look at this metric once a week for the past week's cohort?
Nikolaos Tsoniotis
Hi Mychelle, primarily my concern is the drop out rate. It is highly indicative of value provision to the users. Activity can be sparked but only if users still have your app installed in their device. I would check this metric daily up until the point it stabilises to an acceptable figure, especially around updates and new feature roll out period. For example an 80% drop out just won't do the trick.
Nick Lock
CPIS Cost per incremental sale.
What matters in marketing is that the money you spend is driving incremental revenue. If the test population still drives orders/subscriptions etc. why bother advertising?
mychelle mollot
Thank Nick.
How often would you look at CPIS?
Nick Lock
Typically on a monthly time frame.
mychelle mollot
Any metric you look at daily?
jordan gutierrez
Daily upgrades - First thing I do in the morning, may make my day miserable
NPS - What suppor issues are we having?
Make sure the conversion rate is stable - Is something broken?
Test running and their conversions - How are we doing at optimizing stuff
Referral traffic - Any blog that may've picked up?
Mentions - Anyone important talking about us?
A quick check on the funnel also never hurts
jordan gutierrez
Also, use Gekoboard to have all the good metrics in one place
mychelle mollot
Glad to hear you are using Dashboard software to track your metrics -- even if you are using one of our competitors :-)
mychelle mollot
Thanks Jordon.
Do you have your metrics on wall mounted TVs in your office?
And how often are you measuring NPS in your customer base?
jordan gutierrez
Multiple...
Weekly...