Ancient explorers may have been lost in unfamiliar areas, but they knew if they could see the North Star they’d be able to figure out where they were going.
Do you have one number your entire team can rally behind?
In a retail environment, this might be customer interactions. In an online setting, it might be the net promotor score. For one of our past clients, it was sample requests.
What’s the number every member of the team can understand and contribute to driving?
Here are 3 keys to identifying your “north star” KPI.
1. Your KPI drives growth.
This might seem obvious, but the first criteria when you’re identifying your North Star KPI is that it drives growth. This should be tied to your strategic initiatives and desired areas of growth.
2. You’re prepared for the results.
We had a client that, though a combination of compensation and reporting, motivated the entire sales team to drive complex engagements. They then developed a backlog of complex engagements and the implementation team fell months behind.
Look ahead at the potential results if the team were to exceed your expectations. Are you prepared?
3. Everyone can contribute.
You should have many KPIs you’re tracking, but for your North Star KPI, make sure everyone can understand their contribution. From reception to IT to customer support, everyone needs to have a part in driving this KPI.