I’ll never forget the day I was asked, “What is the best way to represent tech investments in our growth plan?” 🤔
My response?
“We need to correlate tech investments closely with our customer KPI’s. What impact will the investment have on customer success?”
Technology enables and supports growth, but to limit risk and fully achieve lift, you must consider how tech investments will directly relate to customers’ goals and KPI’s. While the success metrics don’t tell the full story, they do provide a benchmark for calibrating success.
☞ 𝐊𝐞𝐲 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐭𝐨 𝐀𝐧𝐬𝐰𝐞𝐫:
1. What are the key performance indicators for success in your business model? 🎯
2. What are the customer’s unmet needs that will unlock growth?🔒
3. What are your key initiatives to deliver incremental volume, and what technology elements are required to deliver? Do they require technology to support? 🔑
4. What are the customer use cases that will drive the KPIs? 🙋🏻♀️
5. When and how will you measure success following an implementation? 📏
With answers to these questions in hand, you’re ready to determine the tech requirements, budget, and investment projection to deliver the growth your brand needs.
Sometimes hitting the pause button to clarify objectives and success criteria allows an even faster pace on the road to delivering success. 🚦
Were there times when you needed to slow down to speed up? Share it with us in the comments below.
