Faster And More Insightful
Sustainable Velocity is about agility and optimization
Once you have alignment on the go-to-market strategy, it’s time to build out velocity in your process; go faster. And, develop measurement and optimization strategies to extract market insights.
Set your key performance indicators
get it down to 4-5 that drive revenue
While working with different clients on how to improve their market strategies, one of the biggest red flags we see is a company having 30 or 50 things that they consider to be “key measurables.” On paper, this may seem like attention to detail. In reality, however, this is more likely a sign that they don’t know what to focus on. In other words, they don’t know how to meaningfully measure their business so they just measure everything. Ideally, you want to get yourself down to around 4 or 5 key KPIs in order to track your progress towards business goals. But where do you start?
Start by focusing on these three performance indicators:
- Measuring what drives your revenue
- Looking at the customer journey when deciding what to focus on
- Using internal collaboration between, sales, finance, and marketing for testing and strategy
Test, Test, Test
optimization builds market insights
make time to test everything
Allocating time to test and optimize is a business process that often goes neglected. Despite understanding its value, organizations often prioritize other matters. However, investing time into testing can yield massive rewards.To devise a testing plan that provides insightful market data, business leaders should start by establishing what they want to learn. Then, develop hypotheses about customer behavior and other institutional assumptions that need to be examined. Formulating experiments to test these hypotheses can be challenging, but it will be worth it in the end.
By making an effort and dedicating time to testing, business leaders can drive powerful marketing insights that will have a meaningful impact on their organization.