What is Magic Metrics?

What Do We Mean By Magic Metrics?

It’s the insight you discover, than no one ever realized, that helps change the way you operate, either in business or in your personal life. It can be a trailing indicator or a leading one. It can be obvious or subtle. The point is that you found it, and can now use it to take. Enter actions.

It’s the discovery & identification unknown numbers that make all the difference in what you should truly be measuring. What moves the needle - for real, this time.

The numbers that REALLY matter - whether it’s for sales, or for revenue ratios, or marketing analytics.

A magic metric is a crucial measurement because it helps businesses assess performance and determine if they are achieving their goals, in a tangible manner.

To be a “magic metric”, all of the following ingredients are needed.

• Tangible

• Easy To Understand

• Actionable

• Addresses The Problem

Discovering a magic metric is a challenging task; it requires identifying the desired end goal and the context in which it is being measured, then working backwards to identify the exact combination. Often you need to analyze several different metrics and consider factors like customer behavior, satisfaction, process, UX, logistics, cost/benefit analysis, and most importantly, common sense.

The process of creating & implementing a MagicMetric requires a plethora of skill sets:

• Diagnostic aptitude: To assess the flow of the process, and identify key junctures

• Excellent Communication: To ask stakeholders the desired end goal, listen to their responses, and prompt them to explain in more depth what they might not understand themselves

• Creativity: To figure out and invent, not unlike a writer or an artist, what the right way to measure progress towards the desired end goal is

• Project Management: To implement the Magic Metrics may require working across a multitude of stakeholders & teams - website, marketing, front line retail workers, etc

• Analytics: Once implemented, you must track, organize data, analyze it, design compelling visuals, and tell a good story, that has actionable recommendations

You want examples, don’t you? What might be some magic metrics for…

Which one is of most interest to you? You want answers, we’ve got ‘em. Do this:

1. Leave a comment about any of the above for which you want to see a Magic Metric (Add a poll? Linkedin Limits 4 choices, Other)

2. Follow me

I will create content for whichever topics are most popular. writing about each one of these in the upcoming weeks. If you’re curious, follow me and we can deliver on each one.

We are the experts in this, with more than 20 years experience, across agencies, publishers, vendors, for clients in Automotive, Travel, CPG, Retail, Finance, Tech & Telco, QSR, and small businesses.

Interested in a brainstorming session to see if we can identify a magic metric for you?

Click here to book a free consultation