How to Select the Right Growth Metrics?
EduTech Innovations, an online education platform, aims to refine its growth strategy by establishing a clear set of growth metrics. Currently, they track a mix of user sign-ups, course completion rates, and customer feedback scores but lack a strategic framework to interpret these numbers.
The CEO wants to see a direct correlation between the team's day-to-day operations and long-term growth targets.
Your assignment is to:
- 1. Determine which key output metric should be the focus for sustainable growth in the education sector.
- 2. Break down this output metric into actionable input metrics based on the customer journey specific to EduTech Innovations' offerings.
- 3. Develop a hierarchy of metrics that clarifies the relationship between the team's actions and desired business outcomes.
- 4. Formulate a set of targeted questions that will lead to the selection of the most appropriate metrics for EduTech Innovations' business model and objectives.
Address these points in your analysis, providing a clear explanation for your choices and how they will directly contribute to EduTech Innovations' growth objectives.