GrowthHackers Experiments is a complete platform to track ideas, hypotheses and results.
Earlier this month, I went to the Hubspot Inbound 19 conference in Boston. Between all of the thought-provoking presentations and workshops, I noticed an interesting trend: pretty much every brand was talking about being ‘purpose-driven’ or ‘purpose-led.’ This focus on purposeful culture comes as the Business Roundtable is reconsidering the role of business in society. In August, nearly 200 chief executives wrote that delivering shareholder value shouldn’t be their only goal. Instead, companies owe a broader commitment to society. So, why are customers and CEOs getting behind the idea of ‘purpose-driven’ brands? Why does doing the right thing matter so much in today’s market, and what does this idea mean in practice?
An introduction to product strategy with examples of north star metrics across industries The product north star is easily the most powerful and misunderstood product strategy framework in use today. More product teams are dealing with the consequences of not defining it at all or defining it the wrong way and leading their team down an unintended path. This article is our first deep dive in a series on the north star metric. We hope it serves as a guide to product leaders and managers around the world on why this metric matters, how to define it and how to use it to drive your long-term product strategy and growth.
The North Star Metric is the single metric that best captures the core value that your product delivers to customers. Optimizing your efforts to grow this metric is key to driving sustainable growth across your full customer base. Once you understand your North Star Metric, it is important to document the variables that work together to move this metric. These variables generally include parts of the customer lifecycle such as new user signups, new user activations and improving engagement/retention of users. By understanding the relationship of these interdependent variables and your current conversion rates, you will gain insights into potential high leverage opportunities for growing your North Star Metric.
Join over 70,000 growth pros from companies like Uber, Pinterest & Twitter