{"id":15088,"date":"2021-03-24T09:18:20","date_gmt":"2021-03-24T08:18:20","guid":{"rendered":"https:\/\/gn24.dev.growth-ninjas.net\/north-star-metric-implementation-application\/"},"modified":"2023-08-30T22:53:20","modified_gmt":"2023-08-30T20:53:20","slug":"north-star-metric-implementation-application","status":"publish","type":"post","link":"https:\/\/cache.dev.growth-ninjas.net\/en\/north-star-metric-implementation-application\/","title":{"rendered":"North Star Metric &#8211; Implementation &amp; Application"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"15088\" class=\"elementor elementor-15088 elementor-7287\" wpc-filter-elementor-widget=\"1\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-da3b060 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"da3b060\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d03623b\" data-id=\"d03623b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f0673bf elementor-widget elementor-widget-text-editor\" data-id=\"f0673bf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><i><br \/>\n  <span style=\"font-weight: 400;\">In part 1 of our series we have clarified, <\/span><br \/>\n<\/i><a href=\"https:\/\/cache.dev.growth-ninjas.net\/en\/north-star-metric-the-growth-metric\/\"><br \/>\n  <i><br \/>\n    <span style=\"font-weight: 400;\">what the North Star Metric is and what it is used for<\/span><br \/>\n  <\/i><br \/>\n<\/a><i><span style=\"font-weight: 400;\">. How do I put this knowledge into practice? How do I decide on my own North Star Metric?<\/span><\/i><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7030760 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7030760\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f14020d\" data-id=\"f14020d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6ba833d elementor-widget elementor-widget-heading\" data-id=\"6ba833d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How do I find my North Star Metric?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-72685fd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"72685fd\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-86d9313\" data-id=\"86d9313\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5352c74 elementor-widget elementor-widget-text-editor\" data-id=\"5352c74\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>You start with the basic questions: What is the service for which your product is being purchased? What is the core benefit of your product? How can this be quantified? Does this metric embody the positive growth of your business?<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d6b65fd elementor-widget elementor-widget-image\" data-id=\"d6b65fd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/cache.dev.growth-ninjas.net\/wp-content\/uploads\/2021\/01\/North-Star-Metric-YOU-1024x683.jpg\" class=\"attachment-large size-large wp-image-14782\" alt=\"North Star Metric YOU\" srcset=\"https:\/\/cache.dev.growth-ninjas.net\/wp-content\/uploads\/2021\/01\/North-Star-Metric-YOU-1024x683.jpg 1024w, https:\/\/cache.dev.growth-ninjas.net\/wp-content\/uploads\/2021\/01\/North-Star-Metric-YOU-300x200.jpg 300w, https:\/\/cache.dev.growth-ninjas.net\/wp-content\/uploads\/2021\/01\/North-Star-Metric-YOU-768x512.jpg 768w, https:\/\/cache.dev.growth-ninjas.net\/wp-content\/uploads\/2021\/01\/North-Star-Metric-YOU.jpg 1200w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bc2c672 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bc2c672\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8b2b4f9\" data-id=\"8b2b4f9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-034dbc1 elementor-widget elementor-widget-text-editor\" data-id=\"034dbc1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Not every quantifiable growth metric is directly your North Star Metric &#8211; for this reason, it&#8217;s important to explore these metrics further and run multiple scenarios with them. This will help you see how these numbers affect each other and what the one might be that you align your business with.<\/p>\n<p>In doing so, you can ask yourself the following questions:<\/p>\n<ul>\n<li><span style=\"text-decoration: underline;\">Does the metric represent the essential value of your product?<\/span><\/li>\n<li>Can the activity of your users be detected in it?<\/li>\n<li>Is the metric easy to understand and explain?<\/li>\n<\/ul>\n<p>In the words of Richard Feynman, <em>&#8220;If you can&#8217;t explain something to a first year student, then you haven&#8217;t really understood.&#8221;<\/em> In this context, if you can&#8217;t explain it to the rest of the team in one sentence, it&#8217;s too complicated.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d51989 elementor-widget elementor-widget-text-editor\" data-id=\"1d51989\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>To find out if your metric can really work as an NSM, you can go through the following checklist:<\/p>\n<p><strong>Checklist North Star Metric<\/strong><\/p>\n<ul>\n<li>The NSM applies to all your customers<\/li>\n<li>This added value is measurable<\/li>\n<li>External factors have minimal influence on the metric<\/li>\n<li>NSM growth goes hand in hand with company growth<\/li>\n<li>The NSM hardly varies<br>__________________<\/li>\n<\/ul>\n<p>Once you have settled on your NSM, you can refine and narrow it down: at what intervals (daily, weekly, monthly) does it make sense to measure it? Can the NSM be broken down to smaller basic units? If so, back to the checklist and go through the smaller units.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e00450 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"2e00450\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c992f5 elementor-widget elementor-widget-heading\" data-id=\"3c992f5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The ONE, correct North Star Metric?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-91bc620 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"91bc620\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1d2d7c1\" data-id=\"1d2d7c1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-85cdab2 elementor-widget elementor-widget-text-editor\" data-id=\"85cdab2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>However, the NSM is (unfortunately) not the automatic complete solution to all your (growth) problems: The most important thing is that you understand your customers and know what value they get from your product. This also requires that you review your NSM and check if it can keep up with the changes in the market.<\/p>\n<p>It&#8217;s hard to find the one, &#8220;right&#8221; metric that sums it all up right off the bat. Don&#8217;t worry &#8211; the only thing your business needs is a metric that makes sense. Often, only several trial-and-error runs lead to the perfect metric. But until then, you can settle for one that your teams can easily focus on and that will bring you long-term growth.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-842ab5b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"842ab5b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-de85611\" data-id=\"de85611\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eca8eb7 elementor-widget elementor-widget-text-editor\" data-id=\"eca8eb7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>The North Star Metric has become one of the most important KPIs in the &#8220;metrics sky&#8221; against which all marketing and sales efforts should be aligned.<\/strong><\/p>\n<p><a href=\"https:\/\/cache.dev.growth-ninjas.net\/en\/north-star-metric-the-growth-metric\/\">Part 1: North Star Metric &#8211; the &#8220;growth metric<\/a><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a8830c4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a8830c4\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c8d3d64\" data-id=\"c8d3d64\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-28a9c89 elementor-widget elementor-widget-text-editor\" data-id=\"28a9c89\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Here&#8217;s to good growth,<br \/><a href=\"https:\/\/cache.dev.growth-ninjas.net\/en\/the-ninjas\/stefan-greunz\/\">Stefan Greunz<\/a><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>In part 1 of our series we have clarified, what the North Star Metric is and what it is used for . How do I put this knowledge into practice? How do I decide on my own North Star Metric? How do I find my North Star Metric? You start with the basic questions: What [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":14782,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[370],"tags":[396,375],"thema":[500,492],"class_list":["post-15088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-news-en","tag-hubspot-en-2","thema-digital-sales-and-business-development","thema-digital-strategies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>North Star Metric - Implementation &amp; Application | Growth Ninjas<\/title>\n<meta name=\"description\" content=\"Whether start-up, SME or large corporate - growth is the central focus. The North Star Metric is the essential metric.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cache.dev.growth-ninjas.net\/en\/north-star-metric-implementation-application\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"North Star Metric - Implementation &amp; Application\" \/>\n<meta property=\"og:description\" content=\"Whether start-up, SME or large corporate - growth is the central focus. 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