Angel works alongside the product team to help build new features and improve customer experience.
You’ve set your objectives—but you need to be able to evaluate them with measures.
Table of Contents
Strategic measures are used to track your progress in achieving your objectives and goals. For example, if your objective is to retain current customers, you’ll ask yourself, “How are we doing toward meeting this particular goal?” The answer to that question is the measure. In this example, it may be your customer renewal percentage going up or down.
With this in mind, here are some helpful tips you can put into practice for selecting the right strategic measures.
About 10 years ago, Teach For America created a Balanced Scorecard. This case example represents their strategic measures at the time and how they tie to each of their objectives. Note that some of the measures and objectives have been simplified. (You can view an example of their Balanced Scorecard in this article.)
The best way to capture your measure information is by having and using a measure template. The chart below represents a simple template that can be used by filling in the answers on the right hand side. Measure templates are valuable because they help you to realize the strength of your measure and help you communicate your thinking behind the three to five word measure name.
Key performance indicators (KPIs) or measure targets are used to communicate the level of performance you’re trying to achieve. There are three critical steps in setting these targets:
These steps are broken down in-depth in our article How To Set KPI Targets.