PRODUCT MARKETING
Measuring Success & Optimization
Define KPIs
Key Performance Indicators (KPIs) are measurable metrics that help track progress toward business objectives. Defining the right KPIs ensures that your marketing and sales efforts are driving meaningful impact.
Why it's Important
Provides clear benchmarks for success.
Aligns teams on measurable goals.
Helps identify areas of improvement early.
Ensures data-driven decision-making.
How to Implement
Identify high-level business objectives (revenue, market share, user growth).
Break down into specific, measurable KPIs (conversion rate, CAC, churn).
Assign ownership for tracking and reporting.
Set baseline benchmarks based on historical data.
Establish regular review periods (weekly, monthly, quarterly).
Available Workshops
OKR (Objectives & Key Results) Planning to align business goals with KPIs.
Metric Mapping Session to connect marketing, sales, and product performance.
Dashboard Design Workshop to create real-time tracking tools.
Cross-Functional KPI Alignment to ensure teams focus on the right metrics.
KPI Benchmarking Exercise to compare against industry standards.
Goal vs. Performance Gap Analysis to identify improvement areas.
Deliverables
Documented KPI framework mapped to business objectives.
KPI ownership plan detailing responsible teams and individuals.
Dashboard for real-time monitoring.
Regular reporting cadence with analysis and recommendations.
How to Measure
Accuracy and consistency in tracking KPIs.
Impact of metrics on business decisions.
Quarterly progress against set targets.
Comparison of performance trends over time.
Real-World Examples
Shopify
Tracks user acquisition, merchant retention, and transaction volume as key KPIs.
Netflix
Uses engagement metrics like watch time to measure content success.
HubSpot
Aligns marketing KPIs (MQLs) with sales KPIs (SQLs) to optimize lead conversion.
Get It Right
Focus on a few key metrics that truly impact business outcomes.
Ensure KPIs are actionable and tied to business strategy.
Use leading indicators to predict trends.
Regularly review and adjust KPIs based on market shifts.
Make data accessible to all key stakeholders.
Don't Make These Mistakes
Tracking too many metrics without clear priorities.
Setting KPIs that don’t align with business goals.
Failing to review and iterate KPIs regularly.
Relying only on vanity metrics that don’t drive revenue.
Not ensuring cross-team alignment on key performance indicators.
Provided courtesy of Catherine St Clair, Product Marketing Manager, St Clair GTM Consulting