Types of KPIs
Quantitative indicators that can be presented with a number. Qualitative indicators that can't be presented as a number. Leading indicators that can predict the outcome of a process. Lagging indicators that present the success or failure post hoc.
Business, North Star, and customer-oriented metrics are the most useful for tracking and analyzing because they can give you direct data about the success of your products and your business. These metrics tell you directly how your product performs in the market and how you can expect it to continue functioning.
The 7 essential customer success KPIs that will help you retain loyal customers, regardless of your industry/product are: customer health score, customer satisfaction rate, churn rate, customer lifetime value, retention cost, Net Promoter Score, and expansion revenue.
For this reason, multiple tools have been created to help companies to measure their levels of customer satisfaction. This article examines the pros and cons of three of these tools: the Customer Satisfaction Score (CSAT), the Customer Effort Score (CES) and the Net Promoter Score (NPS).
The three most important characteristics of process metrics are reliability, reproducibility, and repeatability.
The product line decisions are (1) product line expansion, (2) product line reposition and (3) product line contraction.
Key performance indicators (KPIs) are quantifiable measures of a team's progress toward a goal. For product management, KPIs typically involve the success of product features, the reactions of customers and the expenses and revenue of products.
12 types of Key Performance Indicators. Corporate KPIs should originate from corporate business goals. Every business is unique in its own way, and so are its KPIs. Businesses can and should be creative while finalizing the performance metrics that they want to track along with the standard ones.
Divide your dashboards by function
Group your KPIs and create individual dashboards focused on a specific audience. Strategic Dashboards visualize growth and the organization's goals. Operational Dashboards for day-to-day operations such as those for Sales teams.
A leading KPI indicator is a measurable factor that changes before the company starts to follow a particular pattern or trend. Leading KPIs are used to predict changes in the company, but they are not always accurate.
So if you are seeking relevant and meaningful KPIs, simply start with customer satisfaction, internal process quality, employee satisfaction and financial performance.
Kotler suggested that products can be divided into three levels: core product, actual product and augmented product. The core product is defined as the benefit that the product brings to the customer.
There are three categories of metrics: product metrics, process metrics, and project metrics.
Types of Team Metrics
There are various ways to break down team metrics, but here we'll break them down into three categories: Performance, Wellness, and Synergy. Performance is what we tend to think of when we think of traditional job assessments: here we measure productivity, efficiency, output, and outcomes.
' There are three types of metrics that an organization should collect. These are –Technology metrics, process metrics, and service metrics.
The top customer service metrics you should measure are: Customer Satisfaction (CSAT) Customer Effort Score (CES) Net Promoter Score (NPS)
The three Cs of customer satisfaction: Consistency, consistency, consistency. It may not seem sexy, but consistency is the secret ingredient to making customers happy. However, it's difficult to get right and requires top-leadership attention.